Clinical research company IQVIA (NYSE: IQV) will be reporting results this Tuesday before the bell. Here’s what you need to know.
IQVIA beat analysts’ revenue expectations last quarter, reporting revenues of $4.36 billion, up 10.3% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ revenue estimates but a miss of analysts’ full-year EPS guidance estimates.
Is IQVIA a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting IQVIA’s revenue to grow 7.2% year on year, improving from the 2.5% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. IQVIA has a history of exceeding Wall Street’s expectations.
Looking at IQVIA’s peers in the life sciences tools & services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. West Pharmaceutical Services delivered year-on-year revenue growth of 21%, beating analysts’ expectations by 8.4%, and Medpace reported revenues up 26.5%, topping estimates by 1.5%. West Pharmaceutical Services traded up 11.6% following the results while Medpace was down 22.6%.
Read our full analysis of West Pharmaceutical Services’s results here and Medpace’s results here.
There has been positive sentiment among investors in the life sciences tools & services segment, with share prices up 6% on average over the last month. IQVIA is down 7.2% during the same time and is heading into earnings with an average analyst price target of $229.60 (compared to the current share price of $157.71).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
