IQVIA (NYSE:IQV) Reaches New 52-Week Low Following Analyst Downgrade

IQVIA Holdings Inc. (NYSE:IQV)’s stock price reached a new 52-week low during trading on Wednesday after Citigroup lowered their price target on the stock from $225.00 to $210.00. Citigroup currently has a neutral rating on the stock. IQVIA traded as low as $179.28 and last traded at $183.75, with a volume of 1649439 shares traded. The stock had previously closed at $184.85.

IQV has been the subject of a number of other reports. UBS Group decreased their price target on IQVIA from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $270.00 price target on shares of IQVIA in a research note on Monday, February 10th. Stephens initiated coverage on shares of IQVIA in a report on Friday, December 20th. They issued an “overweight” rating and a $250.00 target price on the stock. Stifel Nicolaus cut their target price on shares of IQVIA from $273.00 to $261.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, BTIG Research cut shares of IQVIA from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.05.

Hedge Funds Weigh In On IQVIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in IQV. Norges Bank purchased a new position in IQVIA during the 4th quarter worth approximately $336,041,000. Raymond James Financial Inc. purchased a new position in IQVIA during the 4th quarter worth approximately $236,120,000. American Century Companies Inc. grew its position in IQVIA by 396.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company’s stock worth $222,987,000 after purchasing an additional 905,960 shares in the last quarter. Invesco Ltd. grew its position in IQVIA by 53.4% during the 4th quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company’s stock worth $509,012,000 after purchasing an additional 902,226 shares in the last quarter. Finally, FMR LLC grew its position in IQVIA by 38.7% during the 3rd quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock worth $684,213,000 after purchasing an additional 804,963 shares in the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

IQVIA Stock Down 0.2 %

The business’s 50 day simple moving average is $197.95 and its 200-day simple moving average is $213.47. The company has a market cap of $32.70 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.84 and a current ratio of 0.84.

IQVIA (NYSE:IQV) last issued its earnings results on Thursday, February 6th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. Sell-side analysts expect that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

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.