Truist Financial Reiterates Buy Rating for IQVIA (NYSE:IQV)

Truist Financial reaffirmed their buy rating on shares of IQVIA (NYSE:IQV) in a research report sent to investors on Monday,Benzinga reports. Truist Financial currently has a $263.00 price target on the medical research company’s stock, up from their previous price target of $261.00.

Several other research analysts also recently commented on IQV. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $270.00 target price on shares of IQVIA in a research note on Wednesday, December 11th. UBS Group lowered their price objective on shares of IQVIA from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, February 7th. The Goldman Sachs Group dropped their target price on shares of IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a report on Friday, November 1st. Barclays reduced their price target on IQVIA from $255.00 to $235.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, StockNews.com cut IQVIA from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, IQVIA presently has an average rating of “Moderate Buy” and a consensus price target of $251.67.

IQVIA Stock Performance

NYSE IQV opened at $197.64 on Monday. The firm has a market cap of $35.87 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 2.25 and a beta of 1.48. The company has a 50-day simple moving average of $200.77 and a two-hundred day simple moving average of $218.81. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. IQVIA has a 12-month low of $187.62 and a 12-month high of $261.73.

IQVIA (NYSE:IQV) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a return on equity of 28.81% and a net margin of 8.91%. On average, equities analysts forecast that IQVIA will post 10.81 EPS for the current year.

Insider Buying and Selling

In other IQVIA news, Director John G. Danhakl acquired 1,275 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average price of $200.58 per share, for a total transaction of $255,739.50. Following the completion of the acquisition, the director now owns 1,275 shares in the company, valued at $255,739.50. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Trading of IQVIA

A number of hedge funds have recently made changes to their positions in the stock. Private Trust Co. NA raised its stake 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 during the last quarter. Clear Harbor Asset Management LLC grew its stake in shares of IQVIA by 1.3% in the third quarter. Clear Harbor Asset Management LLC now owns 3,969 shares of the medical research company’s stock worth $941,000 after acquiring an additional 50 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in shares of IQVIA by 0.5% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,481 shares of the medical research company’s stock valued at $2,247,000 after acquiring an additional 50 shares in the last quarter. Howard Capital Management Inc. raised its position in shares of IQVIA by 4.9% in the 4th quarter. Howard Capital Management Inc. now owns 1,147 shares of the medical research company’s stock worth $225,000 after purchasing an additional 54 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its stake in IQVIA by 2.9% in the 3rd quarter. Fortitude Family Office LLC now owns 1,977 shares of the medical research company’s stock worth $468,000 after purchasing an additional 56 shares in the last quarter. 89.62% of the stock is owned by institutional investors.

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.