IQVIA’s (IQV) “Outperform” Rating Reiterated at Royal Bank of Canada

IQVIA (NYSE:IQV)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $270.00 price target on the medical research company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 32.77% from the company’s previous close.

IQV has been the topic of a number of other reports. StockNews.com lowered shares of IQVIA from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of IQVIA from $270.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Redburn Atlantic started coverage on shares of IQVIA in a research report on Monday, October 14th. They set a “buy” rating and a $276.00 target price for the company. The Goldman Sachs Group reduced their price objective on IQVIA from $280.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, BTIG Research lowered their price target on shares of IQVIA from $290.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IQVIA has an average rating of “Moderate Buy” and a consensus price target of $256.50.

IQVIA Stock Performance

Shares of IQV stock traded up $2.78 during trading hours on Wednesday, hitting $203.36. The stock had a trading volume of 206,464 shares, compared to its average volume of 1,175,242. The stock’s 50 day moving average is $217.11 and its 200 day moving average is $225.67. IQVIA has a twelve month low of $187.62 and a twelve month high of $261.73. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $36.91 billion, a PE ratio of 26.69, a PEG ratio of 2.08 and a beta of 1.49.

Institutional Investors Weigh In On IQVIA

Hedge funds have recently modified their holdings of the stock. Oddo BHF Asset Management Sas purchased a new stake in shares of IQVIA during the third quarter valued at approximately $2,771,000. Franklin Resources Inc. grew its holdings in IQVIA by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 501,807 shares of the medical research company’s stock valued at $117,031,000 after purchasing an additional 6,011 shares in the last quarter. Tidal Investments LLC lifted its holdings in IQVIA by 9.3% in the 3rd quarter. Tidal Investments LLC now owns 5,980 shares of the medical research company’s stock worth $1,417,000 after buying an additional 509 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in IQVIA in the 3rd quarter valued at about $2,310,000. Finally, Arvest Bank Trust Division acquired a new stake in shares of IQVIA during the third quarter valued at about $21,079,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

IQVIA Company Profile

IQVIA Holdings Inc engages in the provision of advanced analytics, technology solutions, and clinical research services to the life sciences industry in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.