- IQVIA Holdings ( NYSE: IQV ) has traded as much as 3% down in Friday trading after releasing 2023 guidance figures after Thursday's closing bell that came in below consensus estimates.
- In 2023, the analytics and clinical research services provider is projecting revenue of between $15.15B and $15.4B ($15.41B consensus). Adjusted diluted EPS is expected to be between $10.26 and $10.56 ($10.71 consensus).
- IQVIA's Q4 2022 results did beat on the top and bottom lines .
- Evercore ISI's Elizabeth Anderson, who rates the company at outperform, boosted her price target to $260 from $230 (~13% upside based on Thursday's close).
- She added she expects EPS growth to return to normal in 2024.
- Cowen's Charles Rhyee, who also has an outperform rating, noted that without factoring in foreign exchange rates, interest rates and a U.K. corporate tax hike, adjusted "EPS growth would be 11%-14%, indicating strong operational expectations."
- Read why Seeking Alpha contributor Zach Bristow rates IQVIA ( IQV ) a buy.
For further details see:
IQVIA down despite quarterly beats on soft 2023 guidance