Royal Bank of Canada Reiterates Outperform Rating for IQVIA (NYSE:IQV)

Royal Bank of Canada restated their outperform rating on shares of IQVIA (NYSE:IQV - Free Report) in a research note released on Friday morning, Benzinga reports. The brokerage currently has a $270.00 price objective on the medical research company's stock.

A number of other equities research analysts have also weighed in on IQV. JPMorgan Chase & Co. dropped their price objective on shares of IQVIA from $288.00 to $279.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Evercore ISI dropped their price objective on shares of IQVIA from $270.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, October 8th. UBS Group boosted their price objective on shares of IQVIA from $295.00 to $300.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. StockNews.com raised shares of IQVIA from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Truist Financial dropped their price objective on shares of IQVIA from $300.00 to $286.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $261.24.

IQVIA Stock Up 1.6 %

Shares of IQV stock traded up $3.34 during trading hours on Friday, reaching $209.16. 1,461,103 shares of the company's stock were exchanged, compared to its average volume of 1,087,412. The stock's 50 day moving average is $235.10 and its 200-day moving average is $229.89. The company has a market cap of $38.13 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 2.11 and a beta of 1.49. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. IQVIA has a fifty-two week low of $181.03 and a fifty-two week high of $261.73.

Insider Buying and Selling

In related 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 transaction, the insider now owns 19,536 shares in the company, valued at $4,812,302.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IQV. Wealth Enhancement Advisory Services LLC raised its holdings in IQVIA by 5.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,898 shares of the medical research company's stock valued at $1,492,000 after acquiring an additional 300 shares during the last quarter. Norden Group LLC acquired a new stake in IQVIA in the 1st quarter valued at about $703,000. BNP Paribas Financial Markets raised its holdings in IQVIA by 48.4% in the 1st quarter. BNP Paribas Financial Markets now owns 164,147 shares of the medical research company's stock valued at $41,511,000 after acquiring an additional 53,560 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of IQVIA by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 36,288 shares of the medical research company's stock worth $9,177,000 after buying an additional 1,172 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of IQVIA by 10.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,078 shares of the medical research company's stock worth $1,284,000 after buying an additional 468 shares during the last quarter. Institutional investors and hedge funds own 89.62% of the company's stock.

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.