JPMorgan Chase & Co. Has Lowered Expectations for IQVIA (NYSE:IQV) Stock Price

IQVIA (NYSE:IQV - Get Free Report) had its target price cut by analysts at JPMorgan Chase & Co. from $279.00 to $240.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the medical research company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 12.74% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada reiterated an "outperform" rating and set a $270.00 price target on shares of IQVIA in a research report on Friday. StockNews.com raised IQVIA from a "hold" rating to a "buy" rating in a report on Wednesday, October 30th. Redburn Atlantic began coverage on IQVIA in a research report on Monday, October 14th. They issued a "buy" rating and a $276.00 price objective for the company. Argus upgraded IQVIA to a "strong-buy" rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on IQVIA from $270.00 to $265.00 and set a "buy" rating for the company in a report on Friday. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned 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 $259.13.

IQVIA Stock Up 1.3 %

NYSE IQV traded up $2.68 on Tuesday, hitting $212.87. The stock had a trading volume of 1,125,580 shares, compared to its average volume of 1,092,316. The business's fifty day moving average price is $233.55 and its 200 day moving average price is $229.64. IQVIA has a 52-week low of $190.20 and a 52-week high of $261.73. The stock has a market cap of $38.64 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 2.07 and a beta of 1.51. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81.

Insider Buying and Selling at IQVIA

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the company's stock in a transaction dated 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 directly owns 19,536 shares in the company, valued at $4,812,302.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IQVIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IQV. Canada Pension Plan Investment Board boosted its stake in IQVIA by 6.6% during the second quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company's stock worth $719,634,000 after acquiring an additional 211,653 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of IQVIA by 0.9% in the 1st quarter. Lazard Asset Management LLC now owns 3,263,944 shares of the medical research company's stock worth $825,416,000 after acquiring an additional 30,014 shares during the last quarter. Farallon Capital Management LLC increased its stake in shares of IQVIA by 3.1% in the second quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company's stock worth $618,046,000 after buying an additional 86,870 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in IQVIA by 3.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,510,685 shares of the medical research company's stock valued at $634,927,000 after purchasing an additional 92,293 shares during the period. Finally, Capital Research Global Investors grew its position in shares of IQVIA by 7.2% in the 1st quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company's stock worth $540,882,000 after buying an additional 143,533 shares during the period. 89.62% of the stock is currently owned by institutional investors and hedge funds.

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.