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

IQVIA (NYSE:IQV) had its target price cut by Evercore ISI from $275.00 to $250.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other equities analysts also recently issued reports on the company. Guggenheim lowered IQVIA from a buy rating to a neutral rating in a research note on Thursday, February 15th. SVB Leerink assumed coverage on IQVIA in a research report on Monday, February 26th. They issued an outperform rating and a $290.00 target price on the stock. Barclays raised their price target on shares of IQVIA from $260.00 to $265.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Truist Financial dropped their price objective on shares of IQVIA from $297.00 to $292.00 and set a buy rating on the stock in a report on Friday. Finally, Robert W. Baird decreased their target price on shares of IQVIA from $254.00 to $245.00 and set a neutral rating for the company in a research report on Friday. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $257.57.

IQVIA Stock Up 1.7 %

IQVIA stock opened at $227.09 on Friday. The business has a fifty day moving average price of $243.68 and a 200-day moving average price of $224.72. IQVIA has a 1-year low of $167.42 and a 1-year high of $261.73. The stock has a market capitalization of $41.38 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.16 and a beta of 1.52. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.88 and a quick ratio of 0.88.

IQVIA (NYSE:IQV) last posted its quarterly earnings data 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. The firm had revenue of $3.87 billion for 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 revenue for the quarter 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. Equities research analysts forecast that IQVIA will post 10.12 EPS for the current fiscal year.

Insider Activity

In related news, insider Eric Sherbet sold 1,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $241.50, for a total transaction of $241,500.00. Following the completion of the sale, the insider now owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Eric Sherbet sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $241.50, for a total transaction of $241,500.00. Following the transaction, the insider now owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ari Bousbib sold 31,678 shares of IQVIA stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the completion of the transaction, the insider now owns 796,752 shares of the company’s stock, valued at approximately $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 three months. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On IQVIA

Several institutional investors have recently modified their holdings of IQV. AdvisorNet Financial Inc boosted its stake in IQVIA by 327.6% during the 4th quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock worth $29,000 after purchasing an additional 95 shares during the period. Rise Advisors LLC purchased a new position in shares of IQVIA during the first quarter worth about $31,000. BKM Wealth Management LLC acquired a new position in IQVIA in the 4th quarter valued at about $32,000. Riverview Trust Co purchased a new stake in IQVIA during the 1st quarter valued at approximately $32,000. Finally, Activest Wealth Management acquired a new stake in IQVIA during the 4th quarter worth approximately $35,000. 89.62% of the stock is 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.