IQVIA (NYSE:IQV) Sees Large Volume Increase - Here's Why

IQVIA Holdings Inc. (NYSE:IQV - Get Free Report) shares saw an uptick in trading volume on Monday . 3,129,111 shares traded hands during trading, an increase of 112% from the previous session's volume of 1,476,504 shares.The stock last traded at $154.18 and had previously closed at $148.99.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IQV shares. Royal Bank of Canada reissued an "outperform" rating and issued a $270.00 target price on shares of IQVIA in a research report on Monday, February 10th. Truist Financial lowered their price objective on shares of IQVIA from $263.00 to $216.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Citigroup cut their target price on shares of IQVIA from $225.00 to $210.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Morgan Stanley boosted their price target on IQVIA from $245.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Finally, Mizuho dropped their price objective on IQVIA from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $230.76.

IQVIA Stock Up 1.6%

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $24.68 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34. The firm has a 50 day moving average of $159.83 and a two-hundred day moving average of $185.86.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The medical research company reported $2.70 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.07. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.77 billion. IQVIA had a return on equity of 28.81% and a net margin of 8.91%. IQVIA's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 EPS. As a group, sell-side analysts anticipate that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Institutional Investors Weigh In On IQVIA

Large investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of IQVIA in the 4th quarter worth about $336,041,000. Raymond James Financial Inc. bought a new position in IQVIA during the fourth quarter worth $236,120,000. American Century Companies Inc. grew its holdings in IQVIA by 396.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company's stock worth $222,987,000 after purchasing an additional 905,960 shares during the period. Invesco Ltd. raised its holdings in shares of IQVIA by 53.4% during the fourth quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company's stock valued at $509,012,000 after purchasing an additional 902,226 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of IQVIA by 5,036.1% during the 1st quarter. Pacer Advisors Inc. now owns 871,704 shares of the medical research company's stock worth $153,681,000 after purchasing an additional 854,732 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.