IQVIA (NYSE:IQV) Updates FY24 Earnings Guidance

IQVIA (NYSE:IQV) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $11.10-11.30 for the period, compared to the consensus earnings per share estimate of $11.08. The company issued revenue guidance of $15.43-15.53 billion, compared to the consensus revenue estimate of $15.46 billion. IQVIA also updated its FY 2024 guidance to 11.100-11.300 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Evercore ISI upped their target price on shares of IQVIA from $230.00 to $270.00 and gave the company an outperform rating in a research note on Tuesday. Robert W. Baird increased their target price on shares of IQVIA from $235.00 to $251.00 and gave the company a neutral rating in a research note on Tuesday. Jefferies Financial Group lowered IQVIA from a buy rating to a hold rating and lowered their price target for the company from $266.00 to $242.00 in a research note on Wednesday. UBS Group raised their price objective on IQVIA from $295.00 to $300.00 and gave the stock a buy rating in a research report on Tuesday. Finally, Morgan Stanley boosted their price objective on IQVIA from $270.00 to $280.00 and gave the company an overweight rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, IQVIA currently has an average rating of Moderate Buy and a consensus target price of $263.56.

IQVIA Stock Performance

Shares of NYSE:IQV opened at $238.80 on Wednesday. IQVIA has a twelve month low of $167.42 and a twelve month high of $261.73. The firm has a market cap of $43.51 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 2.25 and a beta of 1.49. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.88 and a current ratio of 0.85. The business has a fifty day moving average of $220.01 and a 200-day moving average of $229.21.

IQVIA (NYSE:IQV) last released its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.22 earnings per share. On average, equities research analysts predict that IQVIA will post 10.11 EPS for the current fiscal year.

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.