Iqvia (IQV) Price Target Raised to $137.00 at Royal Bank of Canada
Iqvia (NYSE:IQV) had its price target hoisted by analysts at Royal Bank of Canada to $137.00 in a report issued on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the medical research company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 13.95% from the stock’s previous close.
A number of other analysts have also recently commented on IQV. ValuEngine upgraded shares of Iqvia from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Zacks Investment Research upgraded shares of Iqvia from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research note on Wednesday, July 4th. SunTrust Banks increased their price target on shares of Iqvia to $140.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Stifel Nicolaus increased their price target on shares of Iqvia from $128.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Finally, Bank of America upgraded shares of Iqvia from a “neutral” rating to a “buy” rating and set a $135.00 price target for the company in a research note on Wednesday, July 25th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Iqvia presently has an average rating of “Buy” and a consensus price target of $131.32.
Iqvia stock traded down $6.22 during mid-day trading on Tuesday, reaching $120.23. The company’s stock had a trading volume of 107,290 shares, compared to its average volume of 1,028,486. The company has a market cap of $25.71 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.82 and a beta of 0.70. Iqvia has a 12 month low of $91.57 and a 12 month high of $135.48. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.40.
In other news, Director Ronald A. Rittenmeyer sold 7,680 shares of the firm’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $122.41, for a total transaction of $940,108.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John G. Danhakl sold 370,470 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $124.83, for a total transaction of $46,245,770.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 978,777 shares of company stock valued at $121,566,089. 6.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of IQV. First Trust Advisors LP acquired a new stake in Iqvia in the 2nd quarter worth about $99,127,000. Laurion Capital Management LP raised its stake in Iqvia by 188.1% in the 2nd quarter. Laurion Capital Management LP now owns 378,318 shares of the medical research company’s stock worth $37,764,000 after purchasing an additional 807,697 shares in the last quarter. BlackRock Inc. raised its stake in Iqvia by 5.7% in the 2nd quarter. BlackRock Inc. now owns 10,170,048 shares of the medical research company’s stock worth $1,015,173,000 after purchasing an additional 546,878 shares in the last quarter. Atalanta Sosnoff Capital LLC acquired a new stake in Iqvia in the 3rd quarter worth about $51,970,000. Finally, Retirement Systems of Alabama raised its stake in Iqvia by 374.0% in the 2nd quarter. Retirement Systems of Alabama now owns 330,106 shares of the medical research company’s stock worth $32,951,000 after purchasing an additional 260,467 shares in the last quarter. Institutional investors and hedge funds own 90.70% of the company’s stock.
IQVIA Holdings Inc provides integrated information and technology-enabled healthcare services in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Commercial Solutions, Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offers a range of cloud-based applications and related implementation, real-world insights, and reference information services; and strategic and implementation consulting services, such as advanced analytics and commercial processes outsourcing services.
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