IQVIA (NYSE:IQV) Price Target Cut to $177.00 by Analysts at JPMorgan Chase & Co.

IQVIA (NYSE:IQV) had its price target reduced by JPMorgan Chase & Co. from $232.00 to $177.00 in a research report sent to investors on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical research company’s stock.

A number of other research analysts also recently weighed in on the stock. Truist Financial cut their price target on shares of IQVIA from $263.00 to $216.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. StockNews.com downgraded shares of IQVIA from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Hsbc Global Res downgraded shares of IQVIA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Morgan Stanley lifted their target price on shares of IQVIA from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, HSBC downgraded shares of IQVIA from a “buy” rating to a “hold” rating and dropped their target price for the stock from $260.00 to $160.00 in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.14.

IQVIA Trading Down 5.3%

Shares of NYSE:IQV opened at $137.34 on Monday. The firm has a fifty day moving average of $157.30 and a two-hundred day moving average of $184.65. The firm has a market capitalization of $23.76 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34. IQVIA has a 12-month low of $135.97 and a 12-month high of $252.88. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.12.

IQVIA (NYSE:IQV) last issued its earnings results on Tuesday, May 6th. The medical research company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.07. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.77 billion. IQVIA had a net margin of 8.91% and a return on equity of 28.81%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $2.54 EPS. On average, equities analysts expect that IQVIA will post 10.84 EPS for the current fiscal year.

Institutional Trading of IQVIA

Several institutional investors have recently made changes to their positions in IQV. JPMorgan Chase & Co. boosted its position in shares of IQVIA by 46.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,845,711 shares of the medical research company’s stock valued at $437,378,000 after acquiring an additional 583,396 shares in the last quarter. Merit Financial Group LLC boosted its position in IQVIA by 32.8% in the fourth quarter. Merit Financial Group LLC now owns 4,293 shares of the medical research company’s stock valued at $844,000 after buying an additional 1,060 shares in the last quarter. Client 1ST Advisory Group LLC acquired a new position in IQVIA in the fourth quarter valued at about $614,000. UMB Bank n.a. boosted its position in IQVIA by 72.8% in the fourth quarter. UMB Bank n.a. now owns 401 shares of the medical research company’s stock valued at $79,000 after buying an additional 169 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in IQVIA by 16.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,172 shares of the medical research company’s stock valued at $230,000 after buying an additional 169 shares in the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.

About IQVIA

IQVIA Holdings Inc engages in the provision of advanced analytics, technology solutions, and clinical 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.