JPMorgan Chase & Co. Issues Pessimistic Forecast for IQVIA (NYSE:IQV) Stock Price

IQVIA (NYSE:IQV) had its price objective decreased by analysts at JPMorgan Chase & Co. from $232.00 to $177.00 in a research note issued on Monday,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 25.56% from the stock’s current price.

A number of other research analysts have also commented on IQV. HSBC lowered shares of IQVIA from a “buy” rating to a “hold” rating and dropped their price objective for the company from $260.00 to $160.00 in a research note on Friday, April 25th. Hsbc Global Res cut IQVIA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 25th. UBS Group cut their price target on shares of IQVIA from $255.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Barclays lowered their price objective on IQVIA from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Finally, Mizuho reduced their price target on IQVIA from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, IQVIA presently has an average rating of “Moderate Buy” and an average target price of $228.14.

IQVIA Stock Performance

Shares of IQV stock traded down $1.85 during mid-day trading on Monday, hitting $140.97. 675,237 shares of the stock were exchanged, compared to its average volume of 1,511,410. IQVIA has a 12-month low of $135.97 and a 12-month high of $252.88. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $24.39 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 1.99 and a beta of 1.34. The stock’s fifty day simple moving average is $159.83 and its two-hundred day simple moving average is $185.72.

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

Institutional Trading of IQVIA

A number of hedge funds and other institutional investors have recently modified their holdings of IQV. Norges Bank bought a new stake in shares of IQVIA in the fourth quarter worth $336,041,000. Raymond James Financial Inc. bought a new position in IQVIA during the 4th quarter worth approximately $236,120,000. American Century Companies Inc. raised its position in shares of IQVIA by 396.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company’s stock valued at $222,987,000 after acquiring an additional 905,960 shares in the last quarter. Invesco Ltd. increased its stake in IQVIA by 53.4% during 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. boosted its holdings in shares of IQVIA by 5,036.1% in the 1st quarter. Pacer Advisors Inc. now owns 871,704 shares of the medical research company’s stock valued at $153,681,000 after buying an additional 854,732 shares during the period. 89.62% of the stock is 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.