IQVIA (NYSE:IQV) Price Target Raised to $270.00 at Evercore ISI

IQVIA (NYSE:IQV) had its price target increased by Evercore ISI from $230.00 to $270.00 in a research report released on Tuesday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

A number of other research analysts have also issued reports on IQV. Barclays boosted their target price on IQVIA from $255.00 to $275.00 and gave the company an overweight rating in a report on Tuesday. The Goldman Sachs Group started coverage on IQVIA in a report on Thursday, June 6th. They set a buy rating and a $270.00 price objective on the stock. Truist Financial upped their price objective on IQVIA from $292.00 to $300.00 and gave the stock a buy rating in a report on Tuesday. Robert W. Baird upped their price objective on IQVIA from $235.00 to $251.00 and gave the stock a neutral rating in a report on Tuesday. Finally, StockNews.com raised IQVIA from a hold rating to a buy rating in a report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, IQVIA presently has an average rating of Moderate Buy and a consensus price target of $263.56.

IQVIA Price Performance

Shares of NYSE IQV opened at $239.67 on Tuesday. The stock has a market cap of $43.69 billion, a P/E ratio of 32.74, a P/E/G ratio of 2.24 and a beta of 1.49. The company has a current ratio of 0.85, a quick ratio of 0.88 and a debt-to-equity ratio of 1.80. The stock has a 50 day moving average of $220.23 and a two-hundred day moving average of $229.41. IQVIA has a twelve month low of $167.42 and a twelve month high of $261.73.

IQVIA (NYSE:IQV) last released its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.22 earnings per share. On average, research analysts forecast that IQVIA will post 10.13 earnings per share for the current year.

Institutional Trading of IQVIA

Institutional investors and hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC lifted its position in shares of IQVIA by 17.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 118,616 shares of the medical research company’s stock valued at $27,445,000 after acquiring an additional 17,677 shares in the last quarter. Jennison Associates LLC lifted its position in shares of IQVIA by 7.3% in the first quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock valued at $35,636,000 after acquiring an additional 9,578 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of IQVIA by 4.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,418,392 shares of the medical research company’s stock valued at $532,070,000 after acquiring an additional 93,194 shares in the last quarter. Cadian Capital Management LP purchased a new stake in shares of IQVIA in the fourth quarter valued at $70,108,000. Finally, Nomura Holdings Inc. purchased a new position in IQVIA during the fourth quarter worth about $857,000. 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.