Iqvia (IQV) Given New $145.00 Price Target at Morgan Stanley

Iqvia (NYSE:IQV) had its target price upped by equities research analysts at Morgan Stanley from $130.00 to $145.00 in a research report issued to clients and investors on Monday. The firm presently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s price target points to a potential upside of 15.94% from the company’s previous close.

IQV has been the subject of several other research reports. Robert W. Baird lifted their price target on shares of Iqvia from $143.00 to $146.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 2nd. Royal Bank of Canada lifted their price target on shares of Iqvia to $137.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 23rd. Raymond James lifted their price target on shares of Iqvia from $136.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 31st. Barclays lifted their price target on shares of Iqvia from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 23rd. Finally, Zacks Investment Research cut shares of Iqvia from a “buy” rating to a “hold” rating in a research report on Monday, August 20th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $134.41.

IQV opened at $125.07 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $25.30 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 1.79 and a beta of 0.81. Iqvia has a 1-year low of $91.57 and a 1-year high of $135.48.

Iqvia (NYSE:IQV) last posted its quarterly earnings data on Monday, October 22nd. The medical research company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Iqvia had a net margin of 12.29% and a return on equity of 13.69%. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts forecast that Iqvia will post 5.13 EPS for the current year.

In other Iqvia news, Director John G. Danhakl sold 370,470 shares of Iqvia stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $124.83, for a total value of $46,245,770.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John G. Danhakl sold 221,900 shares of Iqvia stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $126.63, for a total transaction of $28,099,197.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 601,586 shares of company stock valued at $75,510,422. Corporate insiders own 6.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Carillon Tower Advisers Inc. lifted its position in shares of Iqvia by 9.2% in the second quarter. Carillon Tower Advisers Inc. now owns 258,241 shares of the medical research company’s stock worth $25,777,000 after purchasing an additional 21,846 shares in the last quarter. Barings LLC raised its position in Iqvia by 74.1% during the third quarter. Barings LLC now owns 18,962 shares of the medical research company’s stock worth $2,460,000 after acquiring an additional 8,070 shares in the last quarter. Northern Trust Corp raised its position in Iqvia by 7.0% during the second quarter. Northern Trust Corp now owns 1,877,470 shares of the medical research company’s stock worth $187,408,000 after acquiring an additional 122,260 shares in the last quarter. Redpoint Investment Management Pty Ltd raised its position in Iqvia by 25.0% during the second quarter. Redpoint Investment Management Pty Ltd now owns 13,657 shares of the medical research company’s stock worth $1,363,000 after acquiring an additional 2,732 shares in the last quarter. Finally, BP PLC raised its position in Iqvia by 5.0% during the third quarter. BP PLC now owns 21,000 shares of the medical research company’s stock worth $2,725,000 after acquiring an additional 1,000 shares in the last quarter. 89.33% of the stock is currently owned by hedge funds and other institutional investors.

About Iqvia

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.

Read More: Marijuana Stocks

Analyst Recommendations for Iqvia (NYSE:IQV)

Receive News & Ratings for Iqvia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iqvia and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit