IQVIA (NYSE:IQV) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

IQVIA (NYSE:IQV) announced its earnings results on Monday. The medical research company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.07, RTT News reports. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the firm posted $2.22 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. IQVIA updated its FY 2024 guidance to 11.100-11.300 EPS and its FY24 guidance to $11.10-11.30 EPS.

IQVIA Stock Up 0.1 %

IQVIA stock traded up $0.26 during midday trading on Wednesday, hitting $239.05. 1,074,977 shares of the company’s stock were exchanged, compared to its average volume of 1,082,351. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.88 and a current ratio of 0.85. IQVIA has a 12 month low of $167.42 and a 12 month high of $261.73. The firm has a 50-day moving average of $220.01 and a two-hundred day moving average of $229.21. The company has a market cap of $43.55 billion, a PE ratio of 32.62, a P/E/G ratio of 2.25 and a beta of 1.49.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Evercore ISI increased their target price on shares of IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group started coverage on shares of IQVIA in a report on Thursday, June 6th. They issued a “buy” rating and a $270.00 price target on the stock. Truist Financial upped their price target on shares of IQVIA from $292.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays upped their price target on shares of IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Morgan Stanley upped their price target on shares of IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $263.56.

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.