Mizuho Has Lowered Expectations for IQVIA (NYSE:IQV) Stock Price

IQVIA (NYSE:IQV) had its price objective reduced by investment analysts at Mizuho from $210.00 to $190.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Mizuho’s price target suggests a potential upside of 33.18% from the company’s previous close.

IQV has been the subject of several other research reports. Morgan Stanley lifted their price target on IQVIA from $245.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Barclays reduced their price objective on IQVIA from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. UBS Group cut their price target on IQVIA from $255.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Hsbc Global Res downgraded shares of IQVIA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Finally, Stifel Nicolaus dropped their price target on shares of IQVIA from $273.00 to $261.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $230.76.

IQVIA Stock Performance

NYSE:IQV opened at $142.66 on Thursday. IQVIA has a twelve month low of $135.97 and a twelve month high of $252.88. 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 firm’s fifty day simple moving average is $159.83 and its 200 day simple moving average is $186.07. The stock has a market cap of $24.68 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34.

IQVIA (NYSE:IQV) last issued its quarterly earnings results on Tuesday, May 6th. The medical research company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.07. IQVIA had a return on equity of 28.81% and a net margin of 8.91%. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the firm earned $2.54 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, research analysts predict that IQVIA will post 10.84 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Howard Capital Management Inc. lifted its stake in shares of IQVIA by 4.9% in the 4th quarter. Howard Capital Management Inc. now owns 1,147 shares of the medical research company’s stock valued at $225,000 after purchasing an additional 54 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in IQVIA by 1.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,434 shares of the medical research company’s stock valued at $1,068,000 after buying an additional 56 shares during the period. Cypress Wealth Services LLC lifted its position in IQVIA by 4.8% in the fourth quarter. Cypress Wealth Services LLC now owns 1,243 shares of the medical research company’s stock valued at $244,000 after buying an additional 57 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake in IQVIA by 4.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,286 shares of the medical research company’s stock worth $253,000 after buying an additional 58 shares during the period. Finally, Continuum Advisory LLC increased its position in shares of IQVIA by 3.7% during the fourth quarter. Continuum Advisory LLC now owns 1,803 shares of the medical research company’s stock valued at $354,000 after acquiring an additional 64 shares during the last quarter. 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.