Monday, February 18, 2019

Iqvia (IQV) Price Target Raised to $148.00 at Piper Jaffray Companies

Iqvia (NYSE:IQV) had its target price increased by Piper Jaffray Companies to $148.00 in a research note released on Friday morning, The Fly reports. They currently have a neutral rating on the medical research company’s stock.

A number of other analysts also recently issued reports on IQV. Jefferies Financial Group upgraded shares of Iqvia from a hold rating to a buy rating and lifted their price objective for the company from $136.00 to $150.00 in a report on Friday, January 18th. Goldman Sachs Group upgraded shares of Iqvia from a buy rating to a conviction-buy rating in a report on Friday, January 11th. Morgan Stanley lifted their price objective on shares of Iqvia from $130.00 to $145.00 and gave the company an overweight rating in a report on Monday, December 3rd. Zacks Investment Research downgraded shares of Iqvia from a buy rating to a hold rating in a report on Thursday, October 25th. Finally, Royal Bank of Canada lifted their price objective on shares of Iqvia to $137.00 and gave the company an outperform rating in a report on Tuesday, October 23rd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $143.38.

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Shares of IQV opened at $141.85 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 1.09. Iqvia has a twelve month low of $91.57 and a twelve month high of $143.42. The company has a market capitalization of $28.38 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 1.63 and a beta of 0.88.

Iqvia (NYSE:IQV) last announced its quarterly earnings results on Thursday, February 14th. The medical research company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.03. Iqvia had a net margin of 12.29% and a return on equity of 13.69%. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the firm posted $1.40 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. Analysts anticipate that Iqvia will post 5.13 earnings per share for the current year.

In other Iqvia news, major shareholder Canada Pension Plan Investment sold 3,164,388 shares of the company’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $123.72, for a total value of $391,498,083.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Group Holdings (Sbs) Advis Tpg sold 3,573,545 shares of the company’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $123.72, for a total transaction of $442,118,987.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,751,273 shares of company stock worth $835,335,596. 6.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. CENTRAL TRUST Co raised its stake in Iqvia by 1,150.0% during the fourth quarter. CENTRAL TRUST Co now owns 375 shares of the medical research company’s stock worth $44,000 after acquiring an additional 345 shares in the last quarter. Berman Capital Advisors LLC acquired a new position in Iqvia during the fourth quarter worth about $46,000. ERTS Wealth Advisors LLC acquired a new position in Iqvia during the fourth quarter worth about $46,000. Kaizen Advisory LLC raised its stake in Iqvia by 33.1% during the fourth quarter. Kaizen Advisory LLC now owns 450 shares of the medical research company’s stock worth $52,000 after acquiring an additional 112 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in Iqvia during the fourth quarter worth about $59,000. 93.62% of the stock is owned by institutional investors and hedge funds.

Iqvia Company Profile

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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