IQVIA (NYSE:IQV) Hits New 1-Year Low on Analyst Downgrade

Shares of IQVIA Holdings Inc. (NYSE:IQV) reached a new 52-week low during mid-day trading on Wednesday after Citigroup lowered their price target on the stock from $225.00 to $210.00. Citigroup currently has a neutral rating on the stock. IQVIA traded as low as $179.28 and last traded at $183.75, with a volume of 1649439 shares traded. The stock had previously closed at $184.85.

IQV has been the subject of several other research reports. Robert W. Baird cut their target price on IQVIA from $212.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. cut their target price on IQVIA from $240.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and issued a $263.00 price objective (up from $261.00) on shares of IQVIA in a research note on Monday, February 10th. Leerink Partners reaffirmed an “outperform” rating and issued a $248.00 price objective (down from $260.00) on shares of IQVIA in a research note on Tuesday, November 19th. Finally, StockNews.com cut IQVIA from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $249.05.

Institutional Investors Weigh In On IQVIA

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of IQVIA by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 20,131,734 shares of the medical research company’s stock worth $3,956,087,000 after acquiring an additional 105,504 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of IQVIA by 20.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,282,024 shares of the medical research company’s stock worth $841,461,000 after acquiring an additional 712,958 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of IQVIA by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,175,524 shares of the medical research company’s stock worth $818,315,000 after acquiring an additional 77,981 shares in the last quarter. FMR LLC lifted its stake in 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 buying an additional 804,963 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in IQVIA by 53.4% in the 4th quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company’s stock valued at $509,012,000 after buying an additional 902,226 shares in the last quarter. Hedge funds and other institutional investors own 89.62% of the company’s stock.

IQVIA Trading Up 1.3 %

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. The business has a 50 day moving average of $198.24 and a 200-day moving average of $213.66. The stock has a market cap of $32.80 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.99 and a beta of 1.50.

IQVIA (NYSE:IQV) last posted its earnings results on Thursday, February 6th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. On average, analysts anticipate that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

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.