I I F ■ F Matteo Colombo Investment update Following my May publication on IQVIA Holdings Inc. (NYSE:IQV) the stock is +5%, marking a 28% return since I first rated the business investment-grade back in Jan '21. This is a business I know tremendously well, having analyzed its credentials for more than 3 years and owned the stock for our equity budget for that entire duration. In the five publications I've made on IQV here on SA since then, my views have not changed on this long-term compounder. Following it ...

Core Insights - IQVIA Holdings Inc. (IQV) shares have increased by 12% over the past year, outperforming the industry growth of 10% [1] - The company has a projected long-term EPS growth rate of 10.4%, with anticipated earnings growth of 9.5% for 2024 and 11% for 2025 [1] Financial Performance - The Technology & Analytics Solutions (TAS) segment saw a 4% revenue increase in Q2 2024, excluding COVID-19 impacts and foreign exchange effects, with expected TAS revenue growth of 6-7% for the second half of the year [2] - R&D Solutions (R&DS) recorded new bookings of approximately $2.7 billion and a record backlog of $30.6 billion, indicating strong future revenue potential [3] - Management expects total revenues for Q3 2024 to be between $3.83 billion and $3.88 billion, and for full-year 2024 to be in the range of $15.4 billion to $15.5 billion [4] - EPS for Q3 2024 is anticipated to range between $2.76 and $2.86 per share [4] Strategic Initiatives - The company is investing in AI and machine learning, leading to market-leading solutions that enhance operational efficiency and client engagement [5] - In Q2 2024, IQVIA contracted with a top 20 client to expand its commercial technology ecosystem, integrating AI and ML offerings into the client's infrastructure for better data management [6] Operational Challenges - The company faces challenges due to large pharmaceutical companies implementing cost-cutting measures, affecting pricing negotiations in both commercial and R&DS segments [6] - Operating expenses increased to $509 million in Q2 2024 from $482 million in Q2 2023, indicating rising costs [7] - The current ratio was 0.84 at the end of Q2 2024, suggesting potential difficulties in meeting short-term obligations [8]

In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and growth journey. Investors must understand a company's dependence on overseas markets, as this offers a window into the company's earnings stability, its ability to benefit from varied economic cycles and its potential for long-term growth. Participation in global economies acts as a defense against economic difficulties at home and a pathway ...

Core Viewpoint - Investors are evaluating IQVIA Holdings (IQV) and Waters (WAT) for potential undervalued stock opportunities, with IQV currently appearing as the more favorable option based on various valuation metrics [1]. Valuation Metrics - IQV has a forward P/E ratio of 22.16, while WAT has a higher forward P/E of 25.97, indicating that IQV may be more attractively priced [3]. - The PEG ratio for IQV is 2.05, compared to WAT's PEG ratio of 4.90, suggesting that IQV's expected earnings growth is more reasonably priced [3]. - IQV holds a Value grade of B, while WAT has a Value grade of D, reflecting stronger estimate revision activity and more attractive valuation metrics for IQV [4]. Zacks Rank and Style Scores - IQV has a Zacks Rank of 2 (Buy), indicating a positive earnings estimate revision trend, while WAT has a Zacks Rank of 4 (Sell) [2]. - The Zacks Rank system favors stocks with strong earnings estimate revisions, and combining this with a strong Value grade can help identify great value stocks [5]. Additional Valuation Comparisons - IQV's P/B ratio is 6.65, significantly lower than WAT's P/B ratio of 14.50, further indicating that IQV may be undervalued relative to its book value [6]. - The Value category of the Style Scores system utilizes various metrics, including P/E ratio, P/S ratio, earnings yield, and cash flow per share, to assess a company's fair value [7].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________ _________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-35907 _____________________________________________________ ...

