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IQVIA (IQV) Strong on IT Infrastructure Despite Debt Woes

IQVIA Holdings Inc. IQV is currently benefiting from a strong healthcare-specific global IT infrastructure and analytics-driven clinical development capabilities.

IQV recently reported solid first-quarter 2022 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Adjusted earnings per share of $2.47 beat the consensus mark by 1.7% and improved 13.3% on a year-over-year basis. Total revenues of $3.57 billion outpaced the consensus estimate by 0.5% and increased 4.7% year over year on a reported basis and 6.8% on a constant-currency basis.

How is IQVIA Doing?

A set of robust capabilities places IQVIA strongly in the life sciences space and positions it well to make most of the market opportunities. The company has a strong healthcare-specific global IT infrastructure, analytics-driven clinical development capabilities, a robust real-world solutions ecosystem and a growing set of proprietary clinical and commercial applications that allow it to grow and retain relationships with healthcare stakeholders. IQV’s combined offerings of research and development, and commercial services, have been helping it develop trusted relationships with its clients, resulting in a diversified base of 10,000 plus clients in more than 100 countries.

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IQVIA’s addressable market size is more than $200 billion, consisting of outsourced research and development, real-world evidence and connected health plus technology-enabled clinical and commercial operations markets. IQV aims to expand into and penetrate these markets by innovating offerings and improving its existing ones using its information resources, advanced analytics, transformative technology and significant domain expertise.

IQVIA has an enormous database on healthcare comprising around 56 petabytes of proprietary information sourced from about 150,000 data suppliers. IQV delivers material and insights on roughly 85% of the world’s pharmaceuticals. Its unique ability to standardize, organize and integrate these records through applying sophisticated analytics and global technology infrastructure helps it build a strong client base.

IQVIA’s current ratio at the end of first-quarter 2022 was pegged at 0.93, lower than 1.15 reported at the end of the prior-year quarter. Decreasing current ratio is not desirable as it indicates that IQV may have problems meeting its short-term obligations.

Zacks Rank and Stocks to Consider

IQV carries a Zacks Rank #3 (Hold) at present. Some better-ranked stocks in the broader Business Services sector that investors may consider are Cross Country Healthcare CCRN and Clean Harbors CLH.

Cross Country Healthcare currently sports a Zacks Rank #1 (Strong Buy). CCRN has a long-term earnings growth expectation of 6.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Cross Country Healthcare delivered a trailing four-quarter earnings surprise of 29.2%, on average.

Clean Harbors’ flaunts a Zacks Rank of 1 at present. CLH pulled off a trailing four-quarter earnings surprise of 35.8%, on average.

Clean Harbors focuses on improving its efficiency and lowering operating costs through enhanced technology, process efficiencies and stringent cost management.


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