IQVIA (NYSE:IQV) Price Target Cut to $235.00 by Analysts at Barclays

IQVIA (NYSE:IQV) had its price objective dropped by stock analysts at Barclays from $255.00 to $235.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective indicates a potential upside of 17.18% from the stock’s current price.

IQV has been the subject of several other reports. Leerink Partners reaffirmed an “outperform” rating and set a $248.00 target price (down from $260.00) on shares of IQVIA in a research note on Tuesday, November 19th. Morgan Stanley decreased their price objective on shares of IQVIA from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Evercore ISI cut their target price on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $270.00 price target on shares of IQVIA in a research note on Wednesday, December 11th. Finally, Bank of America reduced their target price on IQVIA from $255.00 to $235.00 and set a “buy” rating for the company in a report on Friday, December 13th. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $254.53.

IQVIA Price Performance

Shares of IQVIA stock traded down $0.82 on Monday, hitting $200.54. The company’s stock had a trading volume of 608,893 shares, compared to its average volume of 1,350,223. The company has a market capitalization of $36.40 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 2.15 and a beta of 1.48. IQVIA has a 1 year low of $187.62 and a 1 year high of $261.73. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a fifty day moving average price of $200.41 and a 200-day moving average price of $220.32.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IQV. Smith Group Asset Management LLC acquired a new position in shares of IQVIA in the 4th quarter worth approximately $1,616,000. Simplify Asset Management Inc. lifted its stake in IQVIA by 67.8% during the third quarter. Simplify Asset Management Inc. now owns 9,637 shares of the medical research company’s stock worth $2,284,000 after purchasing an additional 3,894 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of IQVIA by 47.4% during the fourth quarter. Nordea Investment Management AB now owns 1,405,281 shares of the medical research company’s stock worth $277,908,000 after buying an additional 452,029 shares during the period. Fifth Third Bancorp raised its holdings in shares of IQVIA by 13.0% in the 4th quarter. Fifth Third Bancorp now owns 13,179 shares of the medical research company’s stock valued at $2,590,000 after buying an additional 1,521 shares during the period. Finally, Versor Investments LP acquired a new position in IQVIA during the 3rd quarter worth about $1,328,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

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.