IQVIA (NYSE:IQV) Receives Outperform Rating from Royal Bank of Canada

IQVIA (NYSE:IQV)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank of Canada in a note issued to investors on Monday,Benzinga reports. They currently have a $270.00 target price on the medical research company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 31.22% from the stock’s previous close.

A number of other equities analysts have also issued reports on IQV. Truist Financial reissued a “buy” rating and set a $263.00 price target (up from $261.00) on shares of IQVIA in a research report on Monday. Redburn Atlantic assumed coverage on shares of IQVIA in a research report on Monday, October 14th. They set a “buy” rating and a $276.00 price target for the company. The Goldman Sachs Group reduced their price target on shares of IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Morgan Stanley cut their target price on shares of IQVIA from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of IQVIA from $270.00 to $265.00 and set a “buy” rating for the company in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, IQVIA has a consensus rating of “Moderate Buy” and an average target price of $252.50.

IQVIA Stock Performance

Shares of IQVIA stock traded down $2.38 during midday trading on Monday, hitting $205.76. The company had a trading volume of 282,535 shares, compared to its average volume of 1,395,800. The stock has a market cap of $37.35 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 2.25 and a beta of 1.48. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The company has a fifty day simple moving average of $200.67 and a 200 day simple moving average of $219.27. IQVIA has a 12-month low of $187.62 and a 12-month high of $261.73.

IQVIA (NYSE:IQV) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing the consensus estimate 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, analysts predict that IQVIA will post 10.81 earnings per share for the current fiscal year.

Insider Transactions at IQVIA

In other news, Director John G. Danhakl acquired 1,275 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $200.58 per share, with a total value of $255,739.50. Following the completion of the acquisition, the director now owns 1,275 shares of the company’s stock, valued at $255,739.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. FMR LLC lifted its position in IQVIA by 38.7% in the third quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock valued at $684,213,000 after buying an additional 804,963 shares during the last quarter. Cantillon Capital Management LLC lifted its position in IQVIA by 12.3% in the fourth quarter. Cantillon Capital Management LLC now owns 2,066,144 shares of the medical research company’s stock valued at $406,018,000 after buying an additional 226,017 shares during the last quarter. JPMorgan Chase & Co. lifted its position in IQVIA by 46.2% in the third quarter. JPMorgan Chase & Co. now owns 1,845,711 shares of the medical research company’s stock valued at $437,378,000 after buying an additional 583,396 shares during the last quarter. Impax Asset Management Group plc lifted its position in IQVIA by 9.7% in the third quarter. Impax Asset Management Group plc now owns 1,793,010 shares of the medical research company’s stock valued at $423,885,000 after buying an additional 157,809 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in IQVIA by 47.4% in the fourth quarter. Nordea Investment Management AB now owns 1,405,281 shares of the medical research company’s stock valued at $277,908,000 after buying an additional 452,029 shares during the last quarter. Institutional investors and hedge funds own 89.62% of the company’s stock.

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.