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.

IQVIA Stock Down 7.9 %

IQV stock opened at $199.00 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80. The firm’s 50-day simple moving average is $235.88 and its 200 day simple moving average is $230.06. The stock has a market cap of $36.28 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 2.09 and a beta of 1.49. IQVIA has a fifty-two week low of $167.42 and a fifty-two week high of $261.73.

Wall Street Analyst Weigh In

Several analysts recently commented on IQV shares. Jefferies Financial Group lowered shares of IQVIA from a “buy” rating to a “hold” rating and cut their target price for the company from $266.00 to $242.00 in a research note on Wednesday, July 24th. Royal Bank of Canada started coverage on shares of IQVIA in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 price target for the company. Truist Financial lowered their target price on IQVIA from $300.00 to $286.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Morgan Stanley lifted their price objective on shares of IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, UBS Group upped their target price on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $267.27.

Insider Activity

In related news, insider Eric Sherbet sold 1,300 shares of the business’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 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 legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company 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.