IQVIA (NYSE:IQV) Issues 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.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IQV. Guggenheim cut IQVIA from a buy rating to a neutral rating in a research report on Thursday, February 15th. Truist Financial increased their price objective on IQVIA from $286.00 to $297.00 and gave the stock a buy rating in a research note on Tuesday, February 27th. SVB Leerink initiated coverage on IQVIA in a research note on Monday, February 26th. They issued an outperform rating and a $290.00 target price for the company. BTIG Research started coverage on IQVIA in a research note on Tuesday, February 13th. They issued a buy rating and a $285.00 target price for the company. Finally, StockNews.com upgraded IQVIA from a hold rating to a buy rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $259.43.

IQVIA Trading Up 0.5 %

NYSE:IQV opened at $232.89 on Thursday. IQVIA has a fifty-two week low of $167.42 and a fifty-two week high of $261.73. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $42.27 billion, a PE ratio of 31.95, a price-to-earnings-growth ratio of 2.24 and a beta of 1.52. The business’s 50-day simple moving average is $245.07 and its 200-day simple moving average is $223.85.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.02. IQVIA had a return on equity of 29.32% and a net margin of 9.06%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter in the previous year, the business posted $2.54 EPS. IQVIA’s revenue for the quarter was up 3.5% on a year-over-year basis. Sell-side analysts expect that IQVIA will post 10.12 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kevin C. Knightly sold 8,607 shares of IQVIA stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the transaction, the insider now owns 5,251 shares in the company, valued at approximately $1,313,642.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Eric Sherbet sold 1,000 shares of the firm’s stock in a transaction 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 owns 20,836 shares of the company’s stock, valued at $5,031,894. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin C. Knightly sold 8,607 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the completion of the transaction, the insider now directly owns 5,251 shares of the company’s stock, 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 worth $10,331,003 in the last 90 days. Corporate 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.