IQVIA (NYSE:IQV) Shares Gap Up Following Better-Than-Expected Earnings

IQVIA Holdings Inc. (NYSE:IQV - Get Free Report) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $158.96, but opened at $171.33. IQVIA shares last traded at $183.30, with a volume of 572,024 shares changing hands.

The medical research company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.04. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $2.64 earnings per share.

Analyst Ratings Changes

A number of equities analysts have commented on IQV shares. Robert W. Baird lifted their target price on shares of IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of IQVIA from $232.00 to $177.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Citigroup reiterated a "neutral" rating on shares of IQVIA in a research report on Thursday, May 22nd. Truist Financial lifted their price target on shares of IQVIA from $209.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, HSBC cut shares of IQVIA from a "buy" rating to a "hold" rating and dropped their price target for the company from $260.00 to $160.00 in a research report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $227.64.

Institutional Trading of IQVIA

Several institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board lifted its position in shares of IQVIA by 7.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,594,831 shares of the medical research company's stock worth $810,069,000 after buying an additional 312,807 shares during the last quarter. Geode Capital Management LLC raised its position in IQVIA by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,175,524 shares of the medical research company's stock valued at $818,315,000 after purchasing an additional 77,981 shares during the last quarter. Invesco Ltd. boosted its stake in IQVIA by 53.4% during the 4th quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company's stock worth $509,012,000 after purchasing an additional 902,226 shares during the period. JPMorgan Chase & Co. increased its stake in IQVIA by 45.7% in the first quarter. JPMorgan Chase & Co. now owns 2,545,014 shares of the medical research company's stock valued at $448,686,000 after purchasing an additional 798,534 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in IQVIA by 2.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438,726 shares of the medical research company's stock valued at $481,380,000 after purchasing an additional 59,426 shares during the period. Hedge funds and other institutional investors own 89.62% of the company's stock.

IQVIA Trading Up 3.5%

The company has a debt-to-equity ratio of 2.45, a current ratio of 0.84 and a quick ratio of 0.82. The company has a market capitalization of $34.78 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 2.21 and a beta of 1.30. The business's 50 day simple moving average is $154.75 and its 200 day simple moving average is $170.52.

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.