IQVIA (NYSE:IQV) Price Target Cut to $177.00 by Analysts at JPMorgan Chase & Co.

IQVIA (NYSE:IQV) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $232.00 to $177.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 25.56% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Hsbc Global Res lowered IQVIA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 25th. UBS Group dropped their price target on IQVIA from $255.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Barclays decreased their price objective on IQVIA from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Morgan Stanley boosted their price target on shares of IQVIA from $245.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Mizuho cut their price objective on shares of IQVIA from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IQVIA presently has an average rating of “Moderate Buy” and an average price target of $228.14.

IQVIA Price Performance

Shares of IQVIA stock traded down $1.85 on Monday, reaching $140.97. The company’s stock had a trading volume of 675,237 shares, compared to its average volume of 1,511,410. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The company has a market capitalization of $24.39 billion, a P/E ratio of 18.82, a PEG ratio of 1.99 and a beta of 1.34. The stock has a 50-day moving average price of $159.83 and a 200-day moving average price of $185.72. IQVIA has a 52-week low of $135.97 and a 52-week high of $252.88.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Tuesday, May 6th. The medical research company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.07. IQVIA had a net margin of 8.91% and a return on equity of 28.81%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts expect that IQVIA will post 10.84 EPS for the current year.

Hedge Funds Weigh In On IQVIA

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American National Bank & Trust purchased a new position in IQVIA in the first quarter worth approximately $26,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in IQVIA by 436.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 161 shares of the medical research company’s stock valued at $28,000 after buying an additional 131 shares during the last quarter. Golden State Wealth Management LLC raised its stake in IQVIA by 295.5% in the first quarter. Golden State Wealth Management LLC now owns 174 shares of the medical research company’s stock valued at $31,000 after buying an additional 130 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of IQVIA during the 4th quarter worth about $33,000. Finally, AllSquare Wealth Management LLC purchased a new position in shares of IQVIA in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

About IQVIA

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.