Bank of America Cuts IQVIA (NYSE:IQV) Price Target to $235.00

IQVIA (NYSE:IQV) had its price objective dropped by stock analysts at Bank of America from $255.00 to $235.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Bank of America‘s target price would suggest a potential upside of 18.05% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. TD Cowen cut their price target on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $270.00 target price on shares of IQVIA in a report on Wednesday. Barclays dropped their price target on IQVIA from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Redburn Atlantic initiated coverage on IQVIA in a research note on Monday, October 14th. They issued a “buy” rating and a $276.00 price objective for the company. Finally, Leerink Partners reiterated an “outperform” rating and set a $248.00 target price (down from $260.00) on shares of IQVIA in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $256.19.

IQVIA Price Performance

Shares of NYSE:IQV opened at $199.06 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. The stock has a market cap of $36.13 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 2.07 and a beta of 1.49. The stock’s fifty day simple moving average is $212.24 and its two-hundred day simple moving average is $224.21. IQVIA has a 1-year low of $187.62 and a 1-year high of $261.73.

Institutional Investors Weigh In On IQVIA

Several institutional investors have recently made changes to their positions in IQV. Simplify Asset Management Inc. lifted its holdings in IQVIA by 67.8% during the 3rd quarter. Simplify Asset Management Inc. now owns 9,637 shares of the medical research company’s stock worth $2,284,000 after purchasing an additional 3,894 shares in the last quarter. Raymond James & Associates boosted its position in shares of IQVIA by 0.7% in the second quarter. Raymond James & Associates now owns 800,374 shares of the medical research company’s stock valued at $169,231,000 after acquiring an additional 5,417 shares during the period. Versor Investments LP purchased a new position in IQVIA during the third quarter valued at approximately $1,328,000. Gradient Investments LLC increased its holdings in IQVIA by 15.6% during the 2nd quarter. Gradient Investments LLC now owns 45,401 shares of the medical research company’s stock worth $9,600,000 after acquiring an additional 6,134 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in IQVIA by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 263,752 shares of the medical research company’s stock worth $62,501,000 after purchasing an additional 8,490 shares in the last quarter. Hedge funds and other 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.