Royal Bank of Canada Reiterates Outperform Rating for IQVIA (NYSE:IQV)

Royal Bank of Canada restated their outperform rating on shares of IQVIA (NYSE:IQV) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $270.00 target price on the medical research company’s stock.

A number of other brokerages have also recently commented on IQV. Truist Financial dropped their target price on IQVIA from $286.00 to $265.00 and set a “buy” rating for the company in a report on Monday, November 4th. Redburn Atlantic started coverage on IQVIA in a report on Monday, October 14th. They set a “buy” rating and a $276.00 price objective for the company. Morgan Stanley dropped their price objective on IQVIA from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, November 4th. TD Cowen dropped their price objective on IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Robert W. Baird dropped their price objective on IQVIA from $256.00 to $223.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.50.

IQVIA Price Performance

Shares of IQVIA stock opened at $203.17 on Wednesday. The stock has a market cap of $36.88 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 2.08 and a beta of 1.49. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average price of $216.54 and a 200-day moving average price of $225.51. IQVIA has a one year low of $187.62 and a one year high of $261.73.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its position in shares of IQVIA by 6.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock worth $719,634,000 after acquiring an additional 211,653 shares in the last quarter. Farallon Capital Management LLC increased its position in IQVIA by 3.1% during the 2nd quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock valued at $618,046,000 after buying an additional 86,870 shares in the last quarter. FMR LLC increased its position in IQVIA by 38.7% during the 3rd quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock valued at $684,213,000 after buying an additional 804,963 shares in the last quarter. Impax Asset Management Group plc increased its position in IQVIA by 9.7% during the 3rd quarter. Impax Asset Management Group plc now owns 1,793,010 shares of the medical research company’s stock valued at $423,885,000 after buying an additional 157,809 shares in the last quarter. Finally, Legal & General Group Plc increased its position in IQVIA by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 1,514,237 shares of the medical research company’s stock valued at $320,170,000 after buying an additional 11,715 shares in the last quarter. 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.