IQVIA (NYSE:IQV) Price Target Cut to $279.00 by Analysts at JPMorgan Chase & Co.

IQVIA (NYSE:IQV) had its target price trimmed by JPMorgan Chase & Co. from $288.00 to $279.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

Several other analysts also recently commented on the stock. Argus raised shares of IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of IQVIA from a “buy” rating to a “hold” rating in a research report on Tuesday. Redburn Atlantic began coverage on shares of IQVIA in a report on Monday, October 14th. They issued a “buy” rating and a $276.00 price objective for the company. Robert W. Baird increased their target price on IQVIA from $251.00 to $256.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, Morgan Stanley boosted their price target on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.27.

IQVIA Trading Up 0.0 %

NYSE:IQV opened at $228.31 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50-day simple moving average is $238.71 and its 200 day simple moving average is $230.92. IQVIA has a one year low of $167.42 and a one year high of $261.73. The firm has a market capitalization of $41.62 billion, a P/E ratio of 29.65, a PEG ratio of 2.26 and a beta of 1.49.

IQVIA (NYSE:IQV) last announced its quarterly earnings data 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. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the business earned $2.22 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts forecast that IQVIA will post 10.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 19,536 shares in the company, valued at $4,812,302.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Riverview Trust Co purchased a new stake in shares of IQVIA in the first quarter worth $32,000. Wealth Enhancement Advisory Services LLC increased its stake in IQVIA by 5.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,898 shares of the medical research company’s stock worth $1,492,000 after buying an additional 300 shares in the last quarter. Cypress Wealth Services LLC raised its holdings in IQVIA by 5.3% during the first quarter. Cypress Wealth Services LLC now owns 1,101 shares of the medical research company’s stock valued at $278,000 after acquiring an additional 55 shares during the period. Sendero Wealth Management LLC lifted its position in shares of IQVIA by 0.7% in the first quarter. Sendero Wealth Management LLC now owns 33,122 shares of the medical research company’s stock valued at $8,376,000 after acquiring an additional 229 shares in the last quarter. Finally, AMF Tjanstepension AB boosted its stake in shares of IQVIA by 9.4% in the first quarter. AMF Tjanstepension AB now owns 1,197,037 shares of the medical research company’s stock worth $302,719,000 after acquiring an additional 102,402 shares during the period. 89.62% of the stock is currently owned by institutional investors.

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.