IQVIA’s (IQV) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of IQVIA (NYSE:IQV) in a report published on Friday morning, Benzinga reports. The brokerage currently has a $270.00 target price on the medical research company’s stock.

Several other research firms have also issued reports on IQV. Truist Financial dropped their price objective on IQVIA from $300.00 to $286.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Redburn Atlantic assumed coverage on IQVIA in a research report on Monday, October 14th. They set a “buy” rating and a $276.00 price target for the company. Evercore ISI decreased their price objective on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. UBS Group lifted their target price on shares of IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird decreased their price target on shares of IQVIA from $256.00 to $223.00 and set a “neutral” rating on the stock in a report on Friday. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and an average target price of $261.56.

IQVIA Stock Performance

IQVIA stock opened at $210.19 on Friday. IQVIA has a 1-year low of $190.20 and a 1-year high of $261.73. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $38.15 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.07 and a beta of 1.51. The firm’s 50 day simple moving average is $233.55 and its 200 day simple moving average is $229.64.

Insiders Place Their Bets

In other news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 19,536 shares in the company, valued at approximately $4,812,302.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board increased its stake in shares of IQVIA by 6.6% during the second quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock valued at $719,634,000 after buying an additional 211,653 shares during the period. Lazard Asset Management LLC increased its position in IQVIA by 0.9% during the 1st quarter. Lazard Asset Management LLC now owns 3,263,944 shares of the medical research company’s stock valued at $825,416,000 after purchasing an additional 30,014 shares during the period. Farallon Capital Management LLC raised its holdings in IQVIA by 3.1% in the 2nd quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock worth $618,046,000 after purchasing an additional 86,870 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of IQVIA by 3.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,510,685 shares of the medical research company’s stock worth $634,927,000 after purchasing an additional 92,293 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of IQVIA by 7.2% during the 1st quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company’s stock valued at $540,882,000 after purchasing an additional 143,533 shares in the last quarter. Institutional investors 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.