Iqvia (IQV) Reaches New 52-Week High on Analyst Upgrade
Iqvia Holdings Inc (NYSE:IQV) shares reached a new 52-week high on Monday after Raymond James raised their price target on the stock from $136.00 to $145.00. Raymond James currently has a strong-buy rating on the stock. Iqvia traded as high as $127.28 and last traded at $127.09, with a volume of 736695 shares. The stock had previously closed at $125.91.
IQV has been the subject of a number of other reports. Royal Bank of Canada reiterated a “$110.25” rating and set a $128.00 target price on shares of Iqvia in a research report on Thursday, July 19th. Argus set a $136.00 target price on Iqvia and gave the company a “buy” rating in a research report on Thursday, August 23rd. Piper Jaffray Companies reiterated a “hold” rating and set a $97.00 target price on shares of Iqvia in a research report on Wednesday, July 25th. Barclays reiterated an “overweight” rating and set a $130.00 target price (up from $120.00) on shares of Iqvia in a research report on Wednesday, July 25th. Finally, Bank of America upgraded Iqvia from a “neutral” rating to a “buy” rating and set a $135.00 target price for the company in a research report on Wednesday, July 25th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Iqvia has a consensus rating of “Buy” and an average target price of $126.79.
In related news, Director Ronald A. Rittenmeyer sold 7,680 shares of the stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $122.41, for a total transaction of $940,108.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Connaughton sold 1,441,236 shares of the stock in a transaction on Friday, June 15th. The shares were sold at an average price of $103.00, for a total value of $148,447,308.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,201,623 shares of company stock worth $1,160,990,595 in the last 90 days. 6.00% of the stock is currently owned by insiders.
The company has a debt-to-equity ratio of 1.40, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $25.75 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.82 and a beta of 0.70.
Iqvia (NYSE:IQV) last released its earnings results on Tuesday, July 24th. The medical research company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.15. Iqvia had a return on equity of 13.51% and a net margin of 12.68%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.50 billion. The company’s revenue was up 9.0% on a year-over-year basis. analysts expect that Iqvia Holdings Inc will post 5.13 earnings per share for the current fiscal year.
About Iqvia (NYSE:IQV)
IQVIA Holdings Inc provides integrated information and technology-enabled healthcare services in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Commercial Solutions, Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offers a range of cloud-based applications and related implementation, real-world insights, and reference information services; and strategic and implementation consulting services, such as advanced analytics and commercial processes outsourcing services.
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