IQVIA (NYSE:IQV) Earns “Outperform” Rating from Royal Bank of Canada

IQVIA (NYSE:IQV)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $270.00 price objective on the medical research company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 34.75% from the company’s previous close.

IQV has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of IQVIA from $270.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, November 1st. The Goldman Sachs Group lowered their price target on shares of IQVIA from $280.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Leerink Partners reaffirmed an “outperform” rating and set a $248.00 price target (down previously from $260.00) on shares of IQVIA in a research report on Tuesday, November 19th. Morgan Stanley decreased their price objective on IQVIA from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Evercore ISI cut their target price on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.60.

IQVIA Price Performance

IQVIA stock opened at $200.37 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.76. The stock has a market cap of $36.37 billion, a P/E ratio of 26.29, a P/E/G ratio of 2.08 and a beta of 1.49. The company’s 50 day moving average price is $213.40 and its two-hundred day moving average price is $224.61. IQVIA has a 52 week low of $187.62 and a 52 week high of $261.73.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board grew its stake in shares of IQVIA by 6.6% during the second quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock valued at $719,634,000 after buying an additional 211,653 shares during the last quarter. Farallon Capital Management LLC boosted its stake in shares of IQVIA by 3.1% during the second quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock valued at $618,046,000 after purchasing an additional 86,870 shares during the period. FMR LLC grew its holdings in shares of IQVIA by 38.7% in the third quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock worth $684,213,000 after purchasing an additional 804,963 shares during the last quarter. Impax Asset Management Group plc boosted its position in IQVIA by 9.7% during the 3rd quarter. Impax Asset Management Group plc now owns 1,793,010 shares of the medical research company’s stock valued at $423,885,000 after buying an additional 157,809 shares during the period. Finally, Legal & General Group Plc grew its holdings in IQVIA by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 1,514,237 shares of the medical research company’s stock worth $320,170,000 after acquiring an additional 11,715 shares during the last quarter. 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.