IQVIA (NYSE:IQV) Shares Gap Up – Here’s Why

Shares of IQVIA Holdings Inc. (NYSE:IQV) gapped up prior to trading on Thursday . The stock had previously closed at $205.44, but opened at $218.10. IQVIA shares last traded at $215.73, with a volume of 222,162 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IQV. William Blair reissued an “outperform” rating on shares of IQVIA in a report on Wednesday, December 11th. Bank of America reduced their price target on shares of IQVIA from $255.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of IQVIA from $270.00 to $265.00 and set a “buy” rating for the company in a report on Friday, November 1st. Robert W. Baird decreased their price target on IQVIA from $212.00 to $210.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Finally, Leerink Partners reiterated an “outperform” rating and issued a $248.00 price objective (down previously from $260.00) on shares of IQVIA in a research report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, IQVIA has a consensus rating of “Moderate Buy” and a consensus price target of $254.53.

IQVIA Stock Up 3.0 %

The business’s fifty day simple moving average is $200.36 and its 200 day simple moving average is $219.87. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. The stock has a market cap of $38.40 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.15 and a beta of 1.48.

IQVIA (NYSE:IQV) last released 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 9.17% and a return on equity of 28.17%. Equities analysts forecast that IQVIA Holdings Inc. will post 10.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of IQVIA during the third quarter worth about $27,000. Park Place Capital Corp acquired a new stake in IQVIA during the 3rd quarter worth approximately $28,000. Synergy Asset Management LLC bought a new position in IQVIA in the fourth quarter valued at approximately $33,000. Avior Wealth Management LLC increased its position in shares of IQVIA by 117.6% during the third quarter. Avior Wealth Management LLC now owns 161 shares of the medical research company’s stock worth $38,000 after acquiring an additional 87 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of IQVIA by 612.5% during the third quarter. Assetmark Inc. now owns 228 shares of the medical research company’s stock worth $54,000 after acquiring an additional 196 shares during the period. 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.