IQVIA (NYSE:IQV) Sees Unusually-High Trading Volume – Still a Buy?

Shares of IQVIA Holdings Inc. (NYSE:IQV) saw unusually-high trading volume on Monday . Approximately 990,554 shares were traded during trading, a decline of 13% from the previous session’s volume of 1,140,433 shares.The stock last traded at $191.39 and had previously closed at $192.68.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IQV. Redburn Atlantic assumed coverage on IQVIA in a report on Monday, October 14th. They issued a “buy” rating and a $276.00 price objective for the company. Barclays lowered their price target on IQVIA from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. BTIG Research reduced their price objective on shares of IQVIA from $290.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 1st. Robert W. Baird dropped their price target on shares of IQVIA from $256.00 to $223.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $270.00 price objective on shares of IQVIA in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $259.13.

IQVIA Stock Down 1.1 %

The business’s 50-day moving average price is $226.95 and its 200-day moving average price is $228.24. The firm has a market capitalization of $34.58 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.98 and a beta of 1.51. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.76.

Insider Buying and Selling at IQVIA

In other 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 transaction of $320,229.00. Following the completion of the sale, the insider now directly owns 19,536 shares of the company’s stock, valued at $4,812,302.88. This trade represents a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On IQVIA

A number of hedge funds have recently added to or reduced their stakes in the company. First Foundation Advisors grew its position in IQVIA by 3.8% in the second quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock worth $245,000 after acquiring an additional 43 shares in the last quarter. Invera Wealth Advisors LLC increased its position in IQVIA by 0.3% during the second quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock worth $3,183,000 after buying an additional 46 shares during the last quarter. Private Trust Co. NA raised its holdings in IQVIA by 10.7% during the third quarter. Private Trust Co. NA now owns 485 shares of the medical research company’s stock valued at $115,000 after buying an additional 47 shares in the last quarter. Covestor Ltd lifted its position in shares of IQVIA by 45.3% in the first quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock worth $39,000 after buying an additional 48 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of IQVIA by 0.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock worth $3,313,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 89.62% of the company’s stock.

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.