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

IQVIA Holdings Inc. (NYSE:IQV) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $184.66 and last traded at $188.78, with a volume of 113001 shares trading hands. The stock had previously closed at $190.95.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IQV shares. TD Cowen reduced their price objective on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Leerink Partners reissued an “outperform” rating and set a $248.00 price objective (down previously from $260.00) on shares of IQVIA in a research note on Tuesday, November 19th. BTIG Research lowered shares of IQVIA from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $270.00 price objective on shares of IQVIA in a research note on Monday, February 10th. Finally, The Goldman Sachs Group reduced their price objective on shares of IQVIA from $280.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $251.22.

IQVIA Stock Up 1.3 %

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The company has a market capitalization of $33.26 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.99 and a beta of 1.48. The stock’s fifty day moving average price is $199.13 and its 200-day moving average price is $214.96.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $2.90 earnings per share (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%. On average, sell-side analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Insider Activity at IQVIA

In related news, Director John G. Danhakl acquired 1,275 shares of IQVIA stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $200.58 per share, with a total value of $255,739.50. Following the completion of the transaction, the director now directly owns 1,275 shares in the company, valued at $255,739.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On IQVIA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in IQVIA during the third quarter worth $27,000. Avior Wealth Management LLC boosted its position in 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 purchasing an additional 87 shares during the period. Synergy Asset Management LLC bought a new position in IQVIA during the fourth quarter worth $33,000. GKV Capital Management Co. Inc. bought a new position in IQVIA during the fourth quarter worth $39,000. Finally, Lee Danner & Bass Inc. bought a new position in IQVIA during the fourth quarter worth $44,000. 89.62% of the stock is owned by 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.