Robert W. Baird Raises IQVIA (NYSE:IQV) Price Target to $256.00

IQVIA (NYSE:IQV) had its price objective boosted by Robert W. Baird from $251.00 to $256.00 in a report published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the medical research company’s stock.

IQV has been the topic of several other research reports. Morgan Stanley raised their target price on shares of IQVIA from $270.00 to $280.00 and gave the company an overweight rating in a research note on Tuesday, July 23rd. Argus upgraded IQVIA to a strong-buy rating in a research report on Wednesday, July 31st. Royal Bank of Canada assumed coverage on IQVIA in a research report on Wednesday, September 4th. They set an outperform rating and a $275.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on IQVIA from $260.00 to $288.00 and gave the stock an overweight rating in a research note on Monday, August 5th. Finally, Jefferies Financial Group cut IQVIA from a buy rating to a hold rating and decreased their target price for the company from $266.00 to $242.00 in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $267.00.

IQVIA Trading Down 1.0 %

IQVIA stock opened at $242.12 on Friday. The firm has a 50-day moving average price of $240.60 and a two-hundred day moving average price of $233.94. IQVIA has a 52-week low of $167.42 and a 52-week high of $261.73. The firm has a market capitalization of $44.14 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.25 and a beta of 1.49. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80.

IQVIA (NYSE:IQV) last posted its earnings results on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the firm earned $2.22 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that IQVIA will post 10.25 earnings per share for the current year.

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of 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 accessible through this link. Company insiders own 1.60% of the company’s stock.

Institutional Trading of IQVIA

Several institutional investors have recently made changes to their positions in the stock. First Foundation Advisors lifted its position in IQVIA by 3.8% in the 2nd quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock worth $245,000 after buying an additional 43 shares in the last quarter. Team Hewins LLC boosted its position in IQVIA by 5.0% during the first quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock valued at $246,000 after purchasing an additional 46 shares during the last quarter. Invera Wealth Advisors LLC grew its stake in IQVIA by 0.3% in the second quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock valued at $3,183,000 after purchasing an additional 46 shares in the last quarter. Covestor Ltd increased its position in IQVIA by 45.3% in the 1st quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock worth $39,000 after purchasing an additional 48 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of IQVIA by 0.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock worth $3,313,000 after purchasing an additional 48 shares in the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.

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.