Royal Bank of Canada Reaffirms Outperform Rating for IQVIA (NYSE:IQV)

IQVIA (NYSE:IQV)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They presently have a $270.00 price objective on the medical research company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 32.77% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Evercore ISI dropped their price objective on IQVIA from $270.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Redburn Atlantic started coverage on shares of IQVIA in a research note on Monday, October 14th. They issued a “buy” rating and a $276.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their price objective on shares of IQVIA from $270.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Leerink Partners restated an “outperform” rating and issued a $248.00 price objective (down from $260.00) on shares of IQVIA in a research note on Tuesday, November 19th. Finally, Barclays cut their price target on IQVIA from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $256.50.

IQVIA Trading Up 1.4 %

Shares of IQV traded up $2.78 during trading hours on Wednesday, reaching $203.36. 206,464 shares of the company traded hands, compared to its average volume of 1,175,242. The firm has a market cap of $36.91 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 2.08 and a beta of 1.49. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. IQVIA has a 12-month low of $187.62 and a 12-month high of $261.73. The stock’s fifty day moving average price is $217.11 and its 200 day moving average price is $225.67.

Hedge Funds Weigh In On IQVIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in IQVIA in the 3rd quarter valued at approximately $27,000. Park Place Capital Corp acquired a new stake in IQVIA in the 3rd quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of IQVIA during the second quarter worth about $27,000. Itau Unibanco Holding S.A. acquired a new stake in IQVIA in the second quarter valued at approximately $29,000. Finally, International Assets Investment Management LLC acquired a new position in IQVIA during the 2nd quarter worth approximately $32,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

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.