IQVIA (NYSE:IQV) Updates FY24 Earnings Guidance

IQVIA (NYSE:IQV - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $10.95-11.25 for the period, compared to the consensus 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 Stock Down 4.6 %

NYSE IQV traded down $10.80 during trading hours on Thursday, hitting $222.14. 1,697,673 shares of the company were exchanged, compared to its average volume of 973,070. The company has a 50 day moving average of $245.07 and a two-hundred day moving average of $223.85. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 2.12. IQVIA has a 52-week low of $167.42 and a 52-week high of $261.73. The firm has a market cap of $40.32 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.24 and a beta of 1.52.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The medical research company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.02. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.80 billion. IQVIA had a return on equity of 29.32% and a net margin of 9.06%. IQVIA's revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.54 EPS. Equities research analysts anticipate that IQVIA will post 10.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IQV shares. Evercore ISI upped their price objective on IQVIA from $255.00 to $265.00 and gave the stock a market outperform rating in a research report on Thursday, February 15th. BTIG Research began coverage on IQVIA in a research report on Tuesday, February 13th. They set a buy rating and a $285.00 price objective for the company. Robert W. Baird upped their target price on IQVIA from $226.00 to $251.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Barclays upped their target price on IQVIA from $260.00 to $265.00 and gave the company an overweight rating in a research report on Thursday, February 15th. Finally, SVB Leerink began coverage on IQVIA in a research report on Monday, February 26th. They issued an outperform rating and a $290.00 target price for the company. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $259.43.

Insiders Place Their Bets

In other news, insider Ari Bousbib sold 31,678 shares of the 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 completion of the transaction, 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 document filed with the SEC, which is accessible through this link. In related news, insider Ari Bousbib sold 31,678 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $250.53, for a total value of $7,936,289.34. Following the completion of the transaction, the insider now directly owns 796,752 shares of the company's stock, valued at approximately $199,610,278.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin C. Knightly sold 8,607 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total value 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 $1,313,642.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,285 shares of company stock valued at $10,331,003. 1.60% of the stock is owned by company insiders.

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.