Bank of America Cuts IQVIA (NYSE:IQV) Price Target to $235.00

IQVIA (NYSE:IQV) had its price objective trimmed by Bank of America from $255.00 to $235.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

Other analysts also recently issued reports about the stock. TD Cowen dropped their target price on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, November 1st. William Blair reaffirmed an “outperform” rating on shares of IQVIA in a research report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $270.00 target price on shares of IQVIA in a report on Wednesday, December 11th. Morgan Stanley cut their price target on IQVIA from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Evercore ISI decreased their price objective on IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.19.

IQVIA Stock Down 0.7 %

Shares of IQVIA stock opened at $199.06 on Friday. The company has a market capitalization of $36.13 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.49. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $212.24 and a two-hundred day moving average of $224.20. IQVIA has a 1 year low of $187.62 and a 1 year high of $261.73.

Hedge Funds Weigh In On IQVIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Foundation Advisors boosted its stake in shares of IQVIA by 3.8% during the 2nd 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 during the period. Invera Wealth Advisors LLC increased its holdings in shares of IQVIA by 0.3% in the second quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock valued at $3,183,000 after purchasing an additional 46 shares during the last quarter. Private Trust Co. NA raised its position in shares of IQVIA by 10.7% in the third quarter. Private Trust Co. NA now owns 485 shares of the medical research company’s stock valued at $115,000 after purchasing an additional 47 shares during the period. Oregon Public Employees Retirement Fund lifted 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 buying an additional 48 shares during the last quarter. Finally, Continuum Advisory LLC raised its holdings in IQVIA by 3.3% in the 2nd quarter. Continuum Advisory LLC now owns 1,538 shares of the medical research company’s stock valued at $325,000 after acquiring an additional 49 shares during the period. Institutional investors 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.