Iqvia (NYSE:IQV) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “IQVIA Holdings Inc. is a provider of information, innovative technology solutions and contract research services focused on using data and science which offer healthcare clients find better solutions for their patients. IQVIA Holdings Inc., formerly known as Quintiles IMS Holdings, Inc., is based in DURHAM, United States. “
A number of other brokerages also recently issued reports on IQV. SunTrust Banks reissued a “hold” rating and set a $110.00 price objective on shares of Iqvia in a research report on Monday, January 22nd. Mizuho set a $97.00 price objective on shares of Iqvia and gave the company a “hold” rating in a research report on Wednesday, January 24th. Royal Bank of Canada set a $118.00 price objective on shares of Iqvia and gave the company a “buy” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. upped their target price on shares of Iqvia from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Finally, Mitsubishi UFJ Financial Group began coverage on shares of Iqvia in a report on Friday, December 15th. They issued a “neutral” rating and a $112.00 target price for the company. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $110.02.
Shares of Iqvia (IQV) opened at $101.88 on Friday. Iqvia has a 1 year low of $77.16 and a 1 year high of $110.67. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market cap of $21,828.79, a price-to-earnings ratio of 16.84, a PEG ratio of 2.68 and a beta of 0.64.
Iqvia (NYSE:IQV) last issued its quarterly earnings data on Wednesday, February 14th. The medical research company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.02). Iqvia had a net margin of 13.44% and a return on equity of 13.03%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm earned $1.09 EPS. The company’s revenue was up 10.7% on a year-over-year basis. sell-side analysts forecast that Iqvia will post 2.84 earnings per share for the current year.
In other Iqvia news, insider James H. Erlinger III sold 10,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $99.97, for a total transaction of $999,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Evanisko sold 816 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $100.00, for a total transaction of $81,600.00. The disclosure for this sale can be found here. Insiders sold a total of 21,712 shares of company stock valued at $2,176,034 in the last ninety days. 6.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. bought a new position in shares of Iqvia during the 4th quarter valued at about $1,364,000. Colonial Trust Advisors bought a new position in shares of Iqvia during the 4th quarter valued at about $5,550,000. Xact Kapitalforvaltning AB bought a new position in shares of Iqvia during the 4th quarter valued at about $4,054,000. Envestnet Asset Management Inc. bought a new position in shares of Iqvia during the 4th quarter valued at about $1,497,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Iqvia during the 4th quarter valued at about $7,838,000. 92.33% of the stock is owned by institutional investors and hedge funds.
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IQVIA Holdings Inc, formerly Quintiles IMS Holdings, Inc, provides integrated information and technology-enabled healthcare services. The Company operates through segments, including Commercial Solutions; Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offerings include national information offerings, sub-national information offerings, technology solutions, and workflow analytics and consulting services.
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