IQVIA plánuje vydat seniorní nezajištěné dluhopisy za 2 miliardy USD splatné v roce 2034. Výnosy použije na splacení dluhopisů s kuponem 5,000 % splatných v roce 2026, splacení části revolvingového úvěru a úhradu poplatků a nákladů spojených s emisí.
IQVIA Holdings Inc. (“IQVIA”) NYSE:IQV today announced that its wholly owned subsidiary, IQVIA Inc. (the “Issuer”), intends to raise $2,000,000,000 through an offering of senior notes due 2034 (the “Notes”).
The proceeds from the Notes offering will be used to redeem in full the Issuer’s Senior 5.000% Notes due 2026, to repay a portion of the outstanding indebtedness under the Issuer’s revolving credit facility and to pay fees and expenses related to the Notes offering. The consummation of the Notes offering is subject to market and other customary conditions.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer, solicitation or sale of the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful. The Notes to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in the United States in reliance on Rule 144A under the Securities Act and outside the United States only to non-U.S. investors pursuant to Regulation S under the Securities Act. Any offer of the Notes will be made only by means of a private offering memorandum.
About IQVIA
IQVIA NYSE:IQV is a leading global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and healthcare industries. IQVIA’s portfolio of solutions are powered by IQVIA Connected Intelligence™ to deliver actionable insights and services built on high-quality health data, Healthcare-grade AI®, advanced analytics, the latest technologies and extensive domain expertise. IQVIA is committed to using AI responsibly, with AI-powered capabilities built on best-in-class approaches to privacy, regulatory compliance and patient safety, and delivering AI to the high standards of trust, scalability and precision demanded by the industry. With approximately 94,000 employees in over 100 countries, including experts in healthcare, life sciences, data science, technology and operational excellence, IQVIA is dedicated to accelerating the development and commercialization of innovative medical treatments to help improve patient outcomes and population health worldwide.
IQVIA is a global leader in protecting individual patient privacy. The company uses a wide variety of privacy enhancing technologies and safeguards to protect individual privacy while generating and analyzing information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes. IQVIA’s insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures.
Forward Looking Statements
Certain statements in this press release are forward-looking statements. These statements involve a number of risks, uncertainties and other factors, including the failure to consummate the Notes offering, and potential changes in market conditions that could cause actual results to differ materially.
IQVIAFIN
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Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
IQVIA zvýšila výhled tržeb na 17,28–17,48 miliardy USD a upraveného zisku na akcii (EPS) na 12,80–13 USD po silném 2. čtvrtletí. Akcie za poslední měsíc přidaly asi 5,6 %.
It has been about a month since the last earnings report for IQVIA Holdings (IQV - Free Report) . Shares have added about 5.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is IQVIA due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for IQVIA Holdings Inc. before we dive into how investors and analysts have reacted as of late.
IQVIA Surpasses Q2 Earnings EstimatesIQVIA Holdings Inc. has reported second-quarter 2026 adjusted earnings of $3.15 per share, rising 12.1% year over year and beating the Zacks Consensus Estimate of $3.02 by 4.3%. Revenues of $4.36 billion increased 8.7% and topped the consensus mark of $4.29 billion by 1.6%.
The quarter benefited from broad-based segment growth and strengthening demand indicators. R&D Solutions generated record net new bookings of $3.15 billion, up 19% year over year, producing a 1.22X book-to-bill ratio.
IQV's Commercial Solutions Gains MomentumCommercial Solutions revenues were $1.79 billion, increasing 8.6% on a reported basis and 8.4% at constant currency. The business contributed roughly 41% to the total quarterly revenues.
Growth reflected double-digit gains in patient solutions and commercial engagement services. Analytics and consulting delivered high-single-digit organic growth, while increased adoption of IQVIA’s artificial intelligence solutions also contributed to the segment’s accelerating organic growth.
IQVIA's R&D Bookings Signal Strong DemandResearch & Development Solutions revenues reached $2.58 billion, up 8.8% as reported and 8.6% at constant currency. Excluding reimbursed expenses, revenues advanced 6.7% on a reported basis.
