IQVIA (NYSE:IQV) Issues Quarterly Earnings Results

IQVIA (NYSE:IQV) issued its quarterly earnings results on Monday. The medical research company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.07, RTT News reports. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the company posted $2.22 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. IQVIA updated its FY 2024 guidance to 11.100-11.300 EPS and its FY24 guidance to $11.10-11.30 EPS.

IQVIA Stock Up 0.1 %

Shares of NYSE:IQV traded up $0.26 during trading on Wednesday, hitting $239.05. The stock had a trading volume of 1,074,977 shares, compared to its average volume of 1,082,351. The company has a market capitalization of $43.55 billion, a PE ratio of 32.62, a PEG ratio of 2.25 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 0.85 and a debt-to-equity ratio of 1.80. The firm’s fifty day moving average is $220.01 and its 200 day moving average is $229.21. IQVIA has a 12 month low of $167.42 and a 12 month high of $261.73.

Analysts Set New Price Targets

IQV has been the subject of several research analyst reports. Truist Financial lifted their price target on IQVIA from $292.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Financial Group cut shares of IQVIA from a “buy” rating to a “hold” rating and cut their target price for the stock from $266.00 to $242.00 in a report on Wednesday. Robert W. Baird upped their price target on shares of IQVIA from $235.00 to $251.00 and gave the company a “neutral” rating in a report on Tuesday. Evercore ISI raised their price target on shares of IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, The Goldman Sachs Group started coverage on shares of IQVIA in a research note on Thursday, June 6th. They set a “buy” rating and a $270.00 price objective for the company. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $263.56.

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.