Piper Jaffray Companies Increases Iqvia (IQV) Price Target to $131.00

Iqvia (NYSE:IQV) had its target price boosted by stock analysts at Piper Jaffray Companies to $131.00 in a note issued to investors on Tuesday, The Fly reports. The firm presently has a “neutral” rating on the medical research company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 8.91% from the company’s current price.

IQV has been the subject of several other reports. Zacks Investment Research upgraded shares of Iqvia from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a report on Tuesday. Barclays raised their price target on shares of Iqvia from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday. ValuEngine upgraded shares of Iqvia from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Royal Bank of Canada restated a “buy” rating and set a $129.00 price target on shares of Iqvia in a report on Wednesday, July 25th. Finally, Stifel Nicolaus raised their price target on shares of Iqvia from $128.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Iqvia has an average rating of “Buy” and an average price target of $130.89.

Shares of IQV traded down $6.17 during mid-day trading on Tuesday, hitting $120.28. The company’s stock had a trading volume of 1,368,915 shares, compared to its average volume of 1,028,486. The stock has a market capitalization of $25.71 billion, a P/E ratio of 27.59, a P/E/G ratio of 1.82 and a beta of 0.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.13 and a quick ratio of 1.13. Iqvia has a fifty-two week low of $91.57 and a fifty-two week high of $135.48.

Iqvia (NYSE:IQV) last announced its earnings results on Monday, October 22nd. The medical research company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Iqvia had a net margin of 12.68% and a return on equity of 13.51%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Iqvia will post 5.13 EPS for the current fiscal year.

In related news, insider Ari Bousbib sold 368,640 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $122.09, for a total transaction of $45,007,257.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John G. Danhakl sold 370,470 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $124.83, for a total transaction of $46,245,770.10. The disclosure for this sale can be found here. Insiders have sold 978,777 shares of company stock worth $121,566,089 in the last ninety days. 6.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of IQV. First Trust Advisors LP acquired a new stake in Iqvia during the second quarter worth $99,127,000. Laurion Capital Management LP boosted its stake in Iqvia by 188.1% during the second quarter. Laurion Capital Management LP now owns 378,318 shares of the medical research company’s stock worth $37,764,000 after buying an additional 807,697 shares in the last quarter. BlackRock Inc. boosted its stake in Iqvia by 5.7% during the second quarter. BlackRock Inc. now owns 10,170,048 shares of the medical research company’s stock worth $1,015,173,000 after buying an additional 546,878 shares in the last quarter. Atalanta Sosnoff Capital LLC acquired a new stake in Iqvia during the third quarter worth $51,970,000. Finally, Retirement Systems of Alabama boosted its stake in Iqvia by 374.0% during the second quarter. Retirement Systems of Alabama now owns 330,106 shares of the medical research company’s stock worth $32,951,000 after buying an additional 260,467 shares in the last quarter. Hedge funds and other institutional investors own 90.70% of the company’s stock.

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.

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