IQVIA (NYSE:IQV) Price Target Cut to $260.00 by Analysts at BTIG Research

IQVIA (NYSE:IQV) had its target price lowered by BTIG Research from $290.00 to $260.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Other research analysts have also issued reports about the company. Argus upgraded IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their price objective on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Truist Financial cut their target price on shares of IQVIA from $300.00 to $286.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group lowered their price target on shares of IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a research report on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $270.00 price objective on shares of IQVIA in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $263.81.

IQVIA Trading Up 1.6 %

Shares of NYSE IQV opened at $209.16 on Friday. IQVIA has a 1-year low of $181.03 and a 1-year high of $261.73. The company has a current ratio of 0.81, a quick ratio of 0.85 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average of $234.31 and a two-hundred day moving average of $229.76. The company has a market cap of $38.13 billion, a PE ratio of 27.45, a P/E/G ratio of 2.01 and a beta of 1.51.

Insider Transactions at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the transaction, the insider now directly owns 19,536 shares in the company, valued at approximately $4,812,302.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IQVIA

A number of large investors have recently added to or reduced their stakes in the company. 1832 Asset Management L.P. boosted its position in shares of IQVIA by 472.3% during the second quarter. 1832 Asset Management L.P. now owns 456,335 shares of the medical research company’s stock worth $96,487,000 after buying an additional 376,595 shares during the period. Renaissance Technologies LLC acquired a new position in IQVIA during the 2nd quarter worth approximately $70,610,000. Impax Asset Management Group plc grew its stake in shares of IQVIA by 19.3% during the 2nd quarter. Impax Asset Management Group plc now owns 1,635,201 shares of the medical research company’s stock worth $344,998,000 after acquiring an additional 264,555 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of IQVIA by 6.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock valued at $719,634,000 after purchasing an additional 211,653 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of IQVIA by 285.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 268,552 shares of the medical research company’s stock worth $56,783,000 after purchasing an additional 198,808 shares in the last quarter. 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.