IQVIA (NYSE:IQV) Price Target Cut to $255.00 by Analysts at TD Cowen

IQVIA (NYSE:IQV) had its price target cut by investment analysts at TD Cowen from $270.00 to $255.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. TD Cowen’s target price suggests a potential upside of 22.28% from the stock’s current price.

Other analysts have also issued reports about the company. Jefferies Financial Group lowered IQVIA from a “buy” rating to a “hold” rating and reduced their price objective for the company from $266.00 to $242.00 in a research note on Wednesday, July 24th. Morgan Stanley upped their price target on shares of IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Redburn Atlantic began coverage on shares of IQVIA in a report on Monday, October 14th. They issued a “buy” rating and a $276.00 price objective for the company. The Goldman Sachs Group decreased their price objective on IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a report on Friday. Finally, Evercore ISI reduced their price target on IQVIA from $270.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $262.71.

IQVIA Price Performance

NYSE IQV traded up $2.71 during midday trading on Friday, hitting $208.53. The company had a trading volume of 732,163 shares, compared to its average volume of 1,082,413. IQVIA has a twelve month low of $181.03 and a twelve month high of $261.73. The company has a market capitalization of $38.02 billion, a PE ratio of 27.08, a P/E/G ratio of 2.11 and a beta of 1.49. 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 $235.10 and a 200-day moving average price of $229.89.

Insiders Place Their Bets

In other news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction that occurred on 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 directly owns 19,536 shares of the company’s stock, valued at $4,812,302.88. This 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 available through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in IQVIA in the 3rd quarter valued at $27,000. Principal Financial Group Inc. raised its holdings in shares of IQVIA by 0.8% in the third quarter. Principal Financial Group Inc. now owns 209,021 shares of the medical research company’s stock valued at $49,532,000 after purchasing an additional 1,750 shares during the last quarter. Malaga Cove Capital LLC lifted its position in shares of IQVIA by 17.1% during the third quarter. Malaga Cove Capital LLC now owns 1,373 shares of the medical research company’s stock valued at $325,000 after purchasing an additional 200 shares in the last quarter. Graypoint LLC lifted its position in shares of IQVIA by 6.3% during the 3rd quarter. Graypoint LLC now owns 1,262 shares of the medical research company’s stock worth $299,000 after buying an additional 75 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in IQVIA by 5.6% during the third quarter. Concurrent Investment Advisors LLC now owns 5,679 shares of the medical research company’s stock worth $1,346,000 after acquiring an additional 301 shares during the period. Institutional investors own 89.62% of the company’s stock.

IQVIA Company Profile

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.