IQVIA (NYSE:IQV) Cut to “Hold” at StockNews.com

StockNews.com cut shares of IQVIA (NYSE:IQV) from a buy rating to a hold rating in a report released on Tuesday morning.

IQV has been the subject of several other reports. Truist Financial lifted their target price on shares of IQVIA from $292.00 to $300.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Morgan Stanley boosted their price objective on shares of IQVIA from $270.00 to $280.00 and gave the company an overweight rating in a report on Tuesday, July 23rd. Jefferies Financial Group cut shares of IQVIA from a buy rating to a hold rating and decreased their price objective for the company from $266.00 to $242.00 in a report on Wednesday, July 24th. Barclays boosted their price objective on shares of IQVIA from $255.00 to $275.00 and gave the company an overweight rating in a report on Tuesday, July 23rd. Finally, UBS Group boosted their price objective on shares of IQVIA from $295.00 to $300.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IQVIA currently has an average rating of Moderate Buy and a consensus target price of $265.67.

IQVIA Stock Performance

IQVIA stock opened at $251.54 on Tuesday. The stock has a market cap of $45.83 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 2.26 and a beta of 1.49. The firm’s fifty day moving average price is $231.33 and its 200-day moving average price is $234.20. IQVIA has a fifty-two week low of $167.42 and a fifty-two week high of $261.73. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.22 EPS. On average, equities research analysts expect that IQVIA will post 10.24 earnings per share for the current fiscal year.

Insider Activity at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total value of $320,229.00. Following the sale, the insider now owns 19,536 shares of the company’s stock, valued at $4,812,302.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of IQVIA in the 4th quarter valued at about $383,705,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of IQVIA by 339.6% in 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 valued at $478,308,000 after buying an additional 1,597,003 shares in the last quarter. Morningstar Investment Services LLC boosted 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 buying an additional 606,333 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of IQVIA by 42.2% in 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 buying an additional 592,372 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of IQVIA by 472.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 456,335 shares of the medical research company’s stock valued at $96,487,000 after purchasing an additional 376,595 shares during the last quarter. 89.62% of the stock is currently owned by institutional investors.

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.