IQVIA (NYSE:IQV) Price Target Raised to $325.00

IQVIA (NYSE:IQV) had its target price increased by JPMorgan Chase & Co. from $295.00 to $325.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

Several other brokerages also recently weighed in on IQV. William Blair upgraded IQVIA to a “strong-buy” rating in a research note on Tuesday, July 28th. Rothschild & Co Redburn upped their target price on shares of IQVIA from $284.00 to $287.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen raised shares of IQVIA from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Leerink Partners raised their price target on shares of IQVIA from $280.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Finally, BMO Capital Markets boosted their price objective on IQVIA from $270.00 to $305.00 in a research report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $294.21.

IQVIA Stock Down 3.0%

IQVIA stock opened at $266.93 on Wednesday. IQVIA has a 1-year low of $154.50 and a 1-year high of $284.50. The firm’s fifty day simple moving average is $266.22 and its 200-day simple moving average is $210.41. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $43.99 billion, a P/E ratio of 23.75, a P/E/G ratio of 2.42 and a beta of 1.17.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Tuesday, October 27th. The medical research company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.08. IQVIA had a return on equity of 30.02% and a net margin of 8.05%. The company had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the previous year, the firm earned $3.00 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Sell-side analysts forecast that IQVIA will post 11.56 earnings per share for the current fiscal year.

Insider Transactions at IQVIA

In other news, insider W. Richard Staub sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $232.68, for a total transaction of $1,279,740.00. Following the transaction, the insider directly owned 13,312 shares in the company, valued at approximately $3,097,436.16. This represents a 29.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James G. Berkshire sold 2,668 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $261.33, for a total transaction of $697,228.44. Following the sale, the insider directly owned 10,890 shares in the company, valued at $2,845,883.70. This trade represents a 19.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Richardson Financial Services Inc. raised its stake in IQVIA by 395.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,857 shares of the medical research company’s stock worth $499,000 after buying an additional 1,482 shares during the period. Ascent Group LLC grew its stake in IQVIA by 66.4% in the third quarter. Ascent Group LLC now owns 5,219 shares of the medical research company’s stock valued at $1,403,000 after acquiring an additional 2,082 shares during the period. Compass Financial Management LLC grew its stake in IQVIA by 31.9% in the third quarter. Compass Financial Management LLC now owns 157 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 38 shares during the period. Rakuten Investment Management Inc. increased its holdings in shares of IQVIA by 8.1% in the third quarter. Rakuten Investment Management Inc. now owns 29,694 shares of the medical research company’s stock worth $7,987,000 after acquiring an additional 2,235 shares in the last quarter. Finally, Provenance Wealth Advisors LLC increased its holdings in shares of IQVIA by 86,460.0% in the third quarter. Provenance Wealth Advisors LLC now owns 4,328 shares of the medical research company’s stock worth $1,164,000 after acquiring an additional 4,323 shares in the last quarter. 89.62% of the stock is currently owned by institutional investors.

IQVIA Company Profile

IQVIA Holdings Inc is a global provider of technology, analytics and contract research services for the life sciences industry. The company helps pharmaceutical, biotechnology and medical device organizations develop, commercialize and improve products by combining healthcare data with advanced analytics, consulting and technology-enabled services.

Its offerings include clinical research and trial management, real-world evidence, healthcare data and analytics, regulatory and safety services, technology platforms, and commercial solutions.