IQVIA (NYSE:IQV) Price Target Cut to $235.00 by Analysts at Bank of America

IQVIA (NYSE:IQV) had its target price cut by Bank of America from $255.00 to $235.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Bank of America‘s price target points to a potential upside of 17.13% from the stock’s previous close.

IQV has been the topic of several other reports. Robert W. Baird cut their price target on shares of IQVIA from $213.00 to $212.00 and set a “neutral” rating on the stock in a report on Wednesday. Redburn Atlantic initiated coverage on IQVIA in a research report on Monday, October 14th. They set a “buy” rating and a $276.00 target price on the stock. William Blair reissued an “outperform” rating on shares of IQVIA in a report on Wednesday. TD Cowen cut their price objective on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $270.00 target price on shares of IQVIA in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $256.19.

IQVIA Stock Up 0.1 %

Shares of IQVIA stock traded up $0.27 on Friday, reaching $200.64. The stock had a trading volume of 342,641 shares, compared to its average volume of 1,182,572. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $36.42 billion, a P/E ratio of 26.24, a P/E/G ratio of 2.07 and a beta of 1.49. The company has a 50 day moving average price of $212.86 and a 200 day moving average price of $224.44. IQVIA has a 1 year low of $187.62 and a 1 year high of $261.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its stake in shares of IQVIA by 6.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock valued at $719,634,000 after purchasing an additional 211,653 shares in the last quarter. Farallon Capital Management LLC grew its holdings in IQVIA by 3.1% in the second quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock valued at $618,046,000 after purchasing an additional 86,870 shares during the period. FMR LLC increased its position in shares of IQVIA by 38.7% in the third quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock valued at $684,213,000 after buying an additional 804,963 shares in the last quarter. Impax Asset Management Group plc raised its stake in shares of IQVIA by 9.7% during the 3rd quarter. Impax Asset Management Group plc now owns 1,793,010 shares of the medical research company’s stock worth $423,885,000 after buying an additional 157,809 shares during the period. Finally, Legal & General Group Plc grew its stake in IQVIA by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 1,514,237 shares of the medical research company’s stock valued at $320,170,000 after acquiring an additional 11,715 shares during the period. Hedge funds and other institutional investors own 89.62% of the company’s stock.

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.