IQVIA (NYSE:IQV) Price Target Lowered to $245.00 at Robert W. Baird

IQVIA (NYSE:IQV) had its price objective decreased by Robert W. Baird from $254.00 to $245.00 in a research note published on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the medical research company’s stock.

Several other research analysts have also weighed in on IQV. Evercore ISI increased their price objective on shares of IQVIA from $255.00 to $265.00 and gave the stock a market outperform rating in a report on Thursday, February 15th. SVB Leerink began coverage on IQVIA in a research report on Monday, February 26th. They issued an outperform rating and a $290.00 target price on the stock. UBS Group lifted their price objective on IQVIA from $240.00 to $300.00 and gave the company a buy rating in a research note on Thursday, February 15th. BTIG Research started coverage on shares of IQVIA in a report on Tuesday, February 13th. They issued a buy rating and a $285.00 price target on the stock. Finally, Guggenheim lowered shares of IQVIA from a buy rating to a neutral rating in a research report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, IQVIA has a consensus rating of Moderate Buy and an average price target of $257.57.

IQVIA Price Performance

IQVIA stock traded up $1.23 during mid-day trading on Friday, hitting $223.37. 1,052,929 shares of the company were exchanged, compared to its average volume of 831,136. The business’s 50 day simple moving average is $244.56 and its two-hundred day simple moving average is $223.84. IQVIA has a 12-month low of $167.42 and a 12-month high of $261.73. The company has a market capitalization of $40.54 billion, a P/E ratio of 30.52, a PEG ratio of 2.15 and a beta of 1.52. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.88 and a quick ratio of 0.86.

IQVIA (NYSE:IQV) last announced its quarterly earnings data 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. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.80 billion. IQVIA had a net margin of 9.01% and a return on equity of 29.17%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.54 earnings per share. Analysts forecast that IQVIA will post 10.12 earnings per share for the current fiscal year.

Insider Buying and Selling at IQVIA

In other IQVIA news, insider Eric Sherbet sold 1,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $241.50, for a total transaction of $241,500.00. Following the completion of the sale, the insider now owns 20,836 shares in the company, valued at $5,031,894. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Kevin C. Knightly sold 8,607 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the completion of the transaction, the insider now owns 5,251 shares in the company, valued at approximately $1,313,642.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Sherbet sold 1,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $241.50, for a total value of $241,500.00. Following the completion of the sale, the insider now directly owns 20,836 shares in the company, valued at $5,031,894. The disclosure for this sale can be found here. Insiders have sold 41,285 shares of company stock worth $10,331,003 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IQVIA

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in IQVIA during the 4th quarter worth $383,705,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in IQVIA by 339.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock worth $478,308,000 after purchasing an additional 1,597,003 shares during the period. AMF Tjanstepension AB bought a new position in IQVIA in the 3rd quarter valued at about $148,096,000. Morningstar Investment Services LLC lifted its stake in shares of IQVIA by 96.9% in the 4th quarter. Morningstar Investment Services LLC now owns 1,231,916 shares of the medical research company’s stock worth $286,704,000 after acquiring an additional 606,333 shares during the period. Finally, Capital Research Global Investors increased its stake in shares of IQVIA by 42.2% during the fourth quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock valued at $461,675,000 after acquiring an additional 592,372 shares during the period. Institutional investors 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.