Evercore ISI Trims IQVIA (NYSE:IQV) Target Price to $250.00

IQVIA (NYSE:IQV) had its price objective cut by Evercore ISI from $275.00 to $250.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

IQV has been the topic of a number of other reports. UBS Group boosted their target price on shares of IQVIA from $240.00 to $300.00 and gave the stock a buy rating in a report on Thursday, February 15th. Robert W. Baird reduced their price objective on IQVIA from $254.00 to $245.00 and set a neutral rating on the stock in a research note on Friday. Truist Financial dropped their target price on IQVIA from $297.00 to $292.00 and set a buy rating for the company in a report on Friday. Barclays increased their price target on IQVIA from $260.00 to $265.00 and gave the company an overweight rating in a report on Thursday, February 15th. Finally, Leerink Partnrs restated an outperform rating on shares of IQVIA in a research report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $257.57.

IQVIA Price Performance

Shares of NYSE:IQV traded up $2.81 during mid-day trading on Friday, reaching $226.18. The stock had a trading volume of 433,846 shares, compared to its average volume of 967,171. The company has a market cap of $41.21 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 2.16 and a beta of 1.52. The business’s 50 day moving average price is $244.08 and its 200 day moving average price is $224.43. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02. IQVIA has a 1 year low of $167.42 and a 1 year high of $261.73.

IQVIA (NYSE:IQV) last posted its earnings results on Wednesday, February 14th. The medical research company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same period in the prior year, the company earned $2.54 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Research analysts expect that IQVIA will post 10.12 EPS for the current fiscal year.

Insider Activity at IQVIA

In other news, insider Eric Sherbet sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $241.50, for a total transaction of $241,500.00. Following the transaction, the insider now directly owns 20,836 shares of the company’s stock, valued at $5,031,894. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $250.53, for a total value of $7,936,289.34. Following the completion of the sale, the insider now directly owns 796,752 shares in the company, valued at approximately $199,610,278.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Sherbet sold 1,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $241.50, for a total value of $241,500.00. Following the transaction, the insider now owns 20,836 shares in the company, valued at approximately $5,031,894. The disclosure for this sale can be found here. Insiders sold 41,285 shares of company stock worth $10,331,003 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of IQVIA

A number of hedge funds have recently added to or reduced their stakes in IQV. AdvisorNet Financial Inc lifted its position in shares of IQVIA by 327.6% in the 4th quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock worth $29,000 after purchasing an additional 95 shares during the period. Rise Advisors LLC bought a new position in IQVIA in the first quarter worth approximately $31,000. BKM Wealth Management LLC purchased a new stake in IQVIA during the fourth quarter worth $32,000. Riverview Trust Co bought a new stake in IQVIA during the 1st quarter valued at $32,000. Finally, Activest Wealth Management purchased a new position in shares of IQVIA in the 4th quarter valued at $35,000. 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.