Demand indicators strengthened considerably. Trailing-12-month net new bookings rose 13% to $11.3 billion, while contracted backlog stood at $34.2 billion. IQVIA expects $9.2 billion of that backlog to convert into revenues over the next 12 months, representing 7.5% year-over-year growth.
The strong bookings performance provides improved visibility into future clinical research revenues. It also supports management’s expectation for sustained business momentum through the remainder of 2026 and into 2027.
IQV's Adjusted Profitability Holds FirmAdjusted EBITDA increased 9.2% year over year to $994 million. The adjusted EBITDA margin was 22.8%, modestly above the prior-year level, as profit growth slightly outpaced revenue growth.
Adjusted net income increased to $527 million from $486 million. The improvement reflected stronger operating performance despite higher stock-based compensation, restructuring-related expenses and acquisition-related costs included in the company’s reconciliation.
GAAP net income attributable to IQVIA was $256 million, down from $266 million a year earlier. GAAP diluted earnings were $1.53 per share compared with $1.54 in the prior-year quarter.
IQVIA's Operating Costs Reflect InvestmentCost of revenues increased to $2.93 billion from $2.69 billion in the year-ago quarter. Selling, general and administrative expenses rose to $574 million from $509 million, while depreciation and amortization increased to $292 million.
Restructuring costs nearly doubled to $63 million from $32 million. As a result, GAAP income from operations remained unchanged at $506 million despite the higher revenue base.
Interest expenses increased to $197 million from $182 million. These cost pressures explain the contrast between the decline in GAAP net income and stronger growth in adjusted earnings and EBITDA.
IQVIA's Cash Flow Supports Share RepurchasesThe second-quarter operating cash flow climbed 26% year over year to $558 million. The free cash flow rose 23.3% to $360 million after $198 million of property, equipment and software spending.
For the first half, the operating cash flow totaled $1.18 billion and the free cash flow reached $851 million. IQVIA repurchased $398 million of common stock during the quarter, bringing first-half repurchases to $950 million.
IQV's Balance Sheet Remains LeveragedIQVIA ended June with $1.91 billion in cash and cash equivalents, and $16 billion in debt. Net debt was $14.09 billion, while the net leverage ratio stood at 3.59X trailing-12-month adjusted EBITDA.
The company had $2.82 billion remaining under its share-repurchase authorization. Its current portion of long-term debt was $2.29 billion compared with $1.84 billion at the end of 2025.
IQV Raises Its 2026 Financial OutlookIQVIA raised its 2026 revenue guidance to $17.28-$17.48 billion from $17.15-$17.35 billion.
The updated forecast assumes 200 basis points of contribution from acquisitions, up from 150 basis points previously. It also incorporates a foreign-exchange tailwind of approximately 20 basis points, down from the prior assumption of 100 basis points.
Adjusted EBITDA guidance increased to $4-$4.05 billion from $3.98-$4.03 billion. IQVIA also lifted adjusted diluted earnings guidance to $12.80-$13 from $12.65-$12.95, reflecting stronger expected organic revenue growth and revised acquisition and currency impacts.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates review.
VGM ScoresAt this time, IQVIA has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, IQVIA has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerIQVIA is part of the Zacks Medical - Instruments industry. Over the past month, Edwards Lifesciences (EW - Free Report) , a stock from the same industry, has gained 5.9%. The company reported its results for the quarter ended June 2026 more than a month ago.
Edwards Lifesciences reported revenues of $1.74 billion in the last reported quarter, representing a year-over-year change of +13.6%. EPS of $0.78 for the same period compares with $0.67 a year ago.
For the current quarter, Edwards Lifesciences is expected to post earnings of $0.73 per share, indicating a change of +9% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
Edwards Lifesciences has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
Bruni J V & Co. ve 2. čtvrtletí koupila novou pozici v IQVIA Holdings za zhruba 12,929,896,000 USD. IQVIA zároveň oznámila zpětný odkup akcií až za 2 mld. USD.
