IQVIA (NYSE:IQV - Get Free Report) issued its earnings results on Monday. The medical research company reported $2.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.57 by $0.07, RTT News reports. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The business had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $3.79 billion. During the same period in the previous year, the firm posted $2.22 EPS. The company's quarterly revenue was up 2.3% on a year-over-year basis. IQVIA updated its FY 2024 guidance to 11.100-11.300 EPS and its FY24 guidance to $11.10-11.30 EPS.
IQVIA Trading Up 9.2 %
Shares of NYSE IQV opened at $245.23 on Tuesday. The stock has a market cap of $44.68 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 2.06 and a beta of 1.49. The business has a 50 day simple moving average of $219.86 and a 200 day simple moving average of $229.08. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.88 and a current ratio of 0.88. IQVIA has a 52 week low of $167.42 and a 52 week high of $261.73.
Wall Street Analyst Weigh In
Several analysts have issued reports on IQV shares. Robert W. Baird cut their price objective on IQVIA from $241.00 to $235.00 and set a "neutral" rating on the stock in a report on Wednesday, July 10th. Barclays cut their price target on shares of IQVIA from $275.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, June 28th. Evercore ISI decreased their price objective on shares of IQVIA from $250.00 to $230.00 and set an "outperform" rating for the company in a research note on Tuesday, July 9th. The Goldman Sachs Group started coverage on shares of IQVIA in a research note on Thursday, June 6th. They set a "buy" rating and a $270.00 target price on the stock. Finally, StockNews.com raised IQVIA from a "hold" rating to a "buy" rating in a research report on Monday, July 15th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.73.
View Our Latest Research Report on IQV
About IQVIA
(Get Free Report)
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.
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