IQVIA (NYSE:IQV) Updates FY24 Earnings Guidance

IQVIA (NYSE:IQV) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $10.95-11.25 for the period, compared to the consensus earnings per share estimate of $11.11. The company issued revenue guidance of $15.325-15.575 billion, compared to the consensus revenue estimate of $15.53 billion.

Analyst Ratings Changes

IQV has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of IQVIA from a hold rating to a buy rating in a research note on Friday, February 16th. Evercore ISI cut their target price on IQVIA from $275.00 to $250.00 and set an outperform rating for the company in a research note on Friday. SVB Leerink began coverage on IQVIA in a research note on Monday, February 26th. They issued an outperform rating and a $290.00 price target on the stock. Truist Financial cut their price objective on IQVIA from $297.00 to $292.00 and set a buy rating for the company in a research report on Friday. Finally, Leerink Partnrs restated an outperform rating on shares of IQVIA in a research report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $257.57.

IQVIA Trading Up 0.6 %

Shares of IQVIA stock traded up $1.23 during mid-day trading on Friday, hitting $223.37. 1,052,929 shares of the stock were exchanged, compared to its average volume of 831,136. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $40.54 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.16 and a beta of 1.52. The company has a 50-day simple moving average of $244.08 and a 200 day simple moving average of $224.01. IQVIA has a twelve month low of $167.42 and a twelve month high of $261.73.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.02. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter last year, the firm earned $2.54 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. Research analysts forecast that IQVIA will post 10.12 EPS for the current year.

Insider Activity at IQVIA

In other news, insider Ari Bousbib sold 31,678 shares of IQVIA stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the sale, the insider now owns 796,752 shares in the company, valued at $199,610,278.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the completion of the sale, the insider now owns 796,752 shares in the company, valued at approximately $199,610,278.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eric Sherbet sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $241.50, for a total value of $241,500.00. Following the completion of the transaction, the insider now directly owns 20,836 shares in the company, valued at $5,031,894. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,285 shares of company stock worth $10,331,003. 1.60% of the stock is currently owned by corporate insiders.

IQVIA Company Profile

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.