IQVIA (NYSE:IQV) Price Target Cut to $235.00 by Analysts at Bank of America

IQVIA (NYSE:IQV - Get Free Report) had its target price reduced by research analysts at Bank of America from $255.00 to $235.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the medical research company's stock. Bank of America's price target points to a potential upside of 18.05% from the company's current price.

Several other research firms have also weighed in on IQV. TD Cowen lowered their target price on IQVIA from $270.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. lowered their price objective on shares of IQVIA from $279.00 to $240.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. The Goldman Sachs Group cut their target price 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. Leerink Partners reiterated an "outperform" rating and issued a $248.00 price target (down from $260.00) on shares of IQVIA in a research report on Tuesday, November 19th. Finally, Evercore ISI cut their price objective on IQVIA from $270.00 to $265.00 and set an "outperform" rating for the company in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $256.19.

IQVIA Price Performance

Shares of NYSE:IQV traded down $1.31 during trading on Friday, hitting $199.06. 1,161,543 shares of the stock were exchanged, compared to its average volume of 1,186,062. The company has a market cap of $36.13 billion, a PE 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. The company has a fifty day moving average price of $212.24 and a two-hundred day moving average price of $224.23. IQVIA has a 12-month low of $187.62 and a 12-month high of $261.73.

Hedge Funds Weigh In On IQVIA

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Foundation Advisors raised its position in IQVIA by 3.8% in the second quarter. First Foundation Advisors now owns 1,161 shares of the medical research company's stock valued at $245,000 after purchasing an additional 43 shares during the period. Invera Wealth Advisors LLC lifted its position in IQVIA by 0.3% during the 2nd quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company's stock worth $3,183,000 after acquiring an additional 46 shares in the last quarter. Private Trust Co. NA boosted its holdings in IQVIA by 10.7% in the 3rd quarter. Private Trust Co. NA now owns 485 shares of the medical research company's stock worth $115,000 after acquiring an additional 47 shares during the period. Oregon Public Employees Retirement Fund grew its position in IQVIA by 0.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company's stock valued at $3,313,000 after acquiring an additional 48 shares in the last quarter. Finally, Continuum Advisory LLC raised its stake in shares of IQVIA by 3.3% during the second quarter. Continuum Advisory LLC now owns 1,538 shares of the medical research company's stock valued at $325,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds 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.