Bruni J V & Co. Co. purchased a new position in IQVIA Holdings Inc. (NYSE:IQV – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 66,918 shares of the medical research company’s stock, valued at approximately $12,929,896,000. IQVIA accounts for about 1.2% of Bruni J V & Co. Co.’s investment portfolio, making the stock its 26th largest position.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of IQVIA by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,650,532 shares of the medical research company’s stock worth $4,429,426,000 after buying an additional 159,899 shares during the period. BlackRock Inc. bought a new stake in IQVIA during the second quarter worth about $2,811,292,000. Geode Capital Management LLC grew its holdings in IQVIA by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,374,971 shares of the medical research company’s stock worth $982,272,000 after purchasing an additional 24,453 shares during the period. Boston Partners increased its stake in shares of IQVIA by 14.9% during the fourth quarter. Boston Partners now owns 4,087,380 shares of the medical research company’s stock valued at $923,276,000 after purchasing an additional 530,672 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of IQVIA by 16.2% during the fourth quarter. JPMorgan Chase & Co. now owns 3,799,600 shares of the medical research company’s stock valued at $856,468,000 after purchasing an additional 528,753 shares during the last quarter. Hedge funds and other institutional investors own 89.62% of the company’s stock.
IQVIA Trading Down 0.4% IQVIA stock opened at $240.25 on Wednesday. IQVIA Holdings Inc. has a one year low of $154.50 and a one year high of $251.36. The business’s fifty day moving average is $208.88 and its 200 day moving average is $186.72. The stock has a market capitalization of $39.54 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.01 and a beta of 1.18. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.71 and a quick ratio of 0.71.
IQVIA (NYSE:IQV – Get Free Report) last issued its earnings results on Tuesday, July 28th. The medical research company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $3.03 by $0.12. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.30 billion. IQVIA had a return on equity of 30.25% and a net margin of 8.10%.IQVIA’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.81 EPS. IQVIA has set its FY 2026 guidance at 12.800-13.000 EPS. On average, sell-side analysts predict that IQVIA Holdings Inc. will post 11.57 EPS for the current year. IQVIA announced that its board has initiated a stock repurchase program on Thursday, May 7th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Insider Activity at IQVIA In other IQVIA news, insider Bhavik Patel sold 1,855 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $235.27, for a total transaction of $436,425.85. Following the completion of the sale, the insider directly owned 1,348 shares in the company, valued at approximately $317,143.96. The trade was a 57.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Keriann Cherofsky sold 558 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $245.21, for a total value of $136,827.18. Following the transaction, the insider directly owned 2,989 shares in the company, valued at $732,932.69. The trade was a 15.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,913 shares of company stock worth $3,098,793 in the last three months. 1.70% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In IQV has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price objective on IQVIA from $221.00 to $247.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Barclays reissued an “overweight” rating on shares of IQVIA in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft set a $240.00 price target on IQVIA in a research report on Thursday, July 9th. Mizuho upped their price target on shares of IQVIA from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, Stifel Nicolaus increased their price objective on shares of IQVIA from $220.00 to $276.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $241.88.
View Our Latest Stock Report on IQV
IQVIA Profile (Free Report)
IQVIA (NYSE: IQV) is a global provider of advanced analytics, technology solutions and contract research services to the life sciences industry. The company combines clinical research capabilities with large-scale health data and analytics to support drug development, regulatory reporting, commercial strategy and real‑world evidence generation. IQVIA traces its current form to the combination of Quintiles and IMS Health announced in 2016 and subsequently rebranded as IQVIA, bringing together long-established clinical research operations and extensive healthcare information assets.
IQVIA’s principal activities include outsourced clinical development services (acting as a contract research organization for phases I–IV), real‑world evidence and observational research, regulatory and safety services, and a suite of technology platforms that enable data integration, analytics and operational management.
