Iqvia (IQV) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Iqvia (NYSE:IQV) issued its earnings results on Wednesday. The medical research company reported $1.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.02), Morningstar.com reports. Iqvia had a return on equity of 12.60% and a net margin of 0.58%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the company earned $1.09 EPS. Iqvia’s quarterly revenue was up 10.7% on a year-over-year basis. Iqvia updated its Q1 guidance to $1.23-1.30 EPS and its FY18 guidance to $5.35-5.60 EPS.

Shares of Iqvia (NYSE IQV) traded down $3.11 on Thursday, reaching $101.57. The company had a trading volume of 1,869,437 shares, compared to its average volume of 1,180,000. The stock has a market capitalization of $21,130.00, a P/E ratio of 67.71, a P/E/G ratio of 1.36 and a beta of 0.61. Iqvia has a 1 year low of $75.94 and a 1 year high of $110.67. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.22 and a quick ratio of 1.22.

IQV has been the subject of several analyst reports. Zacks Investment Research raised Iqvia from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research report on Saturday, October 21st. Stifel Nicolaus raised Iqvia from a “hold” rating to a “buy” rating and upped their target price for the stock from $92.00 to $128.00 in a research report on Friday, October 27th. Barclays upped their target price on Iqvia from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Jefferies Group upped their target price on Iqvia from $107.00 to $110.00 and gave the stock a “hold” rating in a research report on Monday, October 30th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $125.00 target price (up previously from $115.00) on shares of Iqvia in a research report on Tuesday, October 31st. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $109.91.

In other Iqvia news, Director John Connaughton sold 1,163,191 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $102.00, for a total transaction of $118,645,482.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Cpp Investment Board Private H sold 7,497,807 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $102.00, for a total value of $764,776,314.00. The disclosure for this sale can be found here. Insiders sold 8,727,078 shares of company stock valued at $890,124,079 in the last three months. 6.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Halsey Associates Inc. CT acquired a new stake in Iqvia during the fourth quarter valued at approximately $18,226,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Iqvia during the fourth quarter valued at approximately $11,695,000. MetLife Investment Advisors LLC acquired a new stake in Iqvia during the fourth quarter valued at approximately $4,410,000. Jump Trading LLC acquired a new stake in Iqvia during the fourth quarter valued at approximately $326,000. Finally, Pacific Grove Capital LP acquired a new stake in Iqvia during the fourth quarter valued at approximately $5,163,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was posted by Markets Daily and is the property of of Markets Daily. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.themarketsdaily.com/2018/02/15/iqvia-iqv-announces-earnings-results.html.

About Iqvia

IQVIA Holdings Inc, formerly Quintiles IMS Holdings, Inc, provides integrated information and technology-enabled healthcare services. The Company operates through segments, including Commercial Solutions; Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offerings include national information offerings, sub-national information offerings, technology solutions, and workflow analytics and consulting services.

Earnings History for Iqvia (NYSE:IQV)

Receive News & Ratings for Iqvia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iqvia and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply