BTIG Research Issues Pessimistic Forecast for IQVIA (NYSE:IQV) Stock Price

IQVIA (NYSE:IQV) had its price objective cut by analysts at BTIG Research from $290.00 to $260.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. BTIG Research’s price target would suggest a potential upside of 24.31% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. UBS Group increased their price target on shares of IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on IQVIA from $270.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday. Robert W. Baird lowered their price target on IQVIA from $256.00 to $223.00 and set a “neutral” rating on the stock in a research report on Friday. Evercore ISI cut their price objective on IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group decreased their target price on IQVIA from $280.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, IQVIA has an average rating of “Moderate Buy” and a consensus price target of $261.24.

IQVIA Trading Up 1.6 %

Shares of NYSE:IQV opened at $209.16 on Friday. The company has a market capitalization of $38.13 billion, a PE ratio of 27.45, a PEG ratio of 2.01 and a beta of 1.51. IQVIA has a 12-month low of $181.03 and a 12-month high of $261.73. The business has a 50 day moving average of $234.31 and a two-hundred day moving average of $229.74. The company has a current ratio of 0.81, a quick ratio of 0.85 and a debt-to-equity ratio of 1.76.

Insider Activity at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the transaction, the insider now owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On IQVIA

A number of hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board boosted its position in shares of IQVIA by 6.6% during 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 purchasing an additional 211,653 shares during the period. Lazard Asset Management LLC boosted its position in shares of IQVIA by 0.9% during the first quarter. Lazard Asset Management LLC now owns 3,263,944 shares of the medical research company’s stock worth $825,416,000 after buying an additional 30,014 shares during the period. Farallon Capital Management LLC raised its holdings in shares of IQVIA by 3.1% in 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in IQVIA by 3.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,510,685 shares of the medical research company’s stock worth $634,927,000 after acquiring an additional 92,293 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in IQVIA by 7.2% during the 1st quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company’s stock valued at $540,882,000 after acquiring an additional 143,533 shares during the period. 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.