IQVIA (NYSE:IQV) Shares Gap Down – Here’s What Happened

IQVIA Holdings Inc. (NYSE:IQV)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $216.04, but opened at $200.30. IQVIA shares last traded at $202.71, with a volume of 621,098 shares.

Analyst Ratings Changes

Several equities analysts recently commented on IQV shares. StockNews.com upgraded shares of IQVIA from a “hold” rating to a “buy” rating in a research note on Wednesday. BTIG Research reduced their target price on shares of IQVIA from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Friday. Jefferies Financial Group lowered IQVIA from a “buy” rating to a “hold” rating and lowered their price target for the company from $266.00 to $242.00 in a research note on Wednesday, July 24th. Truist Financial decreased their price objective on IQVIA from $300.00 to $286.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, UBS Group upped their target price on IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.24.

IQVIA Stock Up 1.6 %

The firm has a fifty day moving average price of $234.31 and a 200 day moving average price of $229.74. The firm has a market capitalization of $38.13 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 2.11 and a beta of 1.49. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80.

Insider Transactions at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the transaction, the insider now directly owns 19,536 shares of the company’s stock, valued at $4,812,302.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. 1832 Asset Management L.P. lifted its stake in shares of IQVIA by 472.3% during the second quarter. 1832 Asset Management L.P. now owns 456,335 shares of the medical research company’s stock valued at $96,487,000 after acquiring an additional 376,595 shares during the period. Renaissance Technologies LLC acquired a new position in IQVIA during the 2nd quarter valued at about $70,610,000. Impax Asset Management Group plc boosted its stake in shares of IQVIA by 19.3% in the 2nd quarter. Impax Asset Management Group plc now owns 1,635,201 shares of the medical research company’s stock valued at $344,998,000 after purchasing an additional 264,555 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of IQVIA by 6.6% during the second quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock worth $719,634,000 after buying an additional 211,653 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in IQVIA by 285.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 268,552 shares of the medical research company’s stock valued at $56,783,000 after buying an additional 198,808 shares during the period. 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.