IQVIA (NYSE:IQV) Updates FY24 Earnings Guidance

IQVIA (NYSE:IQV) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $10.95-11.25 for the period, compared to the consensus EPS 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.

IQVIA Stock Up 0.6 %

Shares of IQV traded up $1.23 during trading on Friday, reaching $223.37. The company’s stock had a trading volume of 1,052,929 shares, compared to its average volume of 831,136. The company has a fifty day moving average of $244.08 and a two-hundred day moving average of $224.01. IQVIA has a twelve month low of $167.42 and a twelve month high of $261.73. The company has a market cap of $40.54 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 2.16 and a beta of 1.52. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 2.02.

IQVIA (NYSE:IQV) last announced its earnings results on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.80 billion. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. IQVIA’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 EPS. On average, sell-side analysts predict that IQVIA will post 10.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IQV. StockNews.com upgraded IQVIA from a hold rating to a buy rating in a research note on Friday, February 16th. Robert W. Baird lowered their price objective on IQVIA from $254.00 to $245.00 and set a neutral rating for the company in a research note on Friday. Truist Financial lowered their price objective on IQVIA from $297.00 to $292.00 and set a buy rating for the company in a research note on Friday. Evercore ISI lowered their price objective on IQVIA from $275.00 to $250.00 and set an outperform rating for the company in a research note on Friday. Finally, SVB Leerink began coverage on IQVIA in a research note on Monday, February 26th. They set an outperform rating and a $290.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $257.57.

Insider Activity at IQVIA

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

About IQVIA

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.