Iqvia (IQV) Rating Lowered to Hold at Zacks Investment Research

Iqvia (NYSE:IQV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “

Several other research firms also recently weighed in on IQV. SunTrust Banks reiterated a “hold” rating and set a $114.00 target price on shares of Iqvia in a research report on Friday, November 3rd. Jefferies Group lifted their target price on Iqvia from $107.00 to $110.00 and gave the stock a “hold” rating in a research report on Monday, October 30th. Credit Suisse Group reiterated an “outperform” rating and set a $125.00 target price (up from $115.00) on shares of Iqvia in a research report on Tuesday, October 31st. Barclays lifted their target price on Iqvia from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Finally, Stifel Nicolaus upgraded Iqvia from a “hold” rating to a “buy” rating and lifted their target price for the stock from $92.00 to $128.00 in a research report on Friday, October 27th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Iqvia presently has a consensus rating of “Buy” and a consensus price target of $107.79.

Iqvia (NYSE IQV) traded up $3.08 during trading hours on Friday, hitting $103.00. The stock had a trading volume of 1,323,906 shares, compared to its average volume of 908,159. Iqvia has a fifty-two week low of $74.80 and a fifty-two week high of $110.67. The company has a market capitalization of $21,422.77, a P/E ratio of 355.18, a price-to-earnings-growth ratio of 1.42 and a beta of 0.61. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.22 and a current ratio of 1.22.

Iqvia (NYSE:IQV) last released its earnings results on Thursday, October 26th. The medical research company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.05. Iqvia had a return on equity of 12.60% and a net margin of 0.58%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was up 77.6% compared to the same quarter last year. analysts forecast that Iqvia will post 4.62 EPS for the current fiscal year.

In other Iqvia news, insider Ari Bousbib sold 46,080 shares of Iqvia stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $108.14, for a total value of $4,983,091.20. Following the transaction, the insider now owns 1,036,839 shares in the company, valued at $112,123,769.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack M. Greenberg sold 33,400 shares of Iqvia stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $108.07, for a total value of $3,609,538.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,806,558 shares of company stock worth $898,716,708. Insiders own 6.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of IQV. Exxonmobil Investment Management Inc. TX purchased a new position in Iqvia in the fourth quarter valued at about $2,266,000. DnB Asset Management AS purchased a new position in Iqvia in the fourth quarter valued at about $8,813,000. First Citizens Bank & Trust Co. purchased a new position in Iqvia in the fourth quarter valued at about $1,067,000. Franklin Street Advisors Inc. NC purchased a new position in Iqvia in the fourth quarter valued at about $7,446,000. Finally, Nisa Investment Advisors LLC purchased a new position in Iqvia in the fourth quarter valued at about $920,000. Institutional investors own 95.78% of the company’s stock.

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About Iqvia

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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