IQVIA (NYSE:IQV) Issues 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 Trading Up 0.6 %

Shares of NYSE:IQV traded up $1.23 during midday trading on Friday, hitting $223.37. 1,052,929 shares of the stock were exchanged, compared to its average volume of 831,136. The business’s 50-day moving average price is $244.08 and its 200 day moving average price is $224.01. The stock has a market capitalization 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. IQVIA has a 12 month low of $167.42 and a 12 month high of $261.73. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.86 and a current ratio of 0.88.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.02. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.80 billion. IQVIA had a net margin of 9.01% and a return on equity of 29.17%. The company’s 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. Analysts predict that IQVIA will post 10.12 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IQV. Leerink Partnrs reaffirmed an outperform rating on shares of IQVIA in a research note on Monday, February 26th. SVB Leerink initiated coverage on shares of IQVIA in a research note on Monday, February 26th. They issued an outperform rating and a $290.00 price objective on the stock. BTIG Research started coverage on shares of IQVIA in a research note on Tuesday, February 13th. They set a buy rating and a $285.00 target price for the company. StockNews.com raised shares of IQVIA from a hold rating to a buy rating in a research report on Friday, February 16th. Finally, 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 report on Friday. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, IQVIA presently has an average rating of Moderate Buy and a consensus price target of $257.57.

Insider Buying and Selling

In related 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were 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 approximately $199,610,278.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin C. Knightly sold 8,607 shares of IQVIA stock in a transaction that occurred on 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 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 worth $10,331,003 in the last quarter. 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.