IQVIA (NYSE:IQV) Issues FY24 Earnings Guidance

IQVIA (NYSE:IQV) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $11.10-11.20 for the period, compared to the consensus estimate of $11.19. The company issued revenue guidance of $15.35-15.40 billion, compared to the consensus revenue estimate of $15.46 billion. IQVIA also updated its FY 2024 guidance to 11.100-11.200 EPS.

IQVIA Stock Up 1.6 %

NYSE IQV traded up $3.34 during trading hours on Friday, hitting $209.16. The company had a trading volume of 1,791,887 shares, compared to its average volume of 1,125,496. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.85. IQVIA has a fifty-two week low of $181.03 and a fifty-two week high of $261.73. The company has a market capitalization of $38.13 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 2.01 and a beta of 1.51. The firm’s 50 day moving average is $234.31 and its 200 day moving average is $229.74.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $270.00 price objective on shares of IQVIA in a report on Friday. Jefferies Financial Group downgraded shares of IQVIA from a “buy” rating to a “hold” rating and reduced their price objective for the company from $266.00 to $242.00 in a research note on Wednesday, July 24th. Morgan Stanley boosted their target price on shares of IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Evercore ISI reduced their price target on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Finally, Redburn Atlantic began coverage on IQVIA in a research note on Monday, October 14th. They set a “buy” rating and a $276.00 price objective on the stock. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.24.

Insider Transactions at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the transaction, the insider now owns 19,536 shares in the company, valued at approximately $4,812,302.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company 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.