IQVIA (NYSE:IQV) Shares Gap Up – Here’s Why

Shares of IQVIA Holdings Inc. (NYSE:IQV) gapped up before the market opened on Thursday . The stock had previously closed at $205.44, but opened at $218.10. IQVIA shares last traded at $215.73, with a volume of 222,162 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Barclays dropped their target price on IQVIA from $255.00 to $235.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group cut their price objective on shares of IQVIA from $280.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $270.00 target price on shares of IQVIA in a research report on Wednesday, December 11th. Truist Financial cut their price target on shares of IQVIA from $265.00 to $261.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Leerink Partners restated an “outperform” rating and issued a $248.00 price objective (down previously from $260.00) on shares of IQVIA in a report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $252.39.

IQVIA Stock Performance

The company has a fifty day moving average of $200.53 and a two-hundred day moving average of $219.80. The firm has a market capitalization of $37.78 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.25 and a beta of 1.48. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.81 and a current ratio of 0.84.

IQVIA (NYSE:IQV) last announced its earnings results on Thursday, February 6th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. As a group, equities research analysts predict that IQVIA Holdings Inc. will post 10.81 earnings per share for the current fiscal year.

Insider Transactions at IQVIA

In related news, Director John G. Danhakl purchased 1,275 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $200.58 per share, for a total transaction of $255,739.50. Following the completion of the transaction, the director now owns 1,275 shares of the company’s stock, valued at approximately $255,739.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

Institutional Trading of IQVIA

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in IQVIA during the fourth quarter worth $236,120,000. FMR LLC raised its stake in shares of IQVIA by 38.7% during the third quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock valued at $684,213,000 after acquiring an additional 804,963 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of IQVIA in the third quarter valued at about $147,683,000. JPMorgan Chase & Co. lifted its position in shares of IQVIA by 46.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,845,711 shares of the medical research company’s stock worth $437,378,000 after purchasing an additional 583,396 shares during the period. Finally, Nordea Investment Management AB raised its stake in 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 last quarter. 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.