IQVIA (NYSE:IQV) Issues FY24 Earnings Guidance

IQVIA (NYSE:IQV) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $11.10-11.20 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

IQV has been the topic of several research analyst reports. Morgan Stanley boosted their price target on shares of IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. StockNews.com raised IQVIA from a “hold” rating to a “buy” rating in a research report on Wednesday. The Goldman Sachs Group reduced their price target on IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft dropped their price objective on IQVIA from $270.00 to $265.00 and set a “buy” rating on the stock in a report on Friday. Finally, Evercore ISI decreased their target price on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $261.24.

IQVIA Stock Performance

Shares of NYSE IQV traded up $3.34 during trading hours on Friday, hitting $209.16. 1,791,887 shares of the company’s stock were exchanged, compared to its average volume of 1,125,496. The stock has a market capitalization of $38.13 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 2.01 and a beta of 1.51. The company’s 50-day moving average price is $234.31 and its 200-day moving average price is $229.74. 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 1-year low of $181.03 and a 1-year high of $261.73.

Insider Transactions at IQVIA

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were 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 $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 available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

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.