Life sciences clinical researcher IQVIA's second-quarter results beat analysts' expectations for revenue and net income. The company also raised its full-year guidance. IQVIA said its technology and analytics products were major growth drivers. IQVIA's stock rose nearly 7% in intraday trading Monday to move into positive territory for the year. Growth Driven by Technology & Analytics Solutions Unit Looking ahead, IQVIA narrowed its full-year revenue guidance to a range of $15.43 billion to $15.53 billion fr ...

Company Performance - IQV stock has gained 5.2% over the past six months, outperforming the industry rally of 2.9% [1] - IQVIA Holdings Analytics Inc. reported impressive second-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate [12] - Adjusted earnings were $2.6 per share, exceeding the Zacks Consensus Estimate by 2.3% and increasing 2.4% year-over-year [6] - Total revenues reached $3.8 billion, slightly surpassing the consensus estimate and rising 2.3% from the previous year [6] - Adjusted EBITDA for the second quarter was $887 million, indicating a 12.7% growth from the year-ago quarter [8] Revenue Segments - Research and Development segment revenues were $2.2 billion, increasing 2.4% from the year-ago quarter and 3.3% on a constant-currency basis, surpassing the estimate of $2.1 billion [2] - Technology and Analytics segment revenues were $1.5 billion, increasing 2.7% from the second quarter of 2023, meeting the estimate and increasing 3.8% on a constant-currency basis [7] - Contract Sales & Medical Solutions revenues declined 2.3% year-over-year to $172 million, missing the estimate of $177 million but increasing 2.8% on a constant-currency basis [13] Financial Position - The company exited the quarter with cash and cash equivalents of $1.5 billion, up from $1.4 billion at the end of the previous quarter [3] - Long-term debt decreased to $12.1 billion from $12.8 billion at the end of the first quarter of 2024 [3] - Net cash generated from operating activities was $588 million, with capital expenditure of $143 million, resulting in a free cash flow of $445 million for the quarter [14] Guidance - For 2024, IQV updated its revenue guidance to $15.43-$15.53 billion, with the mid-point of $15.48 billion higher than the Zacks Consensus Estimate of $15.44 billion [4] - The adjusted EPS guidance was raised to $11.10-$11.30, compared to the previous range of $10.95-$11.25, with the Zacks Consensus Estimate at $11.07 [15] - The updated guided range for adjusted EBITDA is anticipated to be $3.71-$3.77 billion, compared to the previous range of $3.70-$3.80 billion [15]

Company Performance - IQVIA reported quarterly earnings of $2.64 per share, exceeding the Zacks Consensus Estimate of $2.58 per share, and up from $2.43 per share a year ago [9] - The company posted revenues of $3.81 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.69%, and compared to revenues of $3.73 billion in the same quarter last year [4] - IQVIA has surpassed consensus EPS estimates four times over the last four quarters [10] Market Comparison - IQVIA shares have declined approximately 2.9% since the beginning of the year, while the S&P 500 has gained 15.4% [5] - The Zacks Medical - Instruments industry, to which IQVIA belongs, is currently ranked in the bottom 44% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [12] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $2.81 on revenues of $3.86 billion, and for the current fiscal year, it is $11.07 on revenues of $15.44 billion [7] - The estimate revisions trend for IQVIA is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6][11]

IQVIA Reports Second-Quarter 2024 Results RESEARCH TRIANGLE PARK, N.C. – (BUSINESS WIRE) – July 22, 2024 – IQVIA Holdings Inc. ("IQVIA") (NYSE:IQV), a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry, today reported financial results for the quarter ended June 30, 2024. Revenue for the second quarter of $3,814 million increased 2.3 percent on a reported basis and 3.5 percent at constant currency, compared to the second quarter ...

Q2 Expectations The Research and Development segment's revenues are expected to be $2.1 billion, implying a 1.7% rise from the year-ago reported figure.The top 10 pharmaceutical companies chose IQVIA to support the novel respiratory vaccine development, which could lead to a breakthrough as the vaccine targets several respiratory viruses simultaneously. Such a feat is anticipated to have benefited this segment's revenues.Our estimate for Contract sales and Medical solutions' revenues is pegged at $177 milli ...