IQVIA (NYSE:IQV) Issues FY 2024 Earnings Guidance

IQVIA (NYSE:IQV - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 10.950-11.250 for the period, compared to the consensus EPS estimate of 11.110. The company issued revenue guidance of $15.3 billion-$15.6 billion, compared to the consensus revenue estimate of $15.5 billion.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. SVB Leerink initiated coverage on IQVIA in a report on Monday, February 26th. They issued an outperform rating and a $290.00 price objective for the company. Guggenheim cut IQVIA from a buy rating to a neutral rating in a research report on Thursday, February 15th. Evercore ISI lowered their target price on IQVIA from $275.00 to $250.00 and set an outperform rating on the stock in a report on Friday. UBS Group raised their price objective on shares of IQVIA from $240.00 to $300.00 and gave the company a buy rating in a research report on Thursday, February 15th. Finally, Barclays upped their price target on IQVIA from $260.00 to $265.00 and gave the company an overweight rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, IQVIA has a consensus rating of Moderate Buy and an average target price of $257.57.

IQVIA Stock Up 0.6 %

Shares of NYSE:IQV traded up $1.25 during trading on Friday, reaching $223.39. 1,052,927 shares of the company traded hands, compared to its average volume of 973,998. The firm has a fifty day simple moving average of $244.56 and a 200 day simple moving average of $223.84. 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 1-year low of $167.42 and a 1-year high of $261.73. The firm has a market cap of $40.55 billion, a P/E ratio of 30.64, a price-to-earnings-growth ratio of 2.25 and a beta of 1.52.

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

Insider Activity at IQVIA

In other IQVIA news, insider Kevin C. Knightly sold 8,607 shares of the business'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 sale, the insider now directly owns 5,251 shares of the company's stock, valued at $1,313,642.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kevin C. Knightly sold 8,607 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now owns 5,251 shares in the company, valued at approximately $1,313,642.67. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ari Bousbib sold 31,678 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now directly owns 796,752 shares in the company, valued at $199,610,278.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,285 shares of company stock valued at $10,331,003. 1.60% of the stock is currently owned by corporate 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.