StockNews.com upgraded shares of IQVIA (NYSE:IQV – Free Report) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.
Several other analysts also recently commented on the stock. Truist Financial raised their price objective on shares of IQVIA from $292.00 to $300.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Barclays raised their price objective on shares of IQVIA from $255.00 to $275.00 and gave the stock an overweight rating in a research report on Tuesday, July 23rd. Robert W. Baird raised their price objective on shares of IQVIA from $235.00 to $251.00 and gave the stock a neutral rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on shares of IQVIA in a research report on Thursday, June 6th. They set a buy rating and a $270.00 price objective for the company. Finally, Jefferies Financial Group cut IQVIA from a buy rating to a hold rating and cut their target price for the stock from $266.00 to $242.00 in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, IQVIA currently has a consensus rating of Moderate Buy and a consensus price target of $266.67.
Check Out Our Latest Analysis on IQVIA
IQVIA Stock Performance
IQVIA (NYSE:IQV – Get Free Report) last announced its quarterly earnings data 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 company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.22 EPS. Research analysts anticipate that IQVIA will post 10.24 earnings per share for the current year.
Insider Buying and Selling at IQVIA
In other news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction 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 sale, the insider now directly owns 19,536 shares in the company, valued at approximately $4,812,302.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.
Institutional Investors Weigh In On IQVIA
A number of hedge funds have recently made changes to their positions in the business. First Foundation Advisors raised its stake in shares of IQVIA by 3.8% during the 2nd quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock worth $245,000 after purchasing an additional 43 shares during the period. Team Hewins LLC raised its stake in shares of IQVIA by 5.0% during the 1st quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock worth $246,000 after purchasing an additional 46 shares during the period. Invera Wealth Advisors LLC raised its stake in shares of IQVIA by 0.3% during the 2nd quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock worth $3,183,000 after purchasing an additional 46 shares during the period. Covestor Ltd increased its holdings 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 acquiring an additional 48 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in IQVIA by 0.3% in 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 acquiring an additional 48 shares during the last quarter. 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.
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