IQV
IQVIA Holdings Inc
TMT
02/05/2020
Presented
| Date | 01/30/2020 |
| Price | $157.00 |
| Market Cap | $30.46B |
| Ent Value | $41.16B |
| P/E Ratio | 129.62x |
| Book Value | $31.60 |
| Div Yield | 0% |
| Shares O/S | 194.04M |
| Ave Daily Vol | 1,256,821 |
| Short Int | 1.86% |
Current
| Price | $232.98 |
| Market Cap | $42.47B |
| IQVIA Holdings Inc. provides advanced analytics, technology solutions, and contract research services to the life sciences industry in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions. The Technology & Analytics 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. This segment also provides country level performance metrics related to sales of pharmaceutical products, prescribing trends, medical treatment, and promotional activity across various channels, including retail, hospital, and mail order to life science companies, and investment and financial sectors that deal with life science companies; and measurement of sales or prescribing activity at the regional, zip code, and individual prescriber level to pharmaceutical sales organizations. The Research & Development Solutions segment offers biopharmaceutical development services comprising project management and clinical monitoring, clinical trial support, and strategic planning and design services, as well as clinical trial, genomic, and bioanalytical laboratory services. The Contract Sales & Medical Solutions segment provides health care provider and patient engagement services, and scientific strategy and medical affairs services. IQVIA Holdings Inc. serves pharmaceutical, biotechnology, device and diagnostic, and consumer health companies. The company was formerly known as Quintiles IMS Holdings, Inc. and changed its name to IQVIA Holdings Inc. in November 2017. IQVIA Holdings Inc. was founded in 1982 and is headquartered in Durham, North Carolina. |
Publicly traded companies mentioned herein: AstraZeneca plc (AZN LN), IQVIA Holdings Inc (IQV), Roche Holding AG (ROG SW), Veeva Systems Inc (VEEV)
Highlights
The presenter is long shares of IQVIA Holdings Inc (IQV). IQV is the result of a 2016 merger between Quintiles and IMS Health. For a few years following the merger, Quintiles slightly lagged the market in terms of market share. Recently, Quintiles has seen a meaningful acceleration in bookings and at IMS there has been a meaningful acceleration in data monetization. This is happening because clinical research outfits and pharmaceutical companies are seeing the value of this data. The company’s top line is currently growing 5% - 6%, but based on the acceleration in bookings and data monetization the presenter believes the top line will begin to exhibit high-single digit growth. He also sees some optionality as IQV begins to combine software tools with their data and starts to gain customer traction at scale. The company is ~3x levered, reflecting the merger, and is seeing mid-teens earnings growth. It currently trades at 22x this year's earnings and 19x next year’s.
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