IQVIA (NYSE:IQV) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of IQVIA (NYSE:IQV) in a research note published on Friday, Benzinga reports. They currently have a $270.00 price target on the medical research company’s stock.

Other research analysts have also issued research reports about the company. Robert W. Baird decreased their target price on IQVIA from $256.00 to $223.00 and set a “neutral” rating for the company in a research report on Friday. Barclays reduced their price target on IQVIA from $275.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Jefferies Financial Group lowered IQVIA from a “buy” rating to a “hold” rating and reduced their price target for the stock from $266.00 to $242.00 in a research report on Wednesday, July 24th. UBS Group boosted their price target on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group reduced their price target on IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, IQVIA has an average rating of “Moderate Buy” and a consensus price target of $261.24.

IQVIA Stock Up 1.6 %

IQV stock traded up $3.34 during midday trading on Friday, hitting $209.16. 1,791,887 shares of the company’s stock were exchanged, compared to its average volume of 1,125,496. The company has a current ratio of 0.81, a quick ratio of 0.85 and a debt-to-equity ratio of 1.76. IQVIA has a 12-month low of $181.03 and a 12-month high of $261.73. The firm has a 50 day moving average price of $234.31 and a 200-day moving average price of $229.74. The stock has a market capitalization of $38.13 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 2.01 and a beta of 1.51.

Insider Activity

In other news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the transaction, the insider now owns 19,536 shares in the company, valued at approximately $4,812,302.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC grew its holdings in shares of IQVIA by 7.3% during the first quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock valued at $35,636,000 after buying an additional 9,578 shares in the last quarter. PGGM Investments grew its stake in IQVIA by 55.8% in the second quarter. PGGM Investments now owns 12,073 shares of the medical research company’s stock valued at $2,553,000 after purchasing an additional 4,326 shares in the last quarter. SG Americas Securities LLC grew its stake in IQVIA by 80.1% in the first quarter. SG Americas Securities LLC now owns 45,787 shares of the medical research company’s stock valued at $11,579,000 after purchasing an additional 20,369 shares in the last quarter. Quadrature Capital Ltd purchased a new position in IQVIA in the first quarter valued at about $3,365,000. Finally, BNP Paribas purchased a new position in IQVIA in the first quarter valued at about $1,096,000. 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.