NEW YORK (AP) — Analysts cut their ratings on IMS Health Inc. Friday after the pharmaceutical market researcher lowered its expectations and said it will restructure and eliminate jobs following a weak second-quarter report. The Norwalk, Conn., company plans to trim 850 jobs and focus on higher growth regions and markets. IMS’s quarterly profit and revenue were both below analyst expectations, and the company reduced its profit and revenue forecasts for the full year. IMS forecast a charge of $110 million to $120 million in the third quarter from the restructuring, and said it will save $85 million a year starting in 2011. Robert W. Baird analyst Eric Coldwell downgraded the stock to “Underperform” from “Neutral” based on the results. He said the company will probably not report any profit growth in 2010 in addition to its lower expectations for 2009. “The client environment is weakening, another 18-month transition period is upon us with a massive global restructuring, and we see limited avenues for growth in years ahead,” he said. Coldwell said IMS shares did fairly well on Thursday despite the news, because the company said its adjusted profit was 44 cents per share — six cents per share ahead of analysts’ estimates. But Coldwell said IMS’s adjusted operating profit was really 30 cents per share, because the company posted a gain of 14 cents from a tax accrual reversal. He cut his price target to $11 per share from $14. Thomas Weisel Partners analyst Steven Halper downgraded the shares to “Market Perform” from “Overweight,” writing in a client note, “It appears that spending by IMS’s clients has declined while sales cycles have elongated.” IMS stock slid 5.9 percent to $12.14 Thursday. In premarket trading, shares gave up another 41 cents, or 3.4 percent, to $11.73.