IQVIA (NYSE:IQV) Price Target Lowered to $250.00 at Evercore ISI

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

Several other equities research analysts have also recently commented on IQV. Leerink Partnrs reissued an outperform rating on shares of IQVIA in a report on Monday, February 26th. BTIG Research initiated coverage on IQVIA in a report on Tuesday, February 13th. They issued a buy rating and a $285.00 price objective for the company. Barclays raised their target price on IQVIA from $260.00 to $265.00 and gave the company an overweight rating in a research note on Thursday, February 15th. SVB Leerink assumed coverage on shares of IQVIA in a report on Monday, February 26th. They issued an outperform rating and a $290.00 price target for the company. Finally, StockNews.com raised shares of IQVIA from a hold rating to a buy rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $257.57.

IQVIA Stock Performance

IQV stock traded up $1.23 during trading on Friday, reaching $223.37. 1,052,929 shares of the company’s stock were exchanged, compared to its average volume of 831,136. IQVIA has a 1-year low of $167.42 and a 1-year high of $261.73. The firm has a market cap of $40.54 billion, a PE ratio of 30.52, a P/E/G ratio of 2.15 and a beta of 1.52. The company’s fifty day moving average price is $244.56 and its 200-day moving average price is $223.84. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 2.02.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.02. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.80 billion. IQVIA had a net margin of 9.01% and a return on equity of 29.17%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.54 earnings per share. On average, research analysts expect that IQVIA will post 10.12 EPS for the current fiscal year.

Insider Activity

In other news, insider Ari Bousbib sold 31,678 shares of IQVIA stock in a transaction on Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the transaction, the insider now owns 796,752 shares in the company, valued at $199,610,278.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other IQVIA news, insider Kevin C. Knightly sold 8,607 shares of IQVIA stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the completion of the sale, the insider now owns 5,251 shares of the company’s stock, valued at approximately $1,313,642.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ari Bousbib sold 31,678 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $250.53, for a total value of $7,936,289.34. Following the sale, the insider now owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The disclosure for this sale can be found here. Insiders sold 41,285 shares of company stock worth $10,331,003 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC lifted its holdings in shares of IQVIA by 2.9% during the 3rd quarter. Lazard Asset Management LLC now owns 2,889,263 shares of the medical research company’s stock valued at $568,460,000 after buying an additional 80,189 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in IQVIA by 4.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,418,392 shares of the medical research company’s stock valued at $532,070,000 after acquiring an additional 93,194 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in IQVIA by 3.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,325,198 shares of the medical research company’s stock valued at $457,483,000 after acquiring an additional 77,422 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in IQVIA by 339.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock worth $478,308,000 after acquiring an additional 1,597,003 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of IQVIA by 42.2% during the 4th quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock worth $461,675,000 after purchasing an additional 592,372 shares during the last quarter. 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.