IQVIA (NYSE:IQV) Price Target Lowered to $292.00 at Truist Financial

IQVIA (NYSE:IQV) had its price objective trimmed by Truist Financial from $297.00 to $292.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Other analysts have also recently issued reports about the company. StockNews.com raised IQVIA from a hold rating to a buy rating in a research report on Friday, February 16th. SVB Leerink assumed coverage on shares of IQVIA in a research report on Monday, February 26th. They issued an outperform rating and a $290.00 price target for the company. Barclays raised their price objective on shares of IQVIA from $260.00 to $265.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Evercore ISI upped their target price on shares of IQVIA from $255.00 to $265.00 and gave the company a market outperform rating in a report on Thursday, February 15th. Finally, Guggenheim lowered IQVIA from a buy rating to a neutral rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, IQVIA currently has a consensus rating of Moderate Buy and a consensus price target of $257.57.

IQVIA Stock Up 0.6 %

IQV stock traded up $1.23 during trading on Friday, hitting $223.37. 1,052,929 shares of the company’s stock were exchanged, compared to its average volume of 831,136. The business has a 50-day moving average price of $244.08 and a two-hundred day moving average price of $224.01. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $40.54 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.15 and a beta of 1.52. IQVIA has a 52-week low of $167.42 and a 52-week high of $261.73.

IQVIA (NYSE:IQV) last issued its earnings results on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.02. IQVIA had a net margin of 9.01% and a return on equity of 29.17%. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter in the prior year, the business posted $2.54 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities research analysts expect that IQVIA will post 10.12 EPS for the current year.

Insider Transactions at IQVIA

In related news, insider Ari Bousbib sold 31,678 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the sale, the insider now owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Kevin C. Knightly sold 8,607 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.17, for a total value of $2,153,213.19. Following the completion of the transaction, the insider now owns 5,251 shares in the company, valued at $1,313,642.67. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ari Bousbib sold 31,678 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the completion of the sale, the insider now owns 796,752 shares in the company, valued at $199,610,278.56. The disclosure for this sale can be found here. Insiders have sold a total of 41,285 shares of company stock valued at $10,331,003 in the last ninety days. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IQVIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. raised its position in shares of IQVIA by 5.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 12,138 shares of the medical research company’s stock worth $3,070,000 after purchasing an additional 649 shares during the last quarter. Team Hewins LLC raised its holdings in shares of IQVIA by 5.0% in the first quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock worth $246,000 after acquiring an additional 46 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of IQVIA in the first quarter valued at $48,818,000. Markel Group Inc. boosted its stake in shares of IQVIA by 10.1% during the first quarter. Markel Group Inc. now owns 55,726 shares of the medical research company’s stock valued at $14,093,000 after acquiring an additional 5,100 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in IQVIA during the 1st quarter worth about $700,000. Institutional investors and hedge funds 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.