Credit Suisse Group Boosts Iqvia (NYSE:IQV) Price Target to $165.00

Iqvia (NYSE:IQV) had its price target raised by Credit Suisse Group from $159.00 to $165.00 in a report released on Wednesday, The Fly reports. They currently have an outperform rating on the medical research company’s stock.

Other analysts have also issued research reports about the company. Stifel Nicolaus lifted their price objective on Iqvia from $167.00 to $178.00 and gave the stock a buy rating in a report on Wednesday. Argus lifted their price objective on Iqvia from $140.00 to $160.00 and gave the stock a buy rating in a report on Monday, February 25th. They noted that the move was a valuation call. TheStreet lowered Iqvia from a b rating to a c+ rating in a report on Wednesday, May 1st. Zacks Investment Research raised Iqvia from a sell rating to a hold rating in a report on Friday, May 3rd. Finally, Wolfe Research started coverage on Iqvia in a report on Tuesday, April 2nd. They issued a market perform rating for the company. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $153.65.

Shares of IQV opened at $158.67 on Wednesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.14 and a quick ratio of 1.14. Iqvia has a one year low of $97.64 and a one year high of $159.54. The firm has a market capitalization of $30.48 billion, a P/E ratio of 29.10, a PEG ratio of 1.87 and a beta of 0.77.

Iqvia (NYSE:IQV) last issued its quarterly earnings data on Wednesday, May 1st. The medical research company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.12. Iqvia had a return on equity of 15.08% and a net margin of 2.35%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. Iqvia’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Iqvia will post 5.89 EPS for the current fiscal year.

In other Iqvia news, insider Ari Bousbib sold 96,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $140.96, for a total transaction of $13,532,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Evanisko sold 1,193 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $144.95, for a total value of $172,925.35. The disclosure for this sale can be found here. Insiders have sold 239,273 shares of company stock valued at $34,466,890 in the last three months. 6.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in IQV. BlackRock Inc. grew its holdings in Iqvia by 12.0% during the first quarter. BlackRock Inc. now owns 12,290,692 shares of the medical research company’s stock valued at $1,768,016,000 after purchasing an additional 1,313,508 shares during the period. FMR LLC lifted its position in shares of Iqvia by 41.1% in the fourth quarter. FMR LLC now owns 4,217,991 shares of the medical research company’s stock valued at $490,004,000 after acquiring an additional 1,228,148 shares in the last quarter. Norges Bank purchased a new position in shares of Iqvia in the fourth quarter valued at about $124,606,000. Boston Partners lifted its position in shares of Iqvia by 417.6% in the fourth quarter. Boston Partners now owns 1,315,752 shares of the medical research company’s stock valued at $152,851,000 after acquiring an additional 1,061,550 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Iqvia by 18.2% in the first quarter. AQR Capital Management LLC now owns 3,642,793 shares of the medical research company’s stock valued at $519,972,000 after acquiring an additional 561,276 shares in the last quarter. 89.69% of the stock is owned by institutional investors and hedge funds.

About Iqvia

IQVIA Holdings Inc provides advanced analytics, technology solutions, and contract research services to the life sciences industry in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.

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