IQVIA (NYSE:IQV) Given New $300.00 Price Target at UBS Group

IQVIA (NYSE:IQV) had its target price increased by UBS Group from $295.00 to $300.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other research firms have also issued reports on IQV. The Goldman Sachs Group assumed coverage on shares of IQVIA in a research report on Thursday, June 6th. They set a buy rating and a $270.00 price target for the company. StockNews.com raised shares of IQVIA from a hold rating to a buy rating in a research note on Monday, July 15th. Evercore ISI upped their price objective on shares of IQVIA from $230.00 to $270.00 and gave the stock an outperform rating in a report on Tuesday. Barclays upped their price objective on shares of IQVIA from $255.00 to $275.00 and gave the stock an overweight rating in a report on Tuesday. Finally, Truist Financial increased their price target on shares of IQVIA from $292.00 to $300.00 and gave the company a buy rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $263.56.

IQVIA Stock Performance

Shares of NYSE:IQV traded down $0.22 during mid-day trading on Tuesday, reaching $238.57. The company had a trading volume of 793,707 shares, compared to its average volume of 1,080,356. The company has a current ratio of 0.85, a quick ratio of 0.88 and a debt-to-equity ratio of 1.80. The firm has a market cap of $43.47 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 2.25 and a beta of 1.49. The company’s 50-day moving average price is $220.01 and its 200-day moving average price is $229.21. IQVIA has a one year low of $167.42 and a one year high of $261.73.

IQVIA (NYSE:IQV) last issued its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.22 EPS. As a group, equities research analysts anticipate that IQVIA will post 10.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC grew its position in IQVIA by 17.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 118,616 shares of the medical research company’s stock valued at $27,445,000 after buying an additional 17,677 shares during the period. Jennison Associates LLC raised its stake in IQVIA by 7.3% during the first quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock worth $35,636,000 after purchasing an additional 9,578 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in IQVIA by 4.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,418,392 shares of the medical research company’s stock worth $532,070,000 after purchasing an additional 93,194 shares during the period. Cadian Capital Management LP acquired a new stake in shares of IQVIA during the fourth quarter valued at about $70,108,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of IQVIA during the fourth quarter valued at about $857,000. 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.