IQVIA (NYSE:IQV) Given Outperform Rating at Royal Bank of Canada

IQVIA (NYSE:IQV)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They currently have a $270.00 price objective on the medical research company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 29.60% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Truist Financial dropped their target price on shares of IQVIA from $300.00 to $286.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Morgan Stanley increased their target price on shares of IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Redburn Atlantic initiated coverage on shares of IQVIA in a research report on Monday, October 14th. They set a “buy” rating and a $276.00 price target for the company. Evercore ISI cut their target price on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, Barclays lowered their price target on shares of IQVIA from $275.00 to $260.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, IQVIA currently has an average rating of “Moderate Buy” and an average price target of $263.40.

IQVIA Price Performance

Shares of IQVIA stock traded up $2.52 during midday trading on Friday, hitting $208.34. 563,664 shares of the company traded hands, compared to its average volume of 1,081,619. IQVIA has a 12 month low of $181.03 and a 12 month 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 stock has a market cap of $37.98 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 2.11 and a beta of 1.49. The firm’s fifty day moving average price is $235.10 and its 200-day moving average price is $229.89.

Insider Transactions at IQVIA

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of IQVIA 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 transaction, the insider now owns 19,536 shares in the company, valued at $4,812,302.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IQV. First Foundation Advisors grew its holdings in IQVIA by 3.8% in the 2nd quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock valued at $245,000 after buying an additional 43 shares in the last quarter. Team Hewins LLC lifted its holdings in shares of IQVIA by 5.0% in the 1st quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock valued at $246,000 after buying an additional 46 shares during the period. Invera Wealth Advisors LLC lifted its holdings in shares of IQVIA by 0.3% in the 2nd quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock valued at $3,183,000 after buying an additional 46 shares during the period. Covestor Ltd raised its holdings in IQVIA by 45.3% during the first quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock worth $39,000 after purchasing an additional 48 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in IQVIA by 0.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock worth $3,313,000 after buying an additional 48 shares in the last quarter. 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.