IQVIA (NYSE:IQV) Shares Gap Down – Here’s What Happened

IQVIA Holdings Inc. (NYSE:IQV)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $216.04, but opened at $200.30. IQVIA shares last traded at $202.71, with a volume of 621,098 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IQV shares. Barclays cut their target price on shares of IQVIA from $275.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price target on shares of IQVIA from $288.00 to $279.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Evercore ISI lowered their price target on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Redburn Atlantic initiated coverage on shares of IQVIA in a report on Monday, October 14th. They set a “buy” rating and a $276.00 price target for the company. Finally, Jefferies Financial Group cut shares of IQVIA from a “buy” rating to a “hold” rating and lowered their price target for the stock from $266.00 to $242.00 in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.27.

IQVIA Stock Performance

The stock has a market cap of $38.35 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 2.09 and a beta of 1.49. The stock’s 50 day moving average is $235.88 and its two-hundred day moving average is $230.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80.

Insiders Place Their Bets

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the transaction, the insider now owns 19,536 shares in the company, valued at approximately $4,812,302.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 made changes to their positions in the stock. Graypoint LLC grew its stake in IQVIA by 6.3% in the 3rd quarter. Graypoint LLC now owns 1,262 shares of the medical research company’s stock valued at $299,000 after acquiring an additional 75 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in IQVIA by 5.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 5,679 shares of the medical research company’s stock valued at $1,346,000 after acquiring an additional 301 shares during the last quarter. Maia Wealth LLC grew its stake in IQVIA by 10.5% in the 3rd quarter. Maia Wealth LLC now owns 12,767 shares of the medical research company’s stock valued at $3,025,000 after acquiring an additional 1,213 shares during the last quarter. Hardman Johnston Global Advisors LLC grew its stake in IQVIA by 0.6% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 229,055 shares of the medical research company’s stock valued at $54,279,000 after acquiring an additional 1,360 shares during the last quarter. Finally, Marks Group Wealth Management Inc boosted its stake in shares of IQVIA by 2.0% during the 3rd quarter. Marks Group Wealth Management Inc now owns 34,602 shares of the medical research company’s stock worth $8,200,000 after purchasing an additional 678 shares during 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.