ValuEngine Lowers Iqvia (IQV) to Hold

ValuEngine lowered shares of Iqvia (NYSE:IQV) from a buy rating to a hold rating in a research note issued to investors on Friday.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Iqvia from a strong sell rating to a hold rating in a research note on Friday, March 23rd. Goldman Sachs Group raised Iqvia from a neutral rating to a buy rating in a research note on Friday, April 13th. Robert W. Baird raised Iqvia from a neutral rating to an outperform rating in a research note on Monday, June 18th. Argus upped their price target on Iqvia from $110.00 to $112.00 and gave the stock a buy rating in a research note on Monday, April 9th. Finally, SunTrust Banks raised Iqvia from a hold rating to a buy rating in a research note on Wednesday, March 7th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $110.47.

Shares of Iqvia stock opened at $100.81 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The company has a market cap of $21.42 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 1.73 and a beta of 0.64. Iqvia has a 52 week low of $87.45 and a 52 week high of $110.67.

Iqvia (NYSE:IQV) last announced its earnings results on Wednesday, May 2nd. The medical research company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. Iqvia had a return on equity of 13.35% and a net margin of 13.07%. The company’s quarterly revenue was up 34.1% on a year-over-year basis. equities analysts predict that Iqvia will post 5.07 earnings per share for the current fiscal year.

In other news, major shareholder Cpp Investment Board Private H sold 9,291,036 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $103.00, for a total value of $956,976,708.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Connaughton sold 1,441,236 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $103.00, for a total value of $148,447,308.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,825,247 shares of company stock worth $1,115,016,428. Insiders own 6.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Iqvia during the fourth quarter valued at $942,532,000. Jackson Square Partners LLC purchased a new stake in shares of Iqvia during the fourth quarter valued at $464,053,000. Farallon Capital Management LLC boosted its position in shares of Iqvia by 6.6% during the first quarter. Farallon Capital Management LLC now owns 3,158,647 shares of the medical research company’s stock valued at $309,895,000 after buying an additional 195,703 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Iqvia during the fourth quarter valued at $253,128,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Iqvia during the fourth quarter valued at $157,217,000. 89.47% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Iqvia (NYSE:IQV)

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