IQVIA (NYSE:IQV) Issues FY 2024 Earnings Guidance

IQVIA (NYSE:IQV) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 11.100-11.200 for the period, compared to the consensus earnings per share estimate of 11.210. The company issued revenue guidance of $15.4 billion-$15.4 billion, compared to the consensus revenue estimate of $15.5 billion. IQVIA also updated its FY24 guidance to $11.10-11.20 EPS.

Analysts Set New Price Targets

IQV has been the topic of several recent analyst reports. Barclays cut their target price on shares of IQVIA from $260.00 to $255.00 and set an “overweight” rating on the stock 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. JPMorgan Chase & Co. dropped their target price on IQVIA from $288.00 to $279.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group cut shares of IQVIA from a “buy” rating to a “hold” rating and decreased their price target for the stock from $266.00 to $242.00 in a report on Wednesday, July 24th. Finally, Evercore ISI dropped their price objective on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $261.24.

IQVIA Stock Performance

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

Insider Activity

In related news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

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.