Truist Financial Reiterates “Buy” Rating for IQVIA (NYSE:IQV)

IQVIA (NYSE:IQV)‘s stock had its “buy” rating restated by equities research analysts at Truist Financial in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $263.00 target price on the medical research company’s stock, up from their previous target price of $261.00. Truist Financial’s price objective would suggest a potential upside of 26.36% from the stock’s previous close.

Several other analysts have also issued reports on IQV. Barclays cut their price target on shares of IQVIA from $255.00 to $235.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Morgan Stanley reduced their price target on IQVIA from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. William Blair reiterated an “outperform” rating on shares of IQVIA in a research report on Wednesday, December 11th. Stifel Nicolaus cut their target price on shares of IQVIA from $273.00 to $261.00 and set a “buy” rating on the stock in a report on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $270.00 price target on shares of IQVIA in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, IQVIA has an average rating of “Moderate Buy” and an average price target of $252.50.

IQVIA Trading Down 0.9 %

Shares of IQV stock opened at $208.13 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The firm has a market cap of $37.78 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 2.25 and a beta of 1.48. The business has a 50-day moving average price of $200.67 and a two-hundred day moving average price of $219.27. IQVIA has a 12-month low of $187.62 and a 12-month high of $261.73.

IQVIA (NYSE:IQV) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. Equities analysts anticipate that IQVIA will post 10.81 EPS for the current fiscal year.

Insider Transactions at IQVIA

In other news, Director John G. Danhakl acquired 1,275 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average cost of $200.58 per share, for a total transaction of $255,739.50. Following the acquisition, the director now directly owns 1,275 shares in the company, valued at approximately $255,739.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On IQVIA

Institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in IQVIA by 789.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 227,512 shares of the medical research company’s stock valued at $44,708,000 after acquiring an additional 201,945 shares during the period. EverSource Wealth Advisors LLC lifted its position in IQVIA by 9.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,482 shares of the medical research company’s stock valued at $291,000 after purchasing an additional 131 shares during the period. Sequoia Financial Advisors LLC grew its position in IQVIA by 13.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 85,299 shares of the medical research company’s stock worth $16,762,000 after purchasing an additional 10,245 shares during the period. PFG Advisors raised its stake in IQVIA by 45.3% during the 4th quarter. PFG Advisors now owns 6,068 shares of the medical research company’s stock valued at $1,192,000 after buying an additional 1,893 shares during the last quarter. Finally, Inspire Advisors LLC lifted its holdings in shares of IQVIA by 10.1% during the 4th quarter. Inspire Advisors LLC now owns 2,584 shares of the medical research company’s stock valued at $508,000 after buying an additional 236 shares during the period. 89.62% of the stock is owned by hedge funds and other 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.