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 (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 %

Shares of NYSE IQV traded up $3.34 during midday trading on Friday, hitting $209.16. 1,791,887 shares of the stock traded hands, compared to its average volume of 1,125,496. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.85 and a current ratio of 0.81. IQVIA has a one year low of $181.03 and a one year high of $261.73. The business has a 50 day moving average price of $234.31 and a two-hundred day moving average price of $229.74. The company has a market cap of $38.13 billion, a PE ratio of 27.45, a P/E/G ratio of 2.01 and a beta of 1.51.

Analysts Set New Price Targets

IQV has been the topic of several research reports. 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 on the stock in a report on Friday. The Goldman Sachs Group cut their price target on IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a research note on Friday. Morgan Stanley increased their price objective 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 lifted their target price on IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $261.24.

Insider Buying and Selling

In related news, insider Eric Sherbet sold 1,300 shares of IQVIA 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 of the company’s stock, valued at approximately $4,812,302.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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.