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Key Takeaways IQVIA shares gained 41.5% in three months, outpacing its industry and the S&P 500 Composite.R&DS net new bookings rose 19% to $3.2B, while contracted backlog reached $34.2B as of June 30, 2026.IQVIA raised its 2026 revenue and EPS guidance, while 1H share repurchases totaled $950M. IQVIA Holdings Inc. (IQV - Free Report) stock has rallied over the past three months. The company’s shares have jumped 41.5%, outperforming the industry’s 17.2% growth and the Zacks S&P 500 Composite's 3.4% uptick.
3-Month Share Price Performance Image Source: Zacks Investment Research
Let us delve into the factors that have contributed to the company’s outperformance.
Record Net Bookings & Solid BacklogsIQVIA’s net new bookings were $3.2 billion for research and development solutions (R&DS) in the second quarter of 2026. It marked 19% year-over-year growth, resulting in a book-to-bill ratio of 1.22X. As the metric surpasses 1, it implies that new order intake exceeds current revenue recognition.
RD&S’s contracted backlog was $34.2 billion as of June 30, 2026. In the second quarter of 2026, the company anticipated $9.2 billion in backlog to convert to top line in the next 12 months, suggesting a 7.5% year-over-year increase.
A high backlog with substantial probability of future revenue provides analysts and investors long-term visibility into top-line growth, lowering earnings uncertainty. Highly predictable and recurring revenues raise investor confidence.
Raised 2026 Outlook Lifts Investor SentimentIn the second quarter of 2026, management uplifted revenue expectations to $17.28-$17.48 billion from the preceding quarter’s view of $17.15-$17.35 billion. The bottom-line prospect was raised to $12.8-$13 per share from $12.65-$12.95 provided during the first quarter of 2026.
A hike in top- and bottom-line guidance raises investors' confidence and prompts analysts to revise their financial models upward, resulting in higher price targets. Currently, based on short-term price targets provided by 19 analysts, the average price target for the stock is $265.26. It offers a 9.6% upside from the last closing price of $241.99.
Image Source: Zacks Investment Research
Shareholder-Friendly ActionsIQVIA has demonstrated a strong commitment to returning value to its shareholders through an active share repurchase program. In 2025, IQV repurchased shares worth $1.24 billion. In the first half of 2026, the company’s share repurchases amounted to $950 million. This substantial buyback not only reduces the total outstanding share count, thereby increasing earnings per share, but also signals management's belief in the intrinsic value of the stock.
Zacks Rank & Stocks to ConsiderIQVIA currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Medical sector are Anika Therapeutics (ANIK - Free Report) and BrightSpring Health Services, Inc. (BTSG - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ANIK has a long-term earnings growth expectation of 10%. Anika Therapeutics delivered a trailing four-quarter earnings surprise of 950%, on average.
BTSG has a long-term earnings growth expectation of 46%. BrightSpring delivered a trailing four-quarter earnings surprise of 16.1%, on average.
IQVIA a Medera oznámily strategickou spolupráci na urychlení vývoje srdeční genové terapie a lidských platforem pro objevování léčiv. IQVIA má podpořit nábor pacientů, kvalitu dat a regulační podání.
RESEARCH TRIANGLE PARK, N.C. & BOSTON--(BUSINESS WIRE)--IQVIA (NYSE:IQV), a leading global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and healthcare industries, and Medera Inc. (“Medera”), a clinical-stage biopharmaceutical company pioneering next-generation therapeutics for cardiovascular disease, today announced a strategic collaboration to accelerate the development of cardiac gene therapies and human-based drug discovery platforms.
The collaboration brings together IQVIA’s global clinical trial and commercialization infrastructure with Medera’s pioneering platforms: Sardocor, focused on developing disease-modifying gene therapies for difficult-to-treat cardiovascular diseases, and Novoheart, a leader in engineered human-based cardiac tissue for disease modelling and drug screening.
Sardocor will leverage IQVIA’s regulatory and trial execution expertise to advance its FDA-cleared, first-in-human AAV-based gene therapy programs. IQVIA will support patient recruitment, data quality and regulatory filings, including applications for expedited FDA designations.
