Equities research analysts at Citigroup initiated coverage on shares of Iqvia (NYSE:IQV) in a report released on Monday, January 6th, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $185.00 price target on the medical research company’s stock. Citigroup‘s price target would suggest a potential upside of 16.08% from the stock’s current price.
A number of other equities analysts have also commented on IQV. Credit Suisse Group reissued a “buy” rating and issued a $170.00 price objective on shares of Iqvia in a research note on Friday, December 20th. Wolfe Research upgraded Iqvia from a “peer perform” rating to an “outperform” rating in a research report on Thursday, November 14th. ValuEngine downgraded Iqvia from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Cfra upgraded Iqvia from a “sell” rating to a “hold” rating in a report on Friday, December 13th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $167.83.
Shares of NYSE IQV opened at $159.37 on Monday. The company has a market cap of $30.84 billion, a P/E ratio of 31.13, a P/E/G ratio of 1.69 and a beta of 0.88. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.85. Iqvia has a 12 month low of $122.55 and a 12 month high of $164.13. The business’s 50 day moving average is $151.53 and its two-hundred day moving average is $151.63.
Iqvia (NYSE:IQV) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $1.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.03. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.76 billion. Iqvia had a return on equity of 16.95% and a net margin of 2.24%. Iqvia’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 EPS. Sell-side analysts expect that Iqvia will post 5.9 earnings per share for the current fiscal year.
In other Iqvia news, Director Michael J. Evanisko sold 6,250 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $160.08, for a total value of $1,000,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael R. Mcdonnell sold 12,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $155.07, for a total value of $1,860,840.00. Following the completion of the sale, the chief financial officer now directly owns 14,366 shares in the company, valued at approximately $2,227,735.62. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Iqvia by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 18,316,909 shares of the medical research company’s stock worth $2,947,191,000 after buying an additional 352,839 shares during the period. BlackRock Inc. raised its holdings in Iqvia by 9.3% during the 2nd quarter. BlackRock Inc. now owns 13,436,830 shares of the medical research company’s stock valued at $2,161,986,000 after acquiring an additional 1,146,138 shares during the period. State Street Corp raised its holdings in Iqvia by 8.2% during the 3rd quarter. State Street Corp now owns 7,338,578 shares of the medical research company’s stock valued at $1,096,237,000 after acquiring an additional 559,040 shares during the period. Farallon Capital Management LLC raised its holdings in Iqvia by 19.5% during the 2nd quarter. Farallon Capital Management LLC now owns 2,579,011 shares of the medical research company’s stock valued at $414,963,000 after acquiring an additional 421,416 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Iqvia by 18.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,124,226 shares of the medical research company’s stock worth $341,788,000 after purchasing an additional 331,390 shares during the period. 89.88% of the stock is currently owned by institutional investors.
Iqvia Company Profile
IQVIA Holdings Inc provides advanced analytics, technology solutions, and contract 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.
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