Barclays Issues Pessimistic Forecast for IQVIA (NYSE:IQV) Stock Price

IQVIA (NYSE:IQV) had its target price trimmed by Barclays from $260.00 to $255.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

A number of other analysts also recently issued reports on the stock. Morgan Stanley lifted their price target on shares of IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. TD Cowen dropped their price objective on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday. Truist Financial lowered their price target on shares of IQVIA from $300.00 to $286.00 and set a “buy” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on IQVIA from $270.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Robert W. Baird decreased their price target on IQVIA from $256.00 to $223.00 and set a “neutral” rating on the stock in a report on Friday. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $263.81.

IQVIA Stock Performance

Shares of IQV opened at $209.16 on Friday. The business has a 50-day simple moving average of $234.31 and a two-hundred day simple moving average of $229.76. The stock has a market cap of $38.13 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 2.01 and a beta of 1.51. IQVIA has a 52 week low of $181.03 and a 52 week high of $261.73. The company has a quick ratio of 0.85, a current ratio of 0.81 and a debt-to-equity ratio of 1.76.

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the transaction, the insider now directly owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IQVIA

Institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its stake in IQVIA by 6.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock worth $719,634,000 after acquiring an additional 211,653 shares during the period. Lazard Asset Management LLC lifted its position in shares of IQVIA by 0.9% in the 1st quarter. Lazard Asset Management LLC now owns 3,263,944 shares of the medical research company’s stock worth $825,416,000 after purchasing an additional 30,014 shares during the period. Farallon Capital Management LLC lifted its position in shares of IQVIA by 3.1% in the 2nd quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock worth $618,046,000 after purchasing an additional 86,870 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in IQVIA by 3.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,510,685 shares of the medical research company’s stock valued at $634,927,000 after buying an additional 92,293 shares during the period. Finally, Capital Research Global Investors increased its holdings in IQVIA by 7.2% during the first quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company’s stock valued at $540,882,000 after buying an additional 143,533 shares during the period. 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.