Novoheart’s mini-Heart platform is already instrumental in securing IND and Fast Track designations and offers a predictive, human-based alternative to animal testing. The platform is expanding into multiple organ systems to support drug discovery and safety testing under the FDA Modernization Act 2.0.
“By combining IQVIA’s global expertise with Medera’s mini-Heart platform and gene therapy programs, we can bring safer, more effective therapies to patients faster,” said Ronald Li, Co-Founder, Chairman & CEO of Medera. “This collaboration expands our reach, while reinforcing the scientific and regulatory momentum around human-based drug discovery and cardiac gene therapy innovation.”
About IQVIA
IQVIA (NYSE:IQV) is a leading global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and healthcare industries. IQVIA’s portfolio of solutions are powered by IQVIA Connected Intelligence™ to deliver actionable insights and services built on high-quality health data, Healthcare-grade AI®, advanced analytics, the latest technologies and extensive domain expertise. IQVIA is committed to using AI responsibly, with AI-powered capabilities built on best-in-class approaches to privacy, regulatory compliance and patient safety, and delivering AI to the high standards of trust, scalability and precision demanded by the industry. With approximately 94,000 employees in over 100 countries, including experts in healthcare, life sciences, data science, technology and operational excellence, IQVIA is dedicated to accelerating the development and commercialization of innovative medical treatments to help improve patient outcomes and population health worldwide.
IQVIA is a global leader in protecting individual patient privacy. The company uses a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analyzing information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes. IQVIA’s insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures. To learn more, visit www.iqvia.com.
About Medera Inc.
Medera is a clinical-stage biopharmaceutical company focused on targeting difficult-to-treat and currently incurable diseases by developing next-generation therapeutics. Medera operates via two business units: Sardocor, its clinical development arm advancing a pipeline of cardiac gene therapy trials (HFpEF, HFrEF, DMD-CM), and Novoheart, its preclinical subsidiary pioneering the world’s first and award-winning “mini-Heart” technology for human-based disease modelling, drug discovery, and toxicity testing. Novoheart’s platforms have already supported FDA IND and Fast Track designations, and the company is advancing a broader pipeline of gene therapy, cell therapy, and small molecule candidates. For more information, visit www.medera.bio.
IQVIA ve 2. čtvrtletí zvýšila tržby v R&D Solutions o 8,8 % a v Commercial Solutions o 8,6 %, ale vysoký dluh a slabá likvidita dál tlumí investiční případ.
Key Takeaways IQV leverages proprietary data & analytics to strengthen its competitive position across healthcare markets.IQV grew R&D and Commercial Solutions revenue, supported by AI adoption and broad customer demand.IQV generates strong cash flow, but high debt and weak liquidity temper the long-term investment case. IQVIA Holdings Inc. (IQV - Free Report) is benefiting from stronger demand across clinical research and commercial services, supported by data assets that are difficult to replicate.
The investment case is less straightforward on the balance sheet. High debt, limited short-term liquidity and continued buybacks raise the financial risk, leaving investors to weigh durable competitive advantages against leverage and pricing pressure.
IQVIA’s Data Advantage Supports Long-Term GrowthIQVIA’s information platform includes roughly 61 petabytes of proprietary data and more than one billion non-identified patient records. Its healthcare-focused technology infrastructure and analytics capabilities allow customers to connect clinical, commercial and real-world information at scale.
That resource base serves more than 10,000 clients and creates a meaningful barrier to entry. Competitors can build software or research capacity, but matching the breadth of IQVIA’s data, industry expertise and established customer relationships would require substantial time and investment.
IQVIA’s Growth Engines Continue to ExpandResearch & Development Solutions revenues increased 8.8% year over year in the second quarter, while Commercial Solutions revenues rose 8.6%. Growth was broad-based, with patient solutions, commercial engagement, analytics and consulting contributing alongside increased adoption of artificial intelligence tools.
