JPMorgan Chase & Co. Raises IQVIA (NYSE:IQV) Price Target to $288.00

IQVIA (NYSE:IQV) had its target price raised by JPMorgan Chase & Co. from $260.00 to $288.00 in a report released on Monday, Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

Several other equities analysts have also commented on IQV. Jefferies Financial Group lowered IQVIA from a buy rating to a hold rating and lowered their target price for the company from $266.00 to $242.00 in a report on Wednesday, July 24th. Evercore ISI upped their target price on IQVIA from $230.00 to $270.00 and gave the company an outperform rating in a report on Tuesday, July 23rd. Argus upgraded IQVIA to a strong-buy rating in a research report on Wednesday, July 31st. Truist Financial boosted their price objective on IQVIA from $292.00 to $300.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley boosted their price objective on IQVIA from $270.00 to $280.00 and gave the stock an overweight rating in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, IQVIA currently has an average rating of Moderate Buy and a consensus price target of $265.67.

IQVIA Stock Down 3.2 %

NYSE:IQV opened at $229.62 on Monday. The firm has a market capitalization of $41.86 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 2.28 and a beta of 1.49. The stock has a 50 day moving average of $222.16 and a 200-day moving average of $230.92. IQVIA has a 52 week low of $167.42 and a 52 week high of $261.73. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80.

IQVIA (NYSE:IQV) last posted its earnings results on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.57 by $0.07. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.22 earnings per share. Analysts predict that IQVIA will post 10.21 EPS for the current year.

Institutional Investors Weigh In On IQVIA

A number of institutional investors have recently added to or reduced their stakes in IQV. Versant Capital Management Inc lifted its position in IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after purchasing an additional 110 shares during the period. Opal Wealth Advisors LLC acquired a new stake in IQVIA in the second quarter worth approximately $27,000. Rise Advisors LLC acquired a new stake in IQVIA in the first quarter worth approximately $31,000. Riverview Trust Co acquired a new stake in shares of IQVIA during the 1st quarter valued at $32,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of IQVIA during the 2nd quarter valued at $32,000. 89.62% of the stock is currently 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.