Evercore ISI Boosts IQVIA (NYSE:IQV) Price Target to $270.00

IQVIA (NYSE:IQV) had its price objective raised by Evercore ISI from $230.00 to $270.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price target indicates a potential upside of 12.42% from the stock’s current price.

Several other equities analysts have also commented on IQV. Barclays boosted their price target on IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday. Robert W. Baird boosted their price target on IQVIA from $235.00 to $251.00 and gave the stock a “neutral” rating in a research report on Tuesday. Truist Financial upped their target price on IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday. StockNews.com raised IQVIA from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Finally, The Goldman Sachs Group started coverage on IQVIA in a research report on Thursday, June 6th. They issued a “buy” rating and a $270.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $261.33.

IQVIA Trading Down 2.1 %

Shares of NYSE:IQV traded down $5.05 during trading on Tuesday, reaching $240.18. 102,281 shares of the stock were exchanged, compared to its average volume of 1,069,433. 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 has a 12-month low of $167.42 and a 12-month high of $261.73. The firm has a market cap of $43.76 billion, a price-to-earnings ratio of 32.81, a price-to-earnings-growth ratio of 2.06 and a beta of 1.49. The firm’s 50-day moving average price is $219.86 and its 200 day moving average price is $229.08.

IQVIA (NYSE:IQV) last released its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, topping the consensus estimate of $2.57 by $0.07. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.79 billion. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. IQVIA’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.22 EPS. On average, sell-side analysts anticipate that IQVIA will post 10.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IQV. Mutual Advisors LLC bought a new position in shares of IQVIA in the fourth quarter worth $217,000. HB Wealth Management LLC grew its stake in shares of IQVIA by 38.7% in the fourth quarter. HB Wealth Management LLC now owns 2,202 shares of the medical research company’s stock worth $509,000 after purchasing an additional 614 shares in the last quarter. CVA Family Office LLC bought a new position in shares of IQVIA in the fourth quarter worth $43,000. Investment Research & Advisory Group Inc. grew its stake in shares of IQVIA by 1.2% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 17,405 shares of the medical research company’s stock worth $4,027,000 after purchasing an additional 210 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its stake in shares of IQVIA by 0.3% in the fourth quarter. WASHINGTON TRUST Co now owns 107,432 shares of the medical research company’s stock worth $24,858,000 after purchasing an additional 355 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.