Truist Financial Cuts IQVIA (NYSE:IQV) Price Target to $292.00

IQVIA (NYSE:IQV) had its target price decreased by analysts at Truist Financial from $297.00 to $292.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Truist Financial’s price objective suggests a potential upside of 30.72% from the company’s current price.

A number of other research analysts have also recently commented on IQV. Robert W. Baird decreased their price target on IQVIA from $254.00 to $245.00 and set a “neutral” rating on the stock in a research note on Friday. Evercore ISI upped their price objective on IQVIA from $255.00 to $265.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 15th. BTIG Research began coverage on IQVIA in a research report on Tuesday, February 13th. They set a “buy” rating and a $285.00 price objective on the stock. UBS Group upped their price objective on IQVIA from $240.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, Barclays upped their price objective on IQVIA from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $257.57.

IQVIA Trading Up 0.6 %

IQV traded up $1.23 during trading hours on Friday, reaching $223.37. The company’s stock had a trading volume of 1,052,929 shares, compared to its average volume of 831,136. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.88 and a quick ratio of 0.86. The business’s 50-day moving average is $244.08 and its 200-day moving average is $224.01. IQVIA has a fifty-two week low of $167.42 and a fifty-two week high of $261.73. The stock has a market cap of $40.54 billion, a PE ratio of 30.52, a P/E/G ratio of 2.16 and a beta of 1.52.

IQVIA (NYSE:IQV) last released its quarterly earnings results on Wednesday, February 14th. The medical research company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.02. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.80 billion. During the same period in the prior year, the firm earned $2.54 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts predict that IQVIA will post 10.12 earnings per share for the current fiscal year.

Insider Activity at IQVIA

In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $250.53, for a total value of $7,936,289.34. Following the completion of the transaction, the insider now owns 796,752 shares in the company, valued at $199,610,278.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $250.53, for a total value of $7,936,289.34. Following the completion of the transaction, the insider now owns 796,752 shares in the company, valued at $199,610,278.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Sherbet sold 1,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $241.50, for a total transaction of $241,500.00. Following the sale, the insider now owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The disclosure for this sale can be found here. Insiders have sold 41,285 shares of company stock valued at $10,331,003 over the last quarter. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On IQVIA

Several hedge funds have recently made changes to their positions in IQV. AdvisorNet Financial Inc boosted its stake in shares of IQVIA by 327.6% during the fourth quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock worth $29,000 after buying an additional 95 shares during the period. Rise Advisors LLC acquired a new stake in IQVIA in the first quarter valued at about $31,000. BKM Wealth Management LLC acquired a new stake in IQVIA in the fourth quarter valued at about $32,000. Riverview Trust Co acquired a new stake in IQVIA in the first quarter valued at about $32,000. Finally, Activest Wealth Management acquired a new stake in IQVIA in the fourth quarter valued at about $35,000. Institutional investors and hedge funds 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.