IQVIA (NYSE:IQV) Given New $232.00 Price Target at JPMorgan Chase & Co.

IQVIA (NYSE:IQV) had its target price lowered by JPMorgan Chase & Co. from $240.00 to $232.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

A number of other analysts also recently issued reports on the stock. Robert W. Baird dropped their price target on shares of IQVIA from $212.00 to $210.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Truist Financial restated a “buy” rating and issued a $263.00 target price (up previously from $261.00) on shares of IQVIA in a report on Monday, February 10th. The Goldman Sachs Group lowered their price target on IQVIA from $280.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Stifel Nicolaus dropped their price target on IQVIA from $273.00 to $261.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Leerink Partners reiterated an “outperform” rating and set a $248.00 price objective (down previously from $260.00) on shares of IQVIA in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, IQVIA presently has an average rating of “Moderate Buy” and a consensus target price of $251.22.

IQVIA Stock Performance

IQV stock opened at $194.01 on Tuesday. The stock’s 50 day simple moving average is $199.86 and its 200 day simple moving average is $216.95. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. IQVIA has a 12-month low of $187.62 and a 12-month high of $261.73. The stock has a market capitalization of $34.16 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 1.98 and a beta of 1.48.

IQVIA (NYSE:IQV) last announced its quarterly 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, research analysts forecast that IQVIA will post 10.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John G. Danhakl acquired 1,275 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average cost of $200.58 per share, for a total transaction of $255,739.50. Following the transaction, the director now directly 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 hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On IQVIA

A number of institutional investors have recently bought and sold shares of the business. Smith Group Asset Management LLC bought a new position in shares of IQVIA in the fourth quarter worth about $1,616,000. Simplify Asset Management Inc. lifted its holdings in IQVIA by 67.8% in the 3rd 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 stake in IQVIA by 47.4% in the 4th quarter. Nordea Investment Management AB now owns 1,405,281 shares of the medical research company’s stock worth $277,908,000 after purchasing an additional 452,029 shares during the period. Hickory Asset Management Inc. purchased a new stake in IQVIA during the 4th quarter valued at approximately $941,000. Finally, Fifth Third Bancorp raised its position in shares of IQVIA by 13.0% during the fourth 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 last quarter. Hedge funds and other 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.