StockNews.com Upgrades IQVIA (NYSE:IQV) to “Buy”

IQVIA (NYSE:IQV) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other analysts have also issued reports on the stock. Robert W. Baird dropped their target price on shares of IQVIA from $241.00 to $235.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI cut their price objective on IQVIA from $250.00 to $230.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Truist Financial lowered their price target on IQVIA from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Barclays reduced 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. Finally, The Goldman Sachs Group started coverage on shares of IQVIA in a research note on Thursday, June 6th. They set a “buy” rating and a $270.00 target price on the stock. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.73.

IQVIA Stock Performance

Shares of IQV stock opened at $232.95 on Monday. IQVIA has a 52-week low of $167.42 and a 52-week high of $261.73. The stock has a market cap of $42.44 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.04 and a beta of 1.49. The business has a 50-day simple moving average of $219.77 and a 200-day simple moving average of $228.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.02.

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

Institutional Trading of IQVIA

Institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc grew its holdings in IQVIA by 733.3% during the 2nd quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in IQVIA during the second quarter valued at $27,000. AdvisorNet Financial Inc raised its holdings 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 acquiring an additional 95 shares in the last quarter. Rise Advisors LLC acquired a new stake in IQVIA in the first quarter valued at approximately $31,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of IQVIA in the fourth quarter worth about $32,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

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.