IQVIA (NYSE:IQV) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of IQVIA (NYSE:IQV) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $275.00 price target on the medical research company’s stock.

A number of other analysts have also recently commented on the company. StockNews.com cut IQVIA from a buy rating to a hold rating in a research report on Tuesday, August 27th. Robert W. Baird lifted their price target on shares of IQVIA from $235.00 to $251.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. Evercore ISI upped their price objective on shares of IQVIA from $230.00 to $270.00 and gave the company an outperform rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of IQVIA from $260.00 to $288.00 and gave the stock an overweight rating in a research note on Monday, August 5th. Finally, UBS Group raised their price objective on IQVIA from $295.00 to $300.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $266.67.

IQVIA Stock Performance

NYSE:IQV opened at $243.10 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. The firm has a 50-day moving average price of $234.92 and a two-hundred day moving average price of $234.63. IQVIA has a twelve month low of $167.42 and a twelve month high of $261.73. The company has a market capitalization of $44.29 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 2.37 and a beta of 1.49.

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

Insider Activity at IQVIA

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

Institutional Trading of IQVIA

Large investors have recently bought and sold shares of the company. First Foundation Advisors grew its holdings in IQVIA by 3.8% during the 2nd quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock valued at $245,000 after purchasing an additional 43 shares in the last quarter. Team Hewins LLC boosted its position in IQVIA by 5.0% in the 1st quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock valued at $246,000 after buying an additional 46 shares during the last quarter. Invera Wealth Advisors LLC grew its stake in shares of IQVIA by 0.3% during 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 acquiring an additional 46 shares in the last quarter. Covestor Ltd increased its position in shares of IQVIA by 45.3% during the first quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock worth $39,000 after acquiring an additional 48 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of IQVIA by 0.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock worth $3,313,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds 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.