IQVIA (NYSE:IQV) Price Target Cut to $230.00

IQVIA (NYSE:IQVGet Free Report) had its price objective dropped by investment analysts at Evercore ISI from $250.00 to $230.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price objective indicates a potential upside of 8.51% from the stock’s current price.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of IQVIA from a “buy” rating to a “hold” rating in a report on Sunday. Robert W. Baird cut their price objective on IQVIA from $254.00 to $245.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. The Goldman Sachs Group began coverage on IQVIA in a report on Thursday, June 6th. They set a “buy” rating and a $270.00 target price for the company. Truist Financial decreased their price objective on shares of IQVIA from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, Barclays decreased their price target on shares of IQVIA from $275.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.73.

Read Our Latest Research Report on IQV

IQVIA Price Performance

Shares of IQV stock opened at $211.97 on Tuesday. The firm has a market capitalization of $38.62 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.90 and a beta of 1.49. IQVIA has a fifty-two week low of $167.42 and a fifty-two week high of $261.73. The stock’s 50-day simple moving average is $219.75 and its 200-day simple moving average is $229.10. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.88 and a current ratio of 0.88.

IQVIA (NYSE:IQVGet Free Report) last posted its earnings results on Thursday, May 2nd. The medical research company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.11. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. As a group, equities analysts forecast that IQVIA will post 10.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of IQVIA during the fourth quarter worth about $383,705,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in IQVIA by 339.6% during the 4th 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 buying an additional 1,597,003 shares during the last quarter. Morningstar Investment Services LLC increased its holdings 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 valued at $286,704,000 after acquiring an additional 606,333 shares during the last quarter. Capital Research Global Investors raised its position in shares of IQVIA by 42.2% during the 4th 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 in the last quarter. Finally, Cadian Capital Management LP acquired a new position in IQVIA in the fourth quarter worth $70,108,000. 89.62% of the stock is currently owned by institutional investors.

About IQVIA

(Get Free Report)

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.

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Analyst Recommendations for IQVIA (NYSE:IQV)

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