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

IQVIA Holdings Inc. (NYSE:IQV)’s share price hit a new 52-week low during mid-day trading on Thursday . The company 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 Analyst Weigh In

IQV has been the subject of a number of recent research reports. Truist Financial reissued a “buy” rating and issued a $263.00 target price (up previously from $261.00) on shares of IQVIA in a research report on Monday, February 10th. Morgan Stanley boosted their target price on shares of IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Stifel Nicolaus dropped their price target on IQVIA from $273.00 to $261.00 and set a “buy” rating for the company in a research note on Friday, February 7th. William Blair reaffirmed an “outperform” rating on shares of IQVIA in a research note on Wednesday, December 11th. Finally, Bank of America dropped their price target on IQVIA from $255.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, IQVIA currently has an average rating of “Moderate Buy” and a consensus target price of $251.22.

IQVIA Stock Performance

The company has a 50 day simple moving average of $199.13 and a 200 day simple moving average of $214.96. 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 stock has a market cap 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.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. As a group, equities research analysts forecast that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

Insider Activity

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

Institutional Trading of IQVIA

Institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in IQVIA in the third quarter valued at approximately $27,000. Avior Wealth Management LLC boosted its holdings in IQVIA by 117.6% in the third quarter. Avior Wealth Management LLC now owns 161 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 87 shares during the last quarter. Synergy Asset Management LLC bought a new position in shares of IQVIA during the 4th quarter worth approximately $33,000. GKV Capital Management Co. Inc. bought a new position in shares of IQVIA during the 4th quarter worth approximately $39,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of IQVIA during the 4th quarter worth approximately $44,000. 89.62% of the stock is currently 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.