Iqvia (NYSE:IQV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
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 equities analysts have also recently issued reports on the stock. Mitsubishi UFJ Financial Group started coverage on shares of Iqvia in a research report on Friday, December 15th. They issued a “neutral” rating and a $112.00 price target for the company. KeyCorp restated a “sector weight” rating and issued a $100.00 price target on shares of Iqvia in a research report on Friday, November 10th. Morgan Stanley upped their price target on shares of Iqvia from $96.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. Barclays increased their price objective on shares of Iqvia from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Finally, Evercore ISI started coverage on shares of Iqvia in a research report on Thursday, January 18th. They set an “outperform” rating and a $112.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $110.02.
Iqvia (NYSE:IQV) last announced its quarterly earnings results on Wednesday, February 14th. The medical research company reported $1.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.02). Iqvia had a net margin of 13.44% and a return on equity of 13.03%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the company posted $1.09 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. equities research analysts predict that Iqvia will post 4.1 earnings per share for the current year.
In other Iqvia news, Director John Connaughton sold 1,163,191 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $102.00, for a total value of $118,645,482.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cpp Investment Board Private H sold 7,497,807 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $102.00, for a total transaction of $764,776,314.00. The disclosure for this sale can be found here. Insiders sold 8,727,078 shares of company stock valued at $890,124,079 over the last 90 days. Corporate insiders own 6.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Winslow Evans & Crocker Inc. acquired a new stake in Iqvia in the fourth quarter worth $123,000. Focused Wealth Management Inc acquired a new stake in Iqvia in the fourth quarter worth $166,000. Valeo Financial Advisors LLC acquired a new stake in Iqvia in the fourth quarter worth $170,000. IFP Advisors Inc acquired a new stake in Iqvia in the fourth quarter worth $200,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Iqvia in the fourth quarter worth $209,000. Institutional investors and hedge funds own 96.09% of the company’s stock.
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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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