IQVIA (NYSE:IQV) Cut to Hold at HSBC

IQVIA (NYSE:IQV - Get Free Report) was downgraded by equities research analysts at HSBC from a "buy" rating to a "hold" rating in a note issued to investors on Friday, MarketBeat reports. They presently have a $160.00 price target on the medical research company's stock, down from their previous price target of $260.00. HSBC's price objective suggests a potential upside of 5.02% from the stock's current price.

IQV has been the subject of a number of other reports. Morgan Stanley upped their price target on IQVIA from $245.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. UBS Group dropped their price target on IQVIA from $260.00 to $255.00 and set a "buy" rating for the company in a research report on Friday, February 7th. JPMorgan Chase & Co. lowered their price objective on IQVIA from $240.00 to $232.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Mizuho lowered their price objective on IQVIA from $242.00 to $210.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Citigroup lowered their price objective on IQVIA from $225.00 to $210.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $237.62.

IQVIA Price Performance

Shares of IQVIA stock traded down $1.10 during mid-day trading on Friday, reaching $152.35. 737,067 shares of the stock traded hands, compared to its average volume of 1,423,126. The business has a 50-day moving average of $169.86 and a 200 day moving average of $192.72. IQVIA has a fifty-two week low of $135.97 and a fifty-two week high of $252.88. The stock has a market capitalization of $26.86 billion, a PE ratio of 20.31, a PEG ratio of 1.99 and a beta of 1.46. 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 - Get Free Report) last announced its earnings results on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing analysts' consensus estimates of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. On average, analysts predict that IQVIA will post 10.84 EPS for the current year.

Hedge Funds Weigh In On IQVIA

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. World Investment Advisors LLC purchased a new stake in IQVIA during the third quarter worth approximately $14,633,000. Arvest Bank Trust Division purchased a new stake in IQVIA during the third quarter worth approximately $21,079,000. Wilmington Savings Fund Society FSB purchased a new stake in IQVIA during the third quarter worth approximately $2,310,000. Tidal Investments LLC lifted its stake in IQVIA by 9.3% during the third quarter. Tidal Investments LLC now owns 5,980 shares of the medical research company's stock worth $1,417,000 after purchasing an additional 509 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in IQVIA by 1.2% during the third quarter. Franklin Resources Inc. now owns 501,807 shares of the medical research company's stock worth $117,031,000 after purchasing an additional 6,011 shares during the last quarter. Hedge funds and other institutional investors own 89.62% of the company's stock.

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.