Zacks: Brokerages Expect IQVIA Holdings Inc. (NYSE:IQV) Will Announce Quarterly Sales of $3.17 Billion

Wall Street brokerages expect IQVIA Holdings Inc. (NYSE:IQV) to announce sales of $3.17 billion for the current quarter, according to Zacks. Nine analysts have made estimates for IQVIA’s earnings. The highest sales estimate is $3.19 billion and the lowest is $3.16 billion. IQVIA reported sales of $2.75 billion during the same quarter last year, which would suggest a positive year over year growth rate of 15.3%. The business is scheduled to announce its next quarterly earnings results on Tuesday, April 27th.

On average, analysts expect that IQVIA will report full year sales of $12.81 billion for the current fiscal year, with estimates ranging from $12.75 billion to $12.89 billion. For the next financial year, analysts expect that the firm will post sales of $13.91 billion, with estimates ranging from $13.66 billion to $14.39 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for IQVIA.

IQVIA (NYSE:IQV) last issued its quarterly earnings data on Wednesday, February 10th. The medical research company reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.11. The business had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.14 billion. IQVIA had a net margin of 1.61% and a return on equity of 18.03%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.74 EPS.

IQV has been the topic of a number of research analyst reports. Truist boosted their price objective on shares of IQVIA from $197.00 to $235.00 in a research report on Thursday, February 11th. Mizuho boosted their price objective on shares of IQVIA from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 11th. Piper Sandler boosted their target price on shares of IQVIA from $179.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, February 11th. Robert W. Baird boosted their target price on shares of IQVIA from $208.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 11th. Finally, Morgan Stanley boosted their target price on shares of IQVIA from $205.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 11th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. IQVIA currently has an average rating of “Buy” and a consensus price target of $183.67.

IQVIA stock traded up $0.70 during mid-day trading on Thursday, reaching $190.84. 45,558 shares of the company traded hands, compared to its average volume of 924,720. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s 50 day moving average price is $186.50 and its 200 day moving average price is $170.55. The firm has a market capitalization of $36.50 billion, a price-to-earnings ratio of 208.95, a P/E/G ratio of 2.26 and a beta of 1.41. IQVIA has a 52-week low of $81.79 and a 52-week high of $199.99.

In other IQVIA news, Director John G. Danhakl purchased 63,451 shares of IQVIA stock in a transaction dated Wednesday, December 23rd. The stock was purchased at an average price of $176.95 per share, with a total value of $11,227,654.45. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IQV. Avantax Advisory Services Inc. purchased a new stake in shares of IQVIA during the 3rd quarter valued at about $312,000. Louisiana State Employees Retirement System increased its holdings in IQVIA by 27.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the medical research company’s stock worth $1,529,000 after acquiring an additional 2,100 shares in the last quarter. CWM LLC increased its holdings in IQVIA by 177.1% in the 3rd quarter. CWM LLC now owns 45,977 shares of the medical research company’s stock worth $7,247,000 after acquiring an additional 29,382 shares in the last quarter. Gateway Investment Advisers LLC purchased a new stake in IQVIA in the 3rd quarter worth approximately $209,000. Finally, Nisa Investment Advisors LLC increased its holdings in IQVIA by 1.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 16,119 shares of the medical research company’s stock worth $2,541,000 after acquiring an additional 195 shares in the last quarter. 87.15% of the stock is owned by hedge funds and other institutional investors.

About IQVIA

IQVIA Holdings Inc provides advanced analytics, technology solutions, and contract 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.

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