IQVIA (NYSE:IQV) Upgraded by Hsbc Global Res to "Strong-Buy" Rating

Key Points

• IQVIA has been upgraded to a "strong-buy" rating by HSBC Global Research, reflecting increased confidence in the stock.
• The company's price target has been raised significantly by several analysts, with HSBC setting it at $235.00, while Evercore ISI increased theirs to $240.00.
• IQVIA reported strong quarterly earnings, achieving $4.02 billion in revenue, exceeding expectations and indicating 5.3% year-over-year growth.

IQVIA (NYSE:IQV - Get Free Report) was upgraded by stock analysts at Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Evercore ISI boosted their price objective on IQVIA from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Wednesday. Barclays boosted their price objective on IQVIA from $185.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, October 2nd. William Blair reiterated an "outperform" rating on shares of IQVIA in a report on Wednesday, July 23rd. Robert W. Baird boosted their price objective on IQVIA from $159.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, HSBC upgraded IQVIA from a "hold" rating to a "buy" rating and upped their price target for the stock from $195.00 to $235.00 in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, IQVIA has an average rating of "Moderate Buy" and a consensus price target of $236.45.

IQVIA Stock Performance

Shares of IQVIA stock opened at $203.16 on Thursday. IQVIA has a 52 week low of $134.65 and a 52 week high of $237.34. The business's fifty day simple moving average is $188.70 and its 200-day simple moving average is $168.15. The firm has a market cap of $34.54 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.20 and a beta of 1.32. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.45.

IQVIA (NYSE:IQV - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.77 by $0.04. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. IQVIA had a return on equity of 30.05% and a net margin of 7.88%.The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.64 EPS. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. Equities analysts forecast that IQVIA will post 10.84 earnings per share for the current year.

Insider Activity

In related news, insider Eric Sherbet sold 5,800 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $190.05, for a total value of $1,102,290.00. Following the completion of the sale, the insider directly owned 27,178 shares of the company's stock, valued at $5,165,178.90. This represents a 17.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Keriann Cherofsky sold 549 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total value of $105,149.97. Following the completion of the sale, the insider directly owned 2,910 shares of the company's stock, valued at approximately $557,352.30. This trade represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Institutional Trading of IQVIA

Large investors have recently made changes to their positions in the company. Sowell Financial Services LLC acquired a new stake in shares of IQVIA in the 1st quarter valued at about $305,000. Mather Group LLC. lifted its position in IQVIA by 83.5% during the 1st quarter. Mather Group LLC. now owns 769 shares of the medical research company's stock worth $136,000 after acquiring an additional 350 shares during the period. Patton Fund Management Inc. acquired a new stake in IQVIA during the 2nd quarter worth approximately $231,000. Private Advisor Group LLC lifted its position in IQVIA by 11.6% during the 1st quarter. Private Advisor Group LLC now owns 5,435 shares of the medical research company's stock worth $958,000 after acquiring an additional 566 shares during the period. Finally, Park Avenue Securities LLC lifted its position in IQVIA by 40.4% during the 1st quarter. Park Avenue Securities LLC now owns 5,425 shares of the medical research company's stock worth $956,000 after acquiring an additional 1,562 shares during the period. 89.62% of the stock is 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.

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