IQVIA (NYSE:IQV) Given New $250.00 Price Target at Evercore ISI

IQVIA (NYSE:IQV) had its price objective cut by Evercore ISI from $275.00 to $250.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the medical research company’s stock.

IQV has been the subject of several other research reports. UBS Group upped their target price on shares of IQVIA from $240.00 to $300.00 and gave the stock a buy rating in a research report on Thursday, February 15th. BTIG Research initiated coverage on IQVIA in a research report on Tuesday, February 13th. They issued a buy rating and a $285.00 target price on the stock. Barclays increased their price target on IQVIA from $260.00 to $265.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. Robert W. Baird reduced their price objective on shares of IQVIA from $254.00 to $245.00 and set a neutral rating for the company in a report on Friday. Finally, StockNews.com upgraded shares of IQVIA from a hold rating to a buy rating in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $257.57.

IQVIA Stock Performance

Shares of NYSE IQV opened at $227.09 on Friday. The stock has a market capitalization of $41.38 billion, a P/E ratio of 31.02, a P/E/G ratio of 2.16 and a beta of 1.52. The firm’s 50-day moving average price is $243.68 and its two-hundred day moving average price is $224.72. IQVIA has a 52-week low of $167.42 and a 52-week high of $261.73. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.02.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.80 billion. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.54 EPS. As a group, sell-side analysts forecast that IQVIA will post 10.12 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Eric Sherbet sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $241.50, for a total value of $241,500.00. Following the transaction, the insider now directly owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other IQVIA news, insider Eric Sherbet sold 1,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $241.50, for a total transaction of $241,500.00. Following the completion of the transaction, the insider now owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ari Bousbib sold 31,678 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $250.53, for a total value of $7,936,289.34. Following the completion of the sale, the insider now directly owns 796,752 shares in the company, valued at approximately $199,610,278.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,285 shares of company stock worth $10,331,003. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IQV. AdvisorNet Financial Inc increased its holdings in IQVIA by 327.6% in the 4th quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock valued at $29,000 after buying an additional 95 shares during the period. Rise Advisors LLC bought a new stake in shares of IQVIA during the first quarter worth $31,000. Riverview Trust Co acquired a new stake in shares of IQVIA during the first quarter worth $32,000. BKM Wealth Management LLC acquired a new position in IQVIA in the 4th quarter worth $32,000. Finally, Activest Wealth Management bought a new position in IQVIA during the 4th quarter worth about $35,000. Institutional investors own 89.62% of the company’s stock.

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.