IQVIA (NYSE:IQV) Price Target Lowered to $177.00 at JPMorgan Chase & Co.

IQVIA (NYSE:IQV) had its price target reduced by JPMorgan Chase & Co. from $232.00 to $177.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

A number of other research analysts have also commented on the stock. StockNews.com lowered shares of IQVIA from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Citigroup lowered their price objective on shares of IQVIA from $225.00 to $210.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Mizuho lowered their price objective on shares of IQVIA from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, May 15th. Morgan Stanley raised their price objective on shares of IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus lowered their price objective 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 investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $228.14.

IQVIA Stock Performance

IQV opened at $143.32 on Monday. The business’s 50 day moving average is $158.99 and its 200-day moving average is $185.26. The stock has a market cap of $24.79 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. IQVIA has a twelve month low of $135.97 and a twelve month high of $252.88.

IQVIA (NYSE:IQV) last released its quarterly earnings results on Tuesday, May 6th. The medical research company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company posted $2.54 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts predict that IQVIA will post 10.84 earnings per share for the current year.

Hedge Funds Weigh In On IQVIA

A number of hedge funds have recently bought and sold shares of the business. Bayforest Capital Ltd bought a new position in shares of IQVIA during the 1st quarter valued at approximately $203,000. SCS Capital Management LLC bought a new position in shares of IQVIA during the 1st quarter valued at approximately $480,000. Semmax Financial Advisors Inc. grew its stake in shares of IQVIA by 8.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 19,005 shares of the medical research company’s stock valued at $3,351,000 after acquiring an additional 1,518 shares during the period. Empowered Funds LLC grew its stake in shares of IQVIA by 102.1% during the 1st quarter. Empowered Funds LLC now owns 9,728 shares of the medical research company’s stock valued at $1,715,000 after acquiring an additional 4,915 shares during the period. Finally, MBB Public Markets I LLC bought a new position in shares of IQVIA during the 1st quarter valued at approximately $292,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

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.