$2.69 Billion in Sales Expected for Iqvia Holdings Inc (NYSE:IQV) This Quarter

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Brokerages expect that Iqvia Holdings Inc (NYSE:IQV) will report $2.69 billion in sales for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Iqvia’s earnings, with the highest sales estimate coming in at $2.71 billion and the lowest estimate coming in at $2.69 billion. Iqvia reported sales of $2.57 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The business is scheduled to announce its next earnings results on Tuesday, July 23rd.

According to Zacks, analysts expect that Iqvia will report full year sales of $11.01 billion for the current fiscal year, with estimates ranging from $10.96 billion to $11.06 billion. For the next financial year, analysts expect that the firm will report sales of $11.71 billion, with estimates ranging from $11.58 billion to $11.80 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Iqvia.

Iqvia (NYSE:IQV) last released its quarterly earnings data on Wednesday, May 1st. The medical research company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.12. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Iqvia had a net margin of 2.35% and a return on equity of 15.08%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 earnings per share.

Several research firms have commented on IQV. Mizuho increased their price target on shares of Iqvia from $145.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday. Morgan Stanley increased their price target on shares of Iqvia from $156.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday. Credit Suisse Group reissued an “outperform” rating and set a $165.00 price target (up from $159.00) on shares of Iqvia in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of Iqvia in a research report on Wednesday. Finally, Stifel Nicolaus increased their price target on shares of Iqvia from $167.00 to $178.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Iqvia currently has a consensus rating of “Buy” and a consensus target price of $152.34.

In related news, Director Michael J. Evanisko sold 1,193 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $144.95, for a total value of $172,925.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ari Bousbib sold 96,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $140.96, for a total transaction of $13,532,160.00. The disclosure for this sale can be found here. Insiders sold a total of 143,273 shares of company stock valued at $20,066,890 over the last ninety days. 6.00% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in IQV. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Iqvia by 7.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,251 shares of the medical research company’s stock worth $1,331,000 after buying an additional 608 shares during the period. Advisory Services Network LLC increased its holdings in Iqvia by 37.4% in the 4th quarter. Advisory Services Network LLC now owns 5,825 shares of the medical research company’s stock worth $677,000 after buying an additional 1,587 shares during the period. GYL Financial Synergies LLC acquired a new position in Iqvia in the 1st quarter worth approximately $4,349,000. MUFG Securities EMEA plc increased its holdings in Iqvia by 2,517.2% in the 4th quarter. MUFG Securities EMEA plc now owns 115,000 shares of the medical research company’s stock worth $13,360,000 after buying an additional 110,606 shares during the period. Finally, Globeflex Capital L P increased its holdings in Iqvia by 96.6% in the 1st quarter. Globeflex Capital L P now owns 10,784 shares of the medical research company’s stock worth $1,551,000 after buying an additional 5,299 shares during the period. 89.69% of the stock is owned by hedge funds and other institutional investors.

Shares of IQV stock traded up $9.09 during mid-day trading on Wednesday, hitting $154.75. 2,953,112 shares of the stock traded hands, compared to its average volume of 1,117,235. The firm has a market cap of $27.90 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 1.72 and a beta of 0.77. Iqvia has a 52-week low of $97.64 and a 52-week high of $146.49. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.14 and a current ratio of 1.14.

Iqvia Company Profile

IQVIA Holdings Inc provides advanced analytics, technology solutions, and contract 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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