Royal Bank of Canada Reaffirms “Outperform” Rating for IQVIA (NYSE:IQV)

IQVIA (NYSE:IQV)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a report issued on Friday, Benzinga reports. They currently have a $270.00 price objective on the medical research company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 29.60% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Truist Financial lowered their price target on IQVIA from $300.00 to $286.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group cut their price target on IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird cut their price target on IQVIA from $256.00 to $223.00 and set a “neutral” rating for the company in a report on Friday. Redburn Atlantic assumed coverage on IQVIA in a research note on Monday, October 14th. They set a “buy” rating and a $276.00 target price for the company. Finally, Evercore ISI cut their target price on IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $263.40.

IQVIA Stock Performance

Shares of IQV stock traded up $2.52 during mid-day trading on Friday, reaching $208.34. The stock had a trading volume of 563,664 shares, compared to its average volume of 1,081,619. The business’s fifty day moving average is $235.10 and its 200-day moving average is $229.89. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. The firm has a market cap of $37.98 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 2.11 and a beta of 1.49. IQVIA has a 1-year low of $181.03 and a 1-year high of $261.73.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the transaction, the insider now owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in shares of IQVIA by 733.3% during the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of IQVIA during the second quarter worth $27,000. Capital Performance Advisors LLP acquired a new stake in shares of IQVIA during the third quarter worth $27,000. Park Place Capital Corp bought a new position in IQVIA in the third quarter valued at $28,000. Finally, Itau Unibanco Holding S.A. bought a new position in IQVIA in the second quarter valued at $29,000. Institutional investors own 89.62% of the company’s stock.

About IQVIA

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.