IQVIA (NYSE:IQV) Shares Gap Down - Here's What Happened

IQVIA Holdings Inc. (NYSE:IQV - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $204.64, but opened at $198.98. IQVIA shares last traded at $199.37, with a volume of 273,028 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IQV shares. Redburn Atlantic initiated coverage on IQVIA in a report on Monday, October 14th. They set a "buy" rating and a $276.00 price target on the stock. StockNews.com cut shares of IQVIA from a "buy" rating to a "hold" rating in a research note on Thursday, November 28th. Morgan Stanley decreased their price objective 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. JPMorgan Chase & Co. dropped their target price on shares of IQVIA from $279.00 to $240.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Finally, Stephens assumed coverage on shares of IQVIA in a research report on Friday, December 20th. They issued an "overweight" rating and a $250.00 target price for the company. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, IQVIA has an average rating of "Moderate Buy" and a consensus price target of $255.82.

IQVIA Stock Down 3.2 %

The stock has a market cap of $35.96 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 2.05 and a beta of 1.48. 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 fifty day moving average of $201.73 and a 200-day moving average of $221.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its position in IQVIA by 6.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company's stock valued at $719,634,000 after acquiring an additional 211,653 shares in the last quarter. Farallon Capital Management LLC increased its holdings in shares of IQVIA by 3.1% during the second quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company's stock valued at $618,046,000 after acquiring an additional 86,870 shares in the last quarter. FMR LLC boosted 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 worth $684,213,000 after purchasing an additional 804,963 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in IQVIA by 46.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,845,711 shares of the medical research company's stock worth $437,378,000 after purchasing an additional 583,396 shares in the last quarter. Finally, Impax Asset Management Group plc increased its stake in IQVIA by 9.7% during the 3rd quarter. Impax Asset Management Group plc now owns 1,793,010 shares of the medical research company's stock valued at $423,885,000 after purchasing an additional 157,809 shares in the last quarter. 89.62% of the stock is currently owned by institutional investors.

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.