IQVIA (NYSE:IQV) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of IQVIA (NYSE:IQV) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $270.00 price target on the medical research company’s stock.

A number of other equities research analysts have also issued reports on the company. Redburn Atlantic began coverage on IQVIA in a research report on Monday, October 14th. They issued a “buy” rating and a $276.00 price target on the stock. Truist Financial reduced their target price on shares of IQVIA from $286.00 to $265.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Morgan Stanley lowered their price target on shares of IQVIA from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, November 4th. The Goldman Sachs Group decreased their price objective on shares of IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. dropped their target price on IQVIA from $279.00 to $240.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $256.19.

IQVIA Stock Down 0.7 %

IQVIA stock opened at $199.06 on Wednesday. The firm has a market capitalization of $36.13 billion, a P/E ratio of 26.12, a P/E/G ratio of 2.07 and a beta of 1.49. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. IQVIA has a twelve month low of $187.62 and a twelve month high of $261.73. The stock’s fifty day simple moving average is $212.86 and its 200-day simple moving average is $224.44.

Institutional Investors Weigh In On IQVIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IQV. FMR LLC increased its holdings in shares of IQVIA by 38.7% in the 3rd quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock valued at $684,213,000 after acquiring an additional 804,963 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in IQVIA during the 3rd quarter worth $147,683,000. 1832 Asset Management L.P. increased its stake in IQVIA by 472.3% in the second quarter. 1832 Asset Management L.P. now owns 456,335 shares of the medical research company’s stock valued at $96,487,000 after purchasing an additional 376,595 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of IQVIA in the second quarter valued at about $70,610,000. Finally, Impax Asset Management Group plc grew its holdings in shares of IQVIA by 19.3% during the second quarter. Impax Asset Management Group plc now owns 1,635,201 shares of the medical research company’s stock worth $344,998,000 after buying an additional 264,555 shares during the last quarter. Hedge funds and other 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.