Those businesses address a market estimated at more than $330 billion. ICON plc (ICLR - Free Report) and Medpace Holdings Inc. (MEDP - Free Report) also reported positive second-quarter booking and revenue trends, underscoring healthy demand for outsourced clinical-development services while keeping competitive pressure in focus.
IQVIA’s Cash Flow Funds Heavy BuybacksSecond-quarter operating cash flow increased 26% to $558 million, while free cash flow rose 23.3% to $360 million. That cash generation gives IQVIA flexibility to invest in technology, acquisitions and shareholder returns.
IQVIA repurchased $398 million of stock during the quarter and $950 million in the first half of 2026. The company retained $2.82 billion of authorization at June 30, but the pace of future repurchases will depend on cash generation and other capital-allocation priorities.
IQVIA’s Debt and Liquidity Raise CautionDebt totaled about $16 billion at the end of the second quarter, with net debt of $14.09 billion. The net leverage ratio stood at 3.59 times trailing adjusted EBITDA, leaving the company exposed to interest costs and limiting room for operating setbacks.
The current ratio was about 0.71, below the cited industry level, as current assets of $6.23 billion trailed current liabilities of $8.82 billion. IQVIA does not currently plan to pay a dividend, so shareholder returns remain tied mainly to price appreciation and repurchases.
Image Source: Zacks Investment Research
IQVIA’s Valuation Offers a Mixed SignalIQVIA trades at 13.02X trailing enterprise value to EBITDA. That is below its five-year median and the cited sub-industry multiple, but above the broader medical-sector comparison.
Image Source: Zacks Investment Research
Image Source: Zacks Investment Research
The discount to its historical valuation may look reasonable, yet it does not eliminate the leverage risk. Pricing pressure, backlog-conversion timing and recent share appreciation could make additional gains more dependent on sustained earnings and cash-flow execution.
IQVIA’s Hold Signal Fits the Trade-OffIQVIA’s data scale, diversified client base and improving segment growth support the long-term case. High leverage and weak short-term liquidity argue against treating those advantages as a reason for an aggressive entry at any price.
The stock currently carries a Zacks Rank #3 (Hold), which supports patience rather than a forceful buy call. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
IQV’s Value Score of B and VGM Score of B are constructive, while a Growth Score of C and Momentum Score of C point to a more balanced near-term profile.
The combination fits the broader trade-off. IQVIA has improving fundamentals and valuable assets, but investors may prefer to wait for continued debt management, cash-flow progress or a more favorable entry point before taking a larger position.
IQVIA za týden vzrostla o 13 % po lepších čtvrtletních výsledcích a zvýšení výhledu na 2026. Tržby i zisk překonaly odhady, podpořené rekordními objednávkami v R&D.
Key Takeaways IQV reported Q2 earnings and revenue above estimates, driven by Commercial and R&D Solutions growth.IQV raised 2026 revenue and earnings guidance after record R&D bookings and a larger contracted backlog.IQV trades below its five-year EV/EBITDA median, while leverage and recent gains raise the execution bar. IQVIA Holdings Inc. (IQV - Free Report) shares climbed 13% in a week as investors weighed better-than-expected quarterly results, stronger bookings and a raised full-year outlook.
The move reflects improving operating momentum, but its durability depends on whether bookings convert into revenue and earnings while leverage remains elevated. After a 29% gain in six months, further upside may require consistent execution rather than another short-term rerating.
IQVIA’s Rally Follows a Strong Earnings BeatSecond-quarter adjusted earnings increased 12.1% year over year to $3.15 per share. Revenues rose 8.7% to $4.36 billion, supported by growth in both Commercial Solutions and Research & Development Solutions.
Earnings exceeded the Zacks Consensus Estimate by 4.3%, while revenues topped the consensus mark by 1.6%. Those results strengthened the investment case, although they should be viewed as one contributor to the weekly price move rather than its sole cause.
IQVIA’s Bookings Improve Revenue VisibilityResearch & Development Solutions generated record net new bookings of $3.15 billion, up 19% year over year, with a book-to-bill ratio of 1.22. Trailing-12-month net new bookings reached $11.3 billion, up 13%.
