IQVIA (NYSE:IQV) Issues FY24 Earnings Guidance

IQVIA (NYSE:IQV) updated its FY24 earnings guidance on Thursday. 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.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Leerink Partnrs restated an outperform rating on shares of IQVIA in a report on Monday, February 26th. Robert W. Baird increased their price target on IQVIA from $226.00 to $251.00 and gave the company a neutral rating in a report on Thursday, February 15th. UBS Group increased their price target on IQVIA from $240.00 to $300.00 and gave the company a buy rating in a report on Thursday, February 15th. Barclays increased their price target on IQVIA from $260.00 to $265.00 and gave the company an overweight rating in a report on Thursday, February 15th. Finally, Evercore ISI increased their target price on IQVIA from $255.00 to $265.00 and gave the stock a market outperform rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, IQVIA presently has an average rating of Moderate Buy and a consensus target price of $259.43.

IQVIA Stock Up 0.5 %

Shares of IQV stock opened at $232.89 on Thursday. The stock has a 50 day moving average of $245.07 and a 200 day moving average of $223.85. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.12. The stock has a market cap of $42.27 billion, a P/E ratio of 31.95, a P/E/G ratio of 2.24 and a beta of 1.52. 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 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.80 billion. IQVIA had a return on equity of 29.32% and a net margin of 9.06%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.54 earnings per share. As a group, sell-side analysts expect that IQVIA will post 10.12 EPS for the current year.

Insider Transactions 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 stock was sold at an average price of $250.53, for a total value of $7,936,289.34. Following the sale, the insider now directly owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the business’s stock in a transaction 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 transaction, the insider now owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin C. Knightly sold 8,607 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total value of $2,153,213.19. Following the completion of the transaction, the insider now directly owns 5,251 shares in the company, valued at approximately $1,313,642.67. The disclosure for this sale can be found here. Insiders have sold 41,285 shares of company stock valued at $10,331,003 over the last ninety days. Insiders own 1.60% of the company’s stock.

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.