JPMorgan Chase & Co. Has Lowered Expectations for IQVIA (NYSE:IQV) Stock Price

IQVIA (NYSE:IQV) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $240.00 to $232.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 18.42% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Bank of America reduced their target price on shares of IQVIA from $255.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, December 13th. StockNews.com cut shares of IQVIA from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. Morgan Stanley increased their target price on IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. The Goldman Sachs Group cut their price target on IQVIA from $280.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $270.00 price target on shares of IQVIA in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.22.

IQVIA Trading Up 1.3 %

IQVIA stock traded up $2.47 during midday trading on Tuesday, reaching $195.91. 224,751 shares of the stock traded hands, compared to its average volume of 1,360,051. The firm has a market cap of $35.56 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 2.25 and a beta of 1.48. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 2.12. IQVIA has a 12-month low of $187.62 and a 12-month high of $261.73. The company has a 50-day simple moving average of $200.15 and a two-hundred day simple moving average of $217.43.

IQVIA (NYSE:IQV) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $2.90 earnings per share for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a return on equity of 28.81% and a net margin of 8.91%. Research analysts expect that IQVIA will post 10.81 earnings per share for the current fiscal year.

Insider Activity at IQVIA

In other IQVIA news, Director John G. Danhakl acquired 1,275 shares of the stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $200.58 per share, with a total value of $255,739.50. Following the transaction, the director now owns 1,275 shares of the company’s stock, valued at approximately $255,739.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On IQVIA

A number of large investors have recently bought and sold shares of IQV. Norges Bank purchased a new position in IQVIA during the 4th quarter worth $336,041,000. Raymond James Financial Inc. purchased a new stake in shares of IQVIA in the fourth quarter valued at approximately $236,120,000. American Century Companies Inc. grew its holdings in IQVIA by 396.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company’s stock worth $222,987,000 after acquiring an additional 905,960 shares during the period. Invesco Ltd. raised its position in IQVIA by 53.4% in the fourth quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company’s stock worth $509,012,000 after acquiring an additional 902,226 shares in the last quarter. Finally, FMR LLC boosted its position in shares of IQVIA by 38.7% during the 3rd quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock worth $684,213,000 after purchasing an additional 804,963 shares in the last quarter. 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.