Clinical research company IQVIA (NYSE: IQV) will be reporting earnings this Tuesday before the bell. Here’s what you need to know.
IQVIA beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $3.83 billion, up 2.5% year on year. It was a strong quarter for the company, with full-year revenue guidance beating analysts’ expectations and a solid beat of analysts’ constant currency revenue estimates.
Is IQVIA a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting IQVIA’s revenue to grow 4.1% year on year to $3.97 billion, improving from the 2.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.77 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 7 downward revisions over the last 30 days (we track 16 analysts). IQVIA has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.8% on average.
With IQVIA being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for life sciences tools & services stocks. However, the whole sector has been hit hard over the last month as stocks in IQVIA’s peer group are down 2.3% on average. IQVIA is up 3.5% during the same time and is heading into earnings with an average analyst price target of $190.67 (compared to the current share price of $160.63).
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