Wall Street analysts expect Iqvia Holdings Inc (NYSE:IQV) to announce $2.58 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Iqvia’s earnings. The lowest sales estimate is $2.57 billion and the highest is $2.59 billion. Iqvia posted sales of $2.02 billion in the same quarter last year, which would indicate a positive year over year growth rate of 27.7%. The business is expected to report its next earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Iqvia will report full year sales of $10.35 billion for the current financial year, with estimates ranging from $10.21 billion to $10.44 billion. For the next financial year, analysts forecast that the firm will report sales of $10.92 billion per share, with estimates ranging from $10.78 billion to $11.01 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Iqvia.
Iqvia (NYSE:IQV) last announced its earnings results on Tuesday, July 24th. The medical research company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.15. Iqvia had a return on equity of 13.51% and a net margin of 12.68%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.50 billion. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year.
A number of research analysts have recently issued reports on the company. Raymond James increased their target price on Iqvia from $136.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, August 31st. Argus set a $136.00 target price on Iqvia and gave the company a “buy” rating in a research report on Thursday, August 23rd. Zacks Investment Research lowered Iqvia from a “buy” rating to a “hold” rating in a research report on Monday, August 20th. Wells Fargo & Co increased their target price on Iqvia from $120.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, August 13th. Finally, Mizuho set a $120.00 target price on Iqvia and gave the company a “hold” rating in a research report on Monday, August 6th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $126.79.
In other Iqvia news, Director John Connaughton sold 1,441,236 shares of the firm’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $103.00, for a total value of $148,447,308.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cpp Investment Board Private H sold 9,291,036 shares of the firm’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $103.00, for a total value of $956,976,708.00. The disclosure for this sale can be found here. Insiders sold a total of 11,201,623 shares of company stock worth $1,160,990,595 in the last 90 days. 6.00% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Private Capital Group LLC lifted its holdings in Iqvia by 177.0% in the 1st quarter. Private Capital Group LLC now owns 1,061 shares of the medical research company’s stock valued at $104,000 after purchasing an additional 678 shares in the last quarter. Cutler Group LP lifted its holdings in Iqvia by 173.3% in the 2nd quarter. Cutler Group LP now owns 1,100 shares of the medical research company’s stock valued at $109,000 after purchasing an additional 2,600 shares in the last quarter. Townsend & Associates Inc purchased a new position in Iqvia in the 2nd quarter valued at $117,000. Fort L.P. purchased a new position in Iqvia in the 2nd quarter valued at $118,000. Finally, Point72 Asia Hong Kong Ltd purchased a new position in Iqvia in the 1st quarter valued at $124,000. Institutional investors own 91.98% of the company’s stock.
Shares of NYSE:IQV traded up $0.14 during midday trading on Friday, reaching $127.02. 991,000 shares of the company’s stock traded hands, compared to its average volume of 1,258,888. Iqvia has a 1 year low of $91.57 and a 1 year high of $128.40. The firm has a market capitalization of $25.52 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 1.81 and a beta of 0.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.13 and a quick ratio of 1.13.
IQVIA Holdings Inc provides integrated information and technology-enabled healthcare services in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Commercial Solutions, Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offers a range of cloud-based applications and related implementation, real-world insights, and reference information services; and strategic and implementation consulting services, such as advanced analytics and commercial processes outsourcing services.
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