IQVIA (NYSE:IQV) Shares Gap Down - Should You Sell?

IQVIA Holdings Inc. (NYSE:IQV) experienced a significant drop in share price before the market opened on Thursday. Previously, the stock had closed at $216.04 but opened sharply lower at $200.30. After trading commenced, IQVIA shares settled at $202.71 with a trading volume of 621,098 shares.

Analysts Set New Price Targets

Recent activity has seen IQVIA become the focus of multiple analyst reports. On October 14th, Redburn Atlantic started coverage on IQVIA, providing a "buy" rating along with a price target of $276.00. Earlier, on July 31st, Argus upgraded IQVIA to a "strong-buy" designation. Meanwhile, Barclays reduced its price target for IQVIA from $275.00 to $260.00 on October 15th, while maintaining an "overweight" rating. Truist Financial also adjusted its price target, lowering it from $300.00 to $286.00 on the same day as Redburn's report. Additionally, Morgan Stanley raised its price target from $270.00 to $280.00 and reaffirmed an "overweight" rating on July 23rd. Overall, four analysts have given the stock a hold rating, thirteen have given it a buy rating, and one has awarded it a strong buy rating. Data from MarketBeat shows that the consensus rating for IQVIA is "Moderate Buy" with an average price target of $267.27.

Check Out Our Latest Stock Report on IQVIA

IQVIA Trading Down 2.6%

As of the latest trading, IQVIA's market capitalization stands at $38.35 billion, with a price-to-earnings ratio of 28.06 and a price-to-earnings-growth ratio of 2.09. The stock has a beta of 1.49, indicating higher volatility compared to the market. Other technical indicators show that the company's fifty-day moving average is $235.88, and the two-hundred-day moving average is $230.06. The debt-to-equity ratio is currently 1.80, while both the current ratio and quick ratio are at 0.85.

Insider Activity at IQVIA

In insider news, Eric Sherbet, a key insider at IQVIA, sold 1,300 shares of the company's stock on August 27th. The shares were sold at an average price of $246.33, resulting in a transaction valued at $320,229. Following the sale, Sherbet holds 19,536 shares, which have a total value of approximately $4,812,302.88. This transaction represents a negligible decrease in their stock ownership. The details of this trade have been disclosed in a filing with the Securities and Exchange Commission, which is publicly accessible. Currently, insiders possess about 1.60% of IQVIA's stock.

Hedge Funds Weigh In On IQVIA

IQVIA's shares have also seen activity from several hedge funds and institutional investors recently. First Foundation Advisors increased its stake in IQVIA by 3.8% in the second quarter, owning 1,161 shares valued at $245,000 after acquiring 43 additional shares. Team Hewins LLC raised its holding in IQVIA by 5.0% in the first quarter, now owning 973 shares worth $246,000. Invera Wealth Advisors LLC slightly increased its IQVIA stock by 0.3% in the second quarter, totaling 14,506 shares valued at $3,183,000. Covestor Ltd increased its stake by a significant 45.3% in the first quarter, owning 154 shares worth $39,000 after buying 48 more shares. Lastly, Oregon Public Employees Retirement Fund raised its ownership by 0.3% during the second quarter, now holding 15,668 shares valued at $3,313,000. Overall, hedge funds and institutional investors control approximately 89.62% of IQVIA's stock.

IQVIA Company Profile

IQVIA Holdings Inc. provides advanced analytics, technology solutions, and clinical research services tailored for the life sciences industry across the Americas, Europe, Africa, and the Asia-Pacific. It operates through three main segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.

Additional Information

Before making any investment decisions, it is essential to stay updated with market trends and expert recommendations. Analysts suggest that potential investors consider various options rather than focusing solely on IQVIA. Presently, IQVIA holds a "Moderate Buy" rating, but several analysts have identified five other stocks they believe are more advantageous for investment at this time.

IQVIA, Shares, Analysts