Contracted backlog totaled $34.2 billion at June 30, with about $9.2 billion expected to convert into revenue over the next 12 months. That pipeline improves visibility into future clinical research activity, though conversion timing remains important.
ICON plc (ICLR - Free Report) , another clinical research organization, reported second-quarter net business wins of $3.12 billion and a 1.51 book-to-bill ratio. Fortrea Holdings Inc. (FTRE - Free Report) also competes in outsourced clinical development, making peer booking trends relevant when judging whether IQVIA’s momentum is company-specific or industrywide.
IQVIA’s Raised Outlook Supports MomentumIQVIA raised its 2026 revenue guidance to $17.28 billion-$17.48 billion from $17.15 billion-$17.35 billion. Adjusted earnings guidance increased to $12.80-$13 per share from $12.65-$12.95.
The new revenue midpoint implies 6.5% growth, compared with 5.8% previously. Management incorporated roughly 100 basis points of stronger organic growth and 50 basis points of additional acquisition contribution, partly offset by an 80-basis-point unfavorable change in foreign exchange assumptions.
IQVIA’s Valuation May Limit Further UpsideIQVIA trades at 13.02X trailing enterprise value to EBITDA, below its five-year median of 14.14X. That discount suggests the stock is not stretched relative to its own history and Industry.
Image Source: Zacks Investment Research
The comparison is less reassuring after the recent rally. Shares have advanced 29% in six months, while net debt stood at $14.09 billion and the net leverage ratio was 3.59. Additional appreciation may therefore depend on earnings growth, cash generation and steady backlog conversion.
IQVIA’s Mixed Scores Temper the RallyThe operating picture supports continued interest, but the weekly surge should not be treated as an unqualified bullish signal. Bookings and guidance improved, while leverage and the size of the recent advance raise the execution bar.
IQVIA currently carries a Zacks Rank #3 (Hold), indicating a neutral near-term earnings-revision signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Its Value Score of B and VGM Score of B add support for investors focused on valuation and a blended style profile.
The Growth Score of C and Momentum Score of C are less decisive. Together, the scores suggest that the stock’s prospects are balanced, with further gains likely to depend on sustained operating progress rather than the recent price move alone.
Chairman and CEO Ari Bousbib reported a sale of about 106,000 shares of IQVIA Holdings Inc. (IQV -1.17%) for total proceeds of $26.1 million in an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value~$26.1 millionShares sold~106,000Post-transaction shares (total)~1.4 millionPost-transaction shares (directly held)~836,000Post-transaction shares (indirectly held)~543,000Post-transaction value~$341.45 millionTransaction value based on SEC Form 4 weighted average sale price ($245.51); post-transaction value based on July 29, 2026 market close ($247.56).
Key questionsWhat was the structure of this disposition?
The transaction was an exercise-and-sell of stock appreciation rights expiring in February 2027, where 106,279 shares were sold at a weighted average price of $245.51.How does this impact the insider's total equity exposure?
While direct holdings were reduced by 11%, the insider retains a total beneficial position of 1.4 million shares, including significant indirect interests that remained unchanged.What is the significance of the Orohena Trust holdings?
Bousbib maintains indirect ownership of 543,000 shares through the Orohena Trust, providing continued long-term exposure to the company's valuation separate from direct executive compensation.How does the execution price compare to recent market valuation?
