Barclays Cuts IQVIA (NYSE:IQV) Price Target to $260.00

IQVIA (NYSE:IQV) had its price objective decreased by Barclays from $275.00 to $260.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the medical research company’s stock.

Several other brokerages also recently weighed in on IQV. StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a research report on Monday. Jefferies Financial Group downgraded shares of 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 research report on Wednesday, July 24th. Redburn Atlantic started coverage on shares of IQVIA in a research report on Monday. They issued a “buy” rating and a $276.00 target price for the company. Robert W. Baird lifted their target price on shares of IQVIA from $251.00 to $256.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, Truist Financial cut their target price on shares of IQVIA from $300.00 to $286.00 and set a “buy” rating for the company in a research report on Monday. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.87.

IQVIA Price Performance

Shares of NYSE IQV opened at $233.89 on Tuesday. IQVIA has a fifty-two week low of $167.42 and a fifty-two week high of $261.73. The company has a 50 day simple moving average of $239.09 and a two-hundred day simple moving average of $231.35. The company has a market capitalization of $42.61 billion, a price-to-earnings ratio of 31.95, a P/E/G ratio of 2.18 and a beta of 1.49. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85.

IQVIA (NYSE:IQV) last announced its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. The business 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 business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.22 earnings per share. Analysts expect that IQVIA will post 10.25 EPS for the current fiscal year.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction on Tuesday, August 27th. The shares were 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 approximately $4,812,302.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in IQVIA by 733.3% in the 2nd quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in IQVIA in the 2nd quarter valued at $27,000. Park Place Capital Corp bought a new stake in IQVIA in the 3rd quarter valued at $28,000. Itau Unibanco Holding S.A. bought a new stake in IQVIA in the 2nd quarter valued at $29,000. Finally, Rise Advisors LLC bought a new stake in IQVIA in the 1st quarter valued at $31,000. Hedge funds and other 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.