UBS Group Cuts IQVIA (NYSE:IQV) Price Target to $185.00

IQVIA (NYSE:IQV) had its price objective decreased by UBS Group from $255.00 to $185.00 in a report issued on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the medical research company’s stock.

Several other research analysts have also weighed in on the company. Barclays reduced their target price on IQVIA from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday. Truist Financial decreased their price objective on IQVIA from $263.00 to $216.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Citigroup cut their price target on shares of IQVIA from $225.00 to $210.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price objective on shares of IQVIA from $240.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Finally, Morgan Stanley boosted their price objective on shares of IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.71.

IQVIA Price Performance

Shares of IQV opened at $148.90 on Wednesday. The stock has a market cap of $25.76 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34. IQVIA has a 1 year low of $135.97 and a 1 year high of $252.88. The stock’s 50-day moving average price is $163.91 and its two-hundred day moving average price is $188.53. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Tuesday, May 6th. The medical research company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.07. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.77 billion. IQVIA had a net margin of 8.91% and a return on equity of 28.81%. IQVIA’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.54 EPS. On average, equities analysts predict that IQVIA will post 10.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of IQVIA in the fourth quarter valued at about $336,041,000. Raymond James Financial Inc. bought a new position in IQVIA in the 4th quarter valued at about $236,120,000. American Century Companies Inc. boosted its holdings in shares of IQVIA by 396.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company’s stock worth $222,987,000 after acquiring an additional 905,960 shares during the period. Invesco Ltd. grew its position in shares of IQVIA by 53.4% in the fourth quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company’s stock valued at $509,012,000 after purchasing an additional 902,226 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of IQVIA by 5,036.1% during the first quarter. Pacer Advisors Inc. now owns 871,704 shares of the medical research company’s stock worth $153,681,000 after purchasing an additional 854,732 shares during the period. 89.62% of the stock is 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.