IQVIA (NYSE:IQV) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of IQVIA (NYSE:IQV) from a buy rating to a hold rating in a research report sent to investors on Sunday.

Several other research analysts have also issued reports on the company. Barclays dropped their price objective on IQVIA from $275.00 to $255.00 and set an overweight rating for the company in a research note on Friday, June 28th. Robert W. Baird lowered their target price on IQVIA from $254.00 to $245.00 and set a neutral rating for the company in a research note on Friday, May 3rd. Truist Financial lowered their target price on IQVIA from $297.00 to $292.00 and set a buy rating for the company in a research note on Friday, May 3rd. The Goldman Sachs Group began coverage on IQVIA in a research note on Thursday, June 6th. They issued a buy rating and a $270.00 target price for the company. Finally, Evercore ISI lowered their target price on IQVIA from $275.00 to $250.00 and set an outperform rating for the company in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, IQVIA has an average rating of Moderate Buy and an average price target of $255.73.

IQVIA Stock Performance

IQVIA stock opened at $211.97 on Friday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a fifty day moving average price of $219.75 and a two-hundred day moving average price of $229.10. IQVIA has a 52-week low of $167.42 and a 52-week high of $261.73. The firm has a market capitalization of $38.62 billion, a P/E ratio of 28.96, a P/E/G ratio of 1.90 and a beta of 1.49.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.11. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. As a group, analysts anticipate that IQVIA will post 10.11 EPS for the current fiscal year.

Hedge Funds Weigh In On IQVIA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of IQVIA during the 4th quarter valued at about $383,705,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of IQVIA by 339.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock valued at $478,308,000 after purchasing an additional 1,597,003 shares in the last quarter. Morningstar Investment Services LLC lifted its stake in IQVIA by 96.9% in the 4th quarter. Morningstar Investment Services LLC now owns 1,231,916 shares of the medical research company’s stock valued at $286,704,000 after acquiring an additional 606,333 shares in the last quarter. Capital Research Global Investors lifted its stake in IQVIA by 42.2% in the 4th quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock valued at $461,675,000 after acquiring an additional 592,372 shares in the last quarter. Finally, Cadian Capital Management LP bought a new stake in IQVIA in the 4th quarter valued at approximately $70,108,000. 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.