Iqvia (IQV) Receives New Coverage from Analysts at Wolfe Research

Equities research analysts at Wolfe Research initiated coverage on shares of Iqvia (NYSE:IQV) in a note issued to investors on Tuesday, The Fly reports. The firm set a “market perform” rating on the medical research company’s stock.

Several other research analysts also recently issued reports on IQV. Morgan Stanley upped their price objective on Iqvia from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, December 3rd. Barclays upped their price objective on Iqvia from $160.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Piper Jaffray Companies upped their price objective on Iqvia to $148.00 and gave the stock a “neutral” rating in a report on Friday, February 15th. UBS Group set a $170.00 target price on shares of Iqvia and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Argus upped their target price on shares of Iqvia from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 25th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Iqvia presently has an average rating of “Buy” and an average price target of $146.88.

NYSE:IQV traded up $0.01 during trading hours on Tuesday, hitting $144.32. 170,219 shares of the stock were exchanged, compared to its average volume of 1,365,961. Iqvia has a twelve month low of $91.57 and a twelve month high of $145.60. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $28.45 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 1.75 and a beta of 0.85.

Iqvia (NYSE:IQV) last posted its quarterly earnings data on Thursday, February 14th. The medical research company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.03. Iqvia had a return on equity of 14.25% and a net margin of 2.49%. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the business earned $1.40 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts predict that Iqvia will post 5.87 EPS for the current fiscal year.

In related news, insider W Richard Staub sold 27,025 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $140.54, for a total value of $3,798,093.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald A. Rittenmeyer sold 3,840 shares of the company’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $130.00, for a total transaction of $499,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,171,345 shares of company stock valued at $587,292,238 in the last quarter. Corporate insiders own 6.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IQV. Oregon Public Employees Retirement Fund increased its position in shares of Iqvia by 44,777.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,140,389 shares of the medical research company’s stock valued at $61,000 after buying an additional 7,124,478 shares in the last quarter. Steadfast Capital Management LP increased its position in shares of Iqvia by 218.4% in the 3rd quarter. Steadfast Capital Management LP now owns 2,796,870 shares of the medical research company’s stock valued at $362,866,000 after buying an additional 1,918,336 shares in the last quarter. FMR LLC increased its position in shares of Iqvia by 41.1% in the 4th quarter. FMR LLC now owns 4,217,991 shares of the medical research company’s stock valued at $490,004,000 after buying an additional 1,228,148 shares in the last quarter. USS Investment Management Ltd increased its position in shares of Iqvia by 173.0% in the 4th quarter. USS Investment Management Ltd now owns 1,820,200 shares of the medical research company’s stock valued at $211,498,000 after buying an additional 1,153,500 shares in the last quarter. Finally, Norges Bank bought a new position in Iqvia during the 4th quarter worth about $124,606,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

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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The Fly

Analyst Recommendations for Iqvia (NYSE:IQV)

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