Robert W. Baird Lowers IQVIA (NYSE:IQV) Price Target to $245.00

IQVIA (NYSE:IQV) had its price objective cut by Robert W. Baird from $254.00 to $245.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Robert W. Baird’s price target would suggest a potential upside of 9.68% from the stock’s current price.

Several other research firms have also issued reports on IQV. BTIG Research started coverage on shares of IQVIA in a research report on Tuesday, February 13th. They set a “buy” rating and a $285.00 price target for the company. Evercore ISI upped their price target on shares of IQVIA from $255.00 to $265.00 and gave the company a “market outperform” rating in a research report on Thursday, February 15th. Guggenheim lowered shares of IQVIA from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Finally, Barclays upped their price objective on shares of IQVIA from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, IQVIA presently has an average rating of “Moderate Buy” and an average price target of $257.57.

IQVIA Stock Up 0.6 %

Shares of NYSE:IQV opened at $223.37 on Friday. IQVIA has a 52-week low of $167.42 and a 52-week high of $261.73. The firm has a fifty day moving average of $244.08 and a 200 day moving average of $224.01. The firm has a market capitalization of $40.54 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 2.16 and a beta of 1.52. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.86 and a current ratio of 0.88.

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

Insider Buying and Selling

In related news, insider Ari Bousbib sold 31,678 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other IQVIA news, insider Kevin C. Knightly sold 8,607 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total value of $2,153,213.19. Following the sale, the insider now owns 5,251 shares in the company, valued at $1,313,642.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ari Bousbib sold 31,678 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 796,752 shares in the company, valued at approximately $199,610,278.56. The disclosure for this sale can be found here. Insiders sold a total of 41,285 shares of company stock valued at $10,331,003 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On IQVIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Team Hewins LLC grew its holdings in IQVIA by 5.0% in the first quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock worth $246,000 after purchasing an additional 46 shares during the period. Jag Capital Management LLC grew its holdings in IQVIA by 0.4% in the fourth quarter. Jag Capital Management LLC now owns 11,401 shares of the medical research company’s stock worth $2,638,000 after purchasing an additional 49 shares during the period. Laurel Wealth Advisors LLC grew its holdings in IQVIA by 1.1% in the third quarter. Laurel Wealth Advisors LLC now owns 4,710 shares of the medical research company’s stock worth $927,000 after purchasing an additional 50 shares during the period. Raleigh Capital Management Inc. grew its holdings in IQVIA by 4.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,157 shares of the medical research company’s stock worth $268,000 after purchasing an additional 50 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in shares of IQVIA by 18.1% during the third quarter. Parkside Financial Bank & Trust now owns 346 shares of the medical research company’s stock valued at $68,000 after buying an additional 53 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.