IQVIA (NYSE:IQV) Issues FY24 Earnings Guidance

IQVIA (NYSE:IQV) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $11.10-11.20 for the period, compared to the consensus EPS 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 %

Shares of IQV stock traded up $3.34 during midday trading on Friday, reaching $209.16. 1,791,887 shares of the stock were exchanged, compared to its average volume of 1,125,496. The firm has a market cap of $38.13 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 2.01 and a beta of 1.51. The company has a current ratio of 0.81, a quick ratio of 0.85 and a debt-to-equity ratio of 1.76. The company’s 50 day moving average is $234.31 and its two-hundred day moving average is $229.74. IQVIA has a 1 year low of $181.03 and a 1 year high of $261.73.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Robert W. Baird dropped their target price on shares of IQVIA from $256.00 to $223.00 and set a “neutral” rating on the stock in a report on Friday. Argus upgraded shares of IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. Barclays lowered their target price on shares of IQVIA from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Friday. Morgan Stanley upped their price target on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, UBS Group boosted their target price on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Four 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 stock. According to data from MarketBeat.com, IQVIA has a consensus rating of “Moderate Buy” and an average target price of $261.24.

Insider Transactions at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction that occurred 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 owns 19,536 shares in the company, valued at approximately $4,812,302.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.