Truist Financial Lowers IQVIA (NYSE:IQV) Price Target to $265.00

IQVIA (NYSE:IQV) had its target price cut by Truist Financial from $286.00 to $265.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other equities research analysts have also weighed in on the stock. UBS Group upped their target price on shares of IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Barclays lowered their target price on IQVIA from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday. Jefferies Financial Group downgraded shares of 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. TD Cowen dropped their price target on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday. Finally, Evercore ISI dropped their price objective on IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. 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 company. According to MarketBeat, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.56.

IQVIA Stock Performance

IQV traded up $0.78 during midday trading on Monday, reaching $210.97. The company’s stock had a trading volume of 97,562 shares, compared to its average volume of 1,087,157. IQVIA has a twelve month low of $190.20 and a twelve month high of $261.73. The stock has a market cap of $38.29 billion, a P/E ratio of 27.58, a PEG ratio of 2.07 and a beta of 1.51. The company has a fifty day simple moving average of $233.55 and a 200 day simple moving average of $229.64. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76.

Insider Activity

In other news, insider Eric Sherbet sold 1,300 shares of the company’s 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 completion of the sale, the insider now directly owns 19,536 shares in the company, valued at approximately $4,812,302.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On IQVIA

A number of large investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of IQVIA by 3.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,023,264 shares of the medical research company’s stock worth $242,483,000 after acquiring an additional 38,307 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of IQVIA in the 3rd quarter valued at $230,000. Apollon Wealth Management LLC raised its holdings in shares of IQVIA by 9.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 4,874 shares of the medical research company’s stock worth $1,155,000 after buying an additional 427 shares in the last quarter. Keystone Financial Services bought a new stake in shares of IQVIA during the 3rd quarter worth $238,000. Finally, Versor Investments LP bought a new position in shares of IQVIA in the third quarter worth about $1,328,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

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.