JPMorgan Chase & Co. Cuts IQVIA (NYSE:IQV) Price Target to $232.00

IQVIA (NYSE:IQV) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $240.00 to $232.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 18.42% from the stock’s previous close.

A number of other research firms have also recently weighed in on IQV. Morgan Stanley boosted their price target on IQVIA from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Stifel Nicolaus cut their target price on shares of IQVIA from $273.00 to $261.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Barclays decreased their price target on shares of IQVIA from $255.00 to $235.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Stephens began coverage on shares of IQVIA in a research note on Friday, December 20th. They issued an “overweight” rating and a $250.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on IQVIA from $270.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Four investment 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.22.

IQVIA Price Performance

IQVIA stock traded up $2.47 during trading hours on Tuesday, hitting $195.91. The stock had a trading volume of 224,751 shares, compared to its average volume of 1,360,051. The stock has a market capitalization of $35.56 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.25 and a beta of 1.48. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.81. IQVIA has a 1-year low of $187.62 and a 1-year high of $261.73. The stock’s fifty day moving average is $200.15 and its two-hundred day moving average is $217.43.

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

Insider Activity at IQVIA

In related news, Director John G. Danhakl bought 1,275 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $200.58 per share, with a total value of $255,739.50. Following the completion of the transaction, the director now directly owns 1,275 shares of the company’s stock, valued at approximately $255,739.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On IQVIA

Several hedge funds have recently modified their holdings of the stock. Creative Planning lifted its position in shares of IQVIA by 17.8% during the third quarter. Creative Planning now owns 21,013 shares of the medical research company’s stock worth $4,980,000 after purchasing an additional 3,176 shares in the last quarter. Blue Trust Inc. increased its position in IQVIA by 266.5% in the third quarter. Blue Trust Inc. now owns 1,030 shares of the medical research company’s stock worth $244,000 after buying an additional 749 shares during the period. Raleigh Capital Management Inc. boosted its stake in IQVIA by 27.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,688 shares of the medical research company’s stock valued at $400,000 after purchasing an additional 368 shares during the period. Telos Capital Management Inc. boosted its position in shares of IQVIA by 1.3% during the third quarter. Telos Capital Management Inc. now owns 38,747 shares of the medical research company’s stock worth $9,182,000 after buying an additional 514 shares during the period. Finally, Foundations Investment Advisors LLC grew its stake in shares of IQVIA by 2.4% in the third quarter. Foundations Investment Advisors LLC now owns 5,934 shares of the medical research company’s stock worth $1,406,000 after purchasing an additional 141 shares in the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

IQVIA Company Profile

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.