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IQVIA Holdings Inc IQV

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IQVIA Exceeds Expectations With Robust Q3 Results; Raising FVE to $276 on Improved Near-Term Outlook

Rachel Elfman Equity Analyst

Analyst Note

| Rachel Elfman |

IQVIA reported robust third-quarter results highlighted by revenue of $3.4 billion, representing a 22% increase year over year. The company has continued to recover well from pandemic-related challenges, even despite a resurgence of cases from the delta variant. As a result, management raised its guidance for the year. We’ve increased our fair value estimate to $276 per share from $231 because of stronger-than-expected near-term revenue growth. We maintain our narrow moat and stable moat trend ratings.

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Company Profile

Business Description

IQVIA is the result of the 2016 merger of Quintiles, a leading global contract research organization, and IMS Health, a leading healthcare data and analytics provider. The Research & Development segment focuses primarily on providing outsourced late-stage clinical trials for pharmaceutical, device, and diagnostic firms. The Technology & Analytics segment provides aggregated information and technology services to clients in the healthcare industry, including pharmaceutical companies, providers, payers, and policymakers, as well as data and analytics capabilities for clinical trials, including virtual trials. The company also has a small contract sales business.

4820 Emperor Boulevard
Durham, NC, 27703
T +1 919 998-2000
Sector Healthcare
Industry Diagnostics & Research
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Slow Growth
Employees 77,000