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

Royal Bank of Canada reissued their outperform rating on shares of IQVIA (NYSE:IQV) in a research note published on Monday,Benzinga reports. The brokerage currently has a $270.00 target price on the medical research company’s stock.

Other analysts also recently issued reports about the company. BTIG Research downgraded IQVIA from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Truist Financial reissued a “buy” rating and issued a $263.00 price target (up from $261.00) on shares of IQVIA in a research note on Monday. StockNews.com cut shares of IQVIA from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. TD Cowen cut their target price on IQVIA from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, The Goldman Sachs Group lowered their price target on IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $251.67.

IQVIA Stock Performance

NYSE:IQV opened at $197.64 on Monday. The company’s 50-day moving average is $200.77 and its two-hundred day moving average is $218.81. IQVIA has a 1-year low of $187.62 and a 1-year high of $261.73. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.81. The firm has a market capitalization of $35.87 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 2.25 and a beta of 1.48.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. Analysts forecast that IQVIA will post 10.81 EPS for the current year.

Insiders Place Their Bets

In other news, Director John G. Danhakl acquired 1,275 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average cost of $200.58 per share, with a total value of $255,739.50. Following the transaction, the director now owns 1,275 shares in the company, valued at approximately $255,739.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of IQVIA

A number of hedge funds and other institutional investors have recently bought and sold shares of IQV. Vanguard Group Inc. increased its stake in IQVIA by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 20,131,734 shares of the medical research company’s stock valued at $3,956,087,000 after purchasing an additional 105,504 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of IQVIA by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,175,524 shares of the medical research company’s stock valued at $818,315,000 after buying an additional 77,981 shares in the last quarter. FMR LLC grew its position in shares of IQVIA by 38.7% in the 3rd quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock valued at $684,213,000 after buying an additional 804,963 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in IQVIA by 2.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438,726 shares of the medical research company’s stock worth $481,380,000 after acquiring an additional 59,426 shares in the last quarter. Finally, Cantillon Capital Management LLC lifted its position in IQVIA by 12.3% in the fourth quarter. Cantillon Capital Management LLC now owns 2,066,144 shares of the medical research company’s stock valued at $406,018,000 after acquiring an additional 226,017 shares during the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.

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.