IQVIA (NYSE:IQV) Price Target Lowered to $261.00 at Truist Financial

IQVIA (NYSE:IQV) had its target price reduced by analysts at Truist Financial from $265.00 to $261.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Truist Financial’s price objective would indicate a potential upside of 31.12% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered their price target on IQVIA from $279.00 to $240.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Evercore ISI dropped their price target on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. TD Cowen reduced their price objective on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, November 1st. StockNews.com downgraded IQVIA from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, Barclays dropped their price target on IQVIA from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, IQVIA has a consensus rating of “Moderate Buy” and an average price target of $256.19.

IQVIA Stock Performance

Shares of IQV opened at $199.06 on Thursday. The firm has a market capitalization of $36.13 billion, a P/E ratio of 26.12, a P/E/G ratio of 2.07 and a beta of 1.49. IQVIA has a 52 week low of $187.62 and a 52 week high of $261.73. The stock has a 50 day moving average price of $212.24 and a two-hundred day moving average price of $224.23. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.81 and a current ratio of 0.81.

Institutional Trading of IQVIA

Institutional investors have recently modified their holdings of the business. Simplify Asset Management Inc. lifted its position in shares of IQVIA by 67.8% during the third quarter. Simplify Asset Management Inc. now owns 9,637 shares of the medical research company’s stock worth $2,284,000 after acquiring an additional 3,894 shares in the last quarter. Raymond James & Associates raised its stake in shares of IQVIA by 0.7% during the 2nd quarter. Raymond James & Associates now owns 800,374 shares of the medical research company’s stock valued at $169,231,000 after purchasing an additional 5,417 shares during the period. Versor Investments LP purchased a new stake in IQVIA during the 3rd quarter worth about $1,328,000. Gradient Investments LLC grew its holdings in IQVIA by 15.6% during the 2nd quarter. Gradient Investments LLC now owns 45,401 shares of the medical research company’s stock valued at $9,600,000 after buying an additional 6,134 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in IQVIA by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 263,752 shares of the medical research company’s stock valued at $62,501,000 after buying an additional 8,490 shares in the last quarter. 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.