The shares were sold at a weighted average price of $245.51, representing a narrow discount to the $247.56 market close on the July 29, 2026 transaction date.Company OverviewMetricValueShare Price (as of market close 2026-07-30)$237.82Market Capitalization$38.8 billionRevenue (TTM)$17.0 billionNet Income (TTM)$1.4 billionCompany SnapshotIQVIA provides sophisticated analytical insights, advanced technology solutions, and comprehensive clinical research services to the life sciences industry through three primary operating segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.The company generates revenue through a diversified business model that combines data analytics, technology platforms, clinical trial services, and sales force outsourcing solutions for pharmaceutical, biotechnology, and medical device manufacturers globally.IQVIA serves pharmaceutical companies, biotechnology firms, medical device manufacturers, and healthcare organizations across the Americas, Europe, Africa, and Asia-Pacific regions, positioning itself as a critical partner in drug development and commercialization.IQVIA Holdings Inc. is a premier global provider of life sciences intelligence and services operating across multiple continents. The company maintains a competitive advantage through its integrated platform combining proprietary data, advanced analytics, and extensive clinical research capabilities, enabling clients to optimize drug development timelines and commercialization strategies. With TTM revenue of $17.0 billion and a market capitalization of $38.8 billion, IQVIA has demonstrated strong market positioning and sustained growth momentum.
What this transaction means for investorsThe rights behind this sale carried a February 2027 expiration, which is the detail that explains the timing. Bousbib was converting stock appreciation rights before they lapsed, a deadline that has nothing to do with his read on the stock. He sold a bit under the day's close and kept a 1.4 million share position, including 543,000 shares in the Orohena Trust that didn't move. Ultimately, a CEO cashing in expiring rights while leaving his long-term holdings intact is basically just a sign of calendar management, not a signal about the firm’s prospects.
The timing, meanwhile, does follow a standout quarter. This past week, IQVIA reported that it grew second-quarter revenue 8.7% to $4.37 billion, lifted adjusted earnings per share 12.1% to $3.15, and posted record clinical bookings of $3.15 billion, a 1.22 book-to-bill. It also raised full-year guidance to as much as $17.475 billion. Bousbib called it “as clean a quarter” as he’s seen in more than two decades of reporting earnings across companies. Cash flow, however, performed shy of expectations, and the stock took a small hit after earnings but is still up for the year.
For long-term investors, it’ll be important to see how both the backlog and cash flow evolve from here. IQVIA has $34.2 billion in contracted work, with about $9.2 billion converting to revenue within a year, so the growth is visible well into 2027. Whether demand from biotech clients — and how that translates to cash flow — will be key in determining the firm’s trajectory.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Iqvia Holdings. The Motley Fool has a disclosure policy.
IQVIA Holdings (IQV - Free Report) reported $4.37 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 8.7%. EPS of $3.15 for the same period compares to $2.81 a year ago.
The reported revenue represents a surprise of +1.63% over the Zacks Consensus Estimate of $4.3 billion. With the consensus EPS estimate being $3.02, the EPS surprise was +4.31%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how IQVIA performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Research & Development Solution: $2.58 billion versus $2.5 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +17% change.Revenues- Commercial Solutions: $1.79 billion versus the two-analyst average estimate of $1.8 billion.Segment profit- Commercial Solutions: $419 million versus the two-analyst average estimate of $388.56 million.Segment Profit- Research & Development Solutions: $526 million versus the two-analyst average estimate of $490.13 million.View all Key Company Metrics for IQVIA here>>>
Shares of IQVIA have returned +10.3% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
IQVIA zvýšila celoroční výhled zisku po lepších výsledcích za 2. čtvrtletí, podpořených silnou poptávkou po datových a analytických službách. Akcie před otevřením trhu vzrostly o 11 %.
CompaniesJuly 28 (Reuters) - IQVIA Holdings (IQV.N), opens new tab raised its annual profit forecast on Tuesday after reporting better-than-expected second-quarter results, driven by strong demand for its healthcare data and analytics services, sending its shares up 11% before the bell.
Here are the details:
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IQVIA and other contract research providers have benefited from improving demand as biotech funding recovers and drugmakers increase outsourcing of clinical development, data analytics and safety testing work.
CEO Ari Bousbib said favorable indicators across the segments point to "sustained momentum for the balance of the year and into 2027."
"Against the backdrop of better CRO sentiment (and a higher bar), IQVIA's results came in better across the board," Leerink Partners analysts said.
The company raised its 2026 revenue forecast to $17.28 billion to $17.48 billion from $17.15 billion to $17.35 billion previously.
IQVIA