IQVIA (NYSE:IQV) Shares Cross Above 50 Day Moving Average - What's Next?

Key Points

• IQVIA shares crossed above their 50-day moving average, trading as high as $273.46 versus the average of $266.55.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $294.21; recent targets include highs of $325 from JPMorgan and $319 from RBC.
• In its latest quarter, IQVIA reported EPS of $3.34 and revenue of $4.43 billion, beating analyst estimates; revenue rose 8% year over year.

Shares of IQVIA Holdings Inc. (NYSE:IQV - Get Free Report) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $266.55 and traded as high as $273.46. IQVIA shares last traded at $271.4550, with a volume of 1,398,376 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IQV shares. Stifel Nicolaus boosted their target price on shares of IQVIA from $276.00 to $303.00 and gave the stock a "buy" rating in a research report on Wednesday, October 14th. Royal Bank Of Canada lifted their target price on shares of IQVIA from $247.00 to $319.00 and gave the company an "outperform" rating in a research note on Tuesday, September 29th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of IQVIA from $191.00 to $179.00 in a report on Thursday, October 15th. JPMorgan Chase & Co. raised their target price on shares of IQVIA from $295.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, October 28th. Finally, Barclays upped their price target on shares of IQVIA from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $294.21.

IQVIA Trading Up 2.5%

The business's 50 day moving average price is $266.55 and its two-hundred day moving average price is $211.03. The company has a market capitalization of $44.74 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 2.30 and a beta of 1.16. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.83 and a current ratio of 0.83.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The medical research company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.08. IQVIA had a return on equity of 30.02% and a net margin of 8.05%. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the company posted $3.00 EPS. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts forecast that IQVIA Holdings Inc. will post 11.53 earnings per share for the current fiscal year.

Insider Buying and Selling at IQVIA

In related news, insider James G. Berkshire sold 2,668 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $261.33, for a total value of $697,228.44. Following the transaction, the insider owned 10,890 shares in the company, valued at approximately $2,845,883.70. This represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of IQVIA

Institutional investors have recently made changes to their positions in the company. Pension & Wealth Management Advisors Inc. purchased a new position in shares of IQVIA in the third quarter valued at about $30,000. Compass Financial Management LLC acquired a new position in IQVIA during the second quarter valued at approximately $27,000. Financial Freedom LLC acquired a new position in IQVIA during the 1st quarter valued at about $25,000. Ascentis Independent Advisors bought a new stake in IQVIA in the first quarter worth approximately $25,000. Finally, Elevation Wealth Partners LLC increased its stake in shares of IQVIA by 218.8% in the second quarter. Elevation Wealth Partners LLC now owns 153 shares of the medical research company's stock valued at $30,000 after buying an additional 105 shares in the last quarter. Institutional investors own 89.62% of the company's stock.

IQVIA Company Profile

IQVIA Holdings Inc provides clinical research services, healthcare data and analytics, and technology solutions to pharmaceutical, biotechnology, medical-device, and other healthcare organizations. Its services support the development and commercialization of medicines and other healthcare products.

The company's offerings include clinical trial planning and management, real-world data and evidence, consulting, and software and technology platforms for life sciences research and commercial operations.

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