IQVIA (NYSE:IQV) Sets New 52-Week Low – Here’s Why

IQVIA Holdings Inc. (NYSE:IQV)’s share price reached a new 52-week low on Friday . The stock traded as low as $194.97 and last traded at $195.24, with a volume of 575499 shares traded. The stock had previously closed at $202.94.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IQV shares. TD Cowen reduced their price objective on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, November 1st. UBS Group lifted their price target on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley reduced their price objective on IQVIA from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. StockNews.com lowered shares of IQVIA from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Barclays lowered their price objective on shares of IQVIA from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $259.13.

IQVIA Price Performance

The business has a fifty day moving average of $227.96 and a 200-day moving average of $228.59. The firm has a market cap of $34.85 billion, a PE ratio of 25.62, a PEG ratio of 2.17 and a beta of 1.51. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76.

Insiders Place Their Bets

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was 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. This trade represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On IQVIA

Several hedge funds have recently bought and sold shares of IQV. Capital Performance Advisors LLP bought a new stake in IQVIA during the third quarter worth about $27,000. Park Place Capital Corp bought a new position in IQVIA during the 3rd quarter worth approximately $28,000. Versant Capital Management Inc lifted its position in IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of IQVIA during the second quarter valued at approximately $27,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of IQVIA in the second quarter worth $29,000. 89.62% of the stock is currently owned by institutional investors.

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.