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

IQVIA Holdings Inc. (NYSE:IQV - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $216.04, but opened at $200.30. IQVIA shares last traded at $202.71, with a volume of 621,098 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IQV. Redburn Atlantic started coverage on shares of IQVIA in a research report on Monday, October 14th. They issued a "buy" rating and a $276.00 target price on the stock. Jefferies Financial Group lowered shares of IQVIA from a "buy" rating to a "hold" rating and cut their price target for the stock from $266.00 to $242.00 in a report on Wednesday, July 24th. Robert W. Baird lifted their price target on shares of IQVIA from $251.00 to $256.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. UBS Group lifted their price target on shares of IQVIA from $295.00 to $300.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley lifted their price target on shares of IQVIA from $270.00 to $280.00 and gave the stock an "overweight" rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $267.27.

IQVIA Stock Down 4.7 %

The firm has a market cap of $37.52 billion, a PE ratio of 26.73, a PEG ratio of 2.09 and a beta of 1.49. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. The company's 50-day simple moving average is $235.10 and its two-hundred day simple moving average is $229.89.

Insider Buying and Selling at IQVIA

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the sale, the insider now owns 19,536 shares of the company's stock, valued at $4,812,302.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IQVIA

Institutional investors and hedge funds have recently modified their holdings of the stock. First Foundation Advisors increased its stake in shares of IQVIA by 3.8% in 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 in the last quarter. Team Hewins LLC increased its stake in shares of IQVIA by 5.0% in the 1st quarter. Team Hewins LLC now owns 973 shares of the medical research company's stock worth $246,000 after acquiring an additional 46 shares in the last quarter. Invera Wealth Advisors LLC increased its stake in shares of IQVIA by 0.3% in 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. Covestor Ltd increased its stake in shares of IQVIA by 45.3% in the 1st quarter. Covestor Ltd now owns 154 shares of the medical research company's stock worth $39,000 after acquiring an additional 48 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of IQVIA by 0.3% in 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 acquiring an additional 48 shares in the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

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.