UBS Group started coverage on shares of Iqvia (NYSE:IQV) in a report issued on Tuesday morning, 99wallstreet.com reports. The firm issued a buy rating on the medical research company’s stock.
Several other analysts have also recently commented on the stock. Royal Bank of Canada reiterated a $110.25 rating and issued a $128.00 price target on shares of Iqvia in a research note on Thursday, July 19th. Zacks Investment Research cut shares of Iqvia from a buy rating to a hold rating in a research note on Monday, August 20th. Raymond James boosted their price target on shares of Iqvia from $136.00 to $145.00 and gave the stock a strong-buy rating in a research note on Friday, August 31st. Mizuho set a $120.00 price target on shares of Iqvia and gave the stock a hold rating in a research note on Monday, August 6th. Finally, Argus set a $136.00 price target on shares of Iqvia and gave the stock a buy rating in a research note on Thursday, August 23rd. Five equities research 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. The stock has a consensus rating of Buy and an average price target of $126.95.
Shares of IQV stock opened at $124.79 on Tuesday. The firm has a market capitalization of $26.28 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 1.86 and a beta of 0.70. Iqvia has a 52 week low of $91.57 and a 52 week high of $132.24. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.13 and a current ratio of 1.13.
Iqvia (NYSE:IQV) last announced its quarterly earnings results on Tuesday, July 24th. The medical research company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.14 by $0.15. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Iqvia had a net margin of 12.68% and a return on equity of 13.51%. The business’s revenue was up 9.0% on a year-over-year basis. As a group, equities analysts expect that Iqvia will post 5.13 earnings per share for the current fiscal year.
In other news, insider Ari Bousbib sold 368,640 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $122.09, for a total transaction of $45,007,257.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald A. Rittenmeyer sold 7,680 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $122.41, for a total transaction of $940,108.80. The disclosure for this sale can be found here. Insiders have sold a total of 978,777 shares of company stock worth $121,566,089 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Iqvia by 5.7% during the 2nd quarter. BlackRock Inc. now owns 10,170,048 shares of the medical research company’s stock valued at $1,015,173,000 after buying an additional 546,878 shares in the last quarter. Northern Trust Corp raised its position in Iqvia by 7.0% in the 2nd quarter. Northern Trust Corp now owns 1,877,470 shares of the medical research company’s stock worth $187,408,000 after purchasing an additional 122,260 shares during the period. Morgan Stanley raised its position in Iqvia by 0.3% in the 2nd quarter. Morgan Stanley now owns 1,214,945 shares of the medical research company’s stock worth $121,278,000 after purchasing an additional 4,093 shares during the period. Bank of New York Mellon Corp raised its position in Iqvia by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,194,110 shares of the medical research company’s stock worth $119,196,000 after purchasing an additional 66,748 shares during the period. Finally, First Trust Advisors LP purchased a new stake in Iqvia in the 2nd quarter worth about $99,127,000. Hedge funds and other institutional investors own 91.91% of the company’s stock.
IQVIA Holdings Inc provides integrated information and technology-enabled healthcare services in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Commercial Solutions, Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offers a range of cloud-based applications and related implementation, real-world insights, and reference information services; and strategic and implementation consulting services, such as advanced analytics and commercial processes outsourcing services.
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