IQVIA (NYSE:IQV) Issues Earnings Results

Key Points

• IQVIA beat quarterly expectations: The company reported adjusted EPS of $3.34, exceeding the $3.26 consensus, while revenue reached $4.43 billion versus estimates of $4.37 billion.
• Analysts remain broadly bullish: IQVIA has a “Moderate Buy” consensus rating and a $278.75 average price target, with several firms recently raising their targets to between $305 and $345.
• Insiders have been selling shares: Insiders sold 15,581 shares worth approximately $3.8 million over the past three months, while the stock was reported down 2.0%.

IQVIA (NYSE:IQV - Get Free Report) announced its quarterly earnings data on Tuesday. The medical research company reported $3.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.08, FiscalAI reports. The business had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.37 billion. IQVIA had a net margin of 8.10% and a return on equity of 30.25%.

IQVIA Stock Down 2.0%

Shares of IQV opened at $273.80 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 2.18. The business has a fifty day moving average of $263.36 and a 200 day moving average of $209.63. The company has a market cap of $45.07 billion, a PE ratio of 33.97, a P/E/G ratio of 2.46 and a beta of 1.17. IQVIA has a 52-week low of $154.50 and a 52-week high of $282.98.

Analyst Upgrades and Downgrades

IQV has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on IQVIA from $270.00 to $305.00 in a research report on Monday, October 19th. Robert W. Baird raised their price target on IQVIA from $287.00 to $324.00 and gave the company an "outperform" rating in a report on Tuesday, September 29th. Truist Financial reaffirmed a "buy" rating and issued a $329.00 price objective (up from $300.00) on shares of IQVIA in a research note on Monday, September 28th. UBS Group initiated coverage on IQVIA in a research note on Wednesday, September 30th. They issued a "buy" rating and a $345.00 price objective on the stock. Finally, Rothschild & Co Redburn upped their price objective on IQVIA from $284.00 to $287.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $278.75.

Insider Buying and Selling at IQVIA

In other news, insider W. Richard Staub sold 5,500 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $232.68, for a total value of $1,279,740.00. Following the completion of the sale, the insider owned 13,312 shares in the company, valued at approximately $3,097,436.16. This trade represents a 29.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Sherbet sold 5,000 shares of the firm's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $249.16, for a total transaction of $1,245,800.00. Following the completion of the sale, the insider owned 20,999 shares of the company's stock, valued at $5,232,110.84. This trade represents a 19.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 15,581 shares of company stock valued at $3,796,021. Insiders own 1.70% of the company's stock.

About IQVIA

IQVIA Holdings Inc is a global provider of technology, analytics and contract research services for the life sciences industry. The company helps pharmaceutical, biotechnology and medical device organizations develop, commercialize and improve products by combining healthcare data with advanced analytics, consulting and technology-enabled services.

Its offerings include clinical research and trial management, real-world evidence, healthcare data and analytics, regulatory and safety services, technology platforms, and commercial solutions.

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