IQVIA (NYSE:IQV) Shares Cross Above 50 Day Moving Average – Here’s What Happened

IQVIA Holdings Inc. (NYSE:IQV) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $266.55 and traded as high as $273.46. IQVIA shares last traded at $271.4550, with a volume of 1,398,376 shares traded.

Wall Street Analysts Forecast Growth

IQV has been the subject of several analyst reports. Leerink Partners increased their target price on shares of IQVIA from $280.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. HSBC boosted their target price on shares of IQVIA from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. Jefferies Financial Group boosted their target price on IQVIA from $220.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. William Blair raised shares of IQVIA to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, Mizuho increased their target price on shares of IQVIA from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $294.21.

IQVIA Stock Up 2.5%

The company’s 50 day simple moving average is $266.55 and its 200-day simple moving average is $211.03. The firm has a market capitalization of $44.74 billion, a PE ratio of 32.98, a PEG ratio of 2.30 and a beta of 1.16. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.83 and a current ratio of 0.83.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Tuesday, October 27th. The medical research company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.08. IQVIA had a net margin of 8.05% and a return on equity of 30.02%. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period last year, the firm earned $3.00 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that IQVIA Holdings Inc. will post 11.53 EPS for the current fiscal year.

Insider Transactions at IQVIA

In related news, insider James G. Berkshire sold 2,668 shares of IQVIA stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $261.33, for a total transaction of $697,228.44. Following the sale, the insider directly owned 10,890 shares of the company’s stock, valued at approximately $2,845,883.70. The trade was a 19.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IQV. Financial Freedom LLC purchased a new position in IQVIA in the first quarter valued at about $25,000. Ascentis Independent Advisors acquired a new stake in IQVIA during the 1st quarter worth approximately $25,000. Compass Financial Management LLC acquired a new position in shares of IQVIA in the second quarter valued at approximately $27,000. Elevation Wealth Partners LLC increased its holdings in IQVIA by 218.8% in the second quarter. Elevation Wealth Partners LLC now owns 153 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 105 shares during the period. Finally, Pension & Wealth Management Advisors Inc. purchased a new stake in IQVIA in the third quarter worth $30,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

About IQVIA

IQVIA Holdings Inc provides clinical research services, healthcare data and analytics, and technology solutions to pharmaceutical, biotechnology, medical-device, and other healthcare organizations. Its services support the development and commercialization of medicines and other healthcare products.

The company’s offerings include clinical trial planning and management, real-world data and evidence, consulting, and software and technology platforms for life sciences research and commercial operations.