IQVIA (NYSE:IQV) Issues FY 2024 Earnings Guidance

IQVIA (NYSE:IQV) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 11.100-11.200 for the period, compared to the consensus earnings per share estimate of 11.210. The company issued revenue guidance of $15.4 billion-$15.4 billion, compared to the consensus revenue estimate of $15.5 billion. IQVIA also updated its FY24 guidance to $11.10-11.20 EPS.

IQVIA Stock Performance

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Argus raised IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price target on shares of IQVIA from $288.00 to $279.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group cut shares of IQVIA from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $266.00 to $242.00 in a research note on Wednesday, July 24th. Morgan Stanley raised their target price on IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $270.00 target price on shares of IQVIA in a research note on Friday. Four research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.24.

Insiders Place Their Bets

In other news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by 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.