IQVIA (NYSE:IQV) Reaches New 52-Week Low – Here’s What Happened

IQVIA Holdings Inc. (NYSE:IQV) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $179.12 and last traded at $180.49, with a volume of 637977 shares changing hands. The stock had previously closed at $181.39.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of IQVIA from $255.00 to $235.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on IQVIA from $240.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. UBS Group cut their price target on shares of IQVIA from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Morgan Stanley lifted their price objective on shares of IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Robert W. Baird reduced their target price on shares of IQVIA from $212.00 to $210.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $249.05.

IQVIA Stock Down 1.2 %

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. The firm has a 50 day simple moving average of $193.55 and a two-hundred day simple moving average of $206.91. The company has a market capitalization of $31.25 billion, a PE ratio of 23.64, a P/E/G ratio of 1.99 and a beta of 1.50.

IQVIA (NYSE:IQV) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. Research analysts expect that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Smith Group Asset Management LLC purchased a new stake in shares of IQVIA in the fourth quarter valued at about $1,616,000. Nordea Investment Management AB raised its stake in IQVIA by 47.4% in the 4th quarter. Nordea Investment Management AB now owns 1,405,281 shares of the medical research company’s stock valued at $277,908,000 after purchasing an additional 452,029 shares during the last quarter. Hickory Asset Management Inc. purchased a new stake in shares of IQVIA during the fourth quarter worth about $941,000. Fifth Third Bancorp boosted its position in IQVIA by 13.0% during the fourth quarter. Fifth Third Bancorp now owns 13,179 shares of the medical research company’s stock worth $2,590,000 after acquiring an additional 1,521 shares during the last quarter. Finally, Graphene Investments SAS grew its position in shares of IQVIA by 22.0% in the fourth quarter. Graphene Investments SAS now owns 15,000 shares of the medical research company’s stock valued at $2,948,000 after purchasing an additional 2,700 shares during the period. Institutional investors and hedge funds 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.