IQVIA (NYSE:IQV) Releases FY 2024 Earnings Guidance

IQVIA (NYSE:IQV - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

IQVIA Stock Down 4.7 %

IQV stock traded down $10.22 during trading on Thursday, reaching $205.82. 3,250,079 shares of the company traded hands, compared to its average volume of 1,084,073. IQVIA has a 12 month low of $167.42 and a 12 month high of $261.73. The business has a 50 day simple moving average of $235.88 and a 200 day simple moving average of $230.06. The company has a market capitalization of $37.52 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.09 and a beta of 1.49. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85.

Analysts Set New Price Targets

IQV has been the topic of a number of recent research reports. Jefferies Financial Group downgraded IQVIA from a "buy" rating to a "hold" rating and dropped their price objective for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price objective on IQVIA from $288.00 to $279.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Truist Financial decreased their price target on IQVIA from $300.00 to $286.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Robert W. Baird increased their price target on IQVIA from $251.00 to $256.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Finally, UBS Group increased their price target on IQVIA from $295.00 to $300.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, IQVIA currently has an average rating of "Moderate Buy" and an average target price of $267.27.

Insider Transactions at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction that occurred on 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 directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company's stock.

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.