IQVIA (NYSE:IQV) Price Target Cut to $279.00 by Analysts at JPMorgan Chase & Co.

IQVIA (NYSE:IQV) had its target price cut by analysts at JPMorgan Chase & Co. from $288.00 to $279.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 22.21% from the stock’s current price.

A number of other equities research analysts have also commented on IQV. Jefferies Financial Group lowered IQVIA from a “buy” rating to a “hold” rating and lowered their price target for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. Evercore ISI lowered their target price on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Argus upgraded shares of IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. Morgan Stanley increased their price objective on shares of IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, UBS Group boosted their target price on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $267.27.

IQVIA Stock Down 1.3 %

IQV stock opened at $228.30 on Wednesday. The stock’s 50 day simple moving average is $238.87 and its 200 day simple moving average is $230.93. IQVIA has a fifty-two week low of $167.42 and a fifty-two week high of $261.73. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $41.62 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 2.26 and a beta of 1.49.

IQVIA (NYSE:IQV) last posted its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the business earned $2.22 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts expect that IQVIA will post 10.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the transaction, the insider now owns 19,536 shares in the company, valued at $4,812,302.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its stake in IQVIA by 7.3% in the 1st quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock worth $35,636,000 after purchasing an additional 9,578 shares during the period. PGGM Investments boosted its stake in IQVIA by 55.8% in the 2nd quarter. PGGM Investments now owns 12,073 shares of the medical research company’s stock worth $2,553,000 after purchasing an additional 4,326 shares during the period. Fiduciary Alliance LLC bought a new stake in shares of IQVIA during the 1st quarter valued at about $1,864,000. SG Americas Securities LLC boosted its position in shares of IQVIA by 80.1% during the 1st quarter. SG Americas Securities LLC now owns 45,787 shares of the medical research company’s stock valued at $11,579,000 after acquiring an additional 20,369 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of IQVIA during the 1st quarter valued at about $3,365,000. Institutional investors own 89.62% of the company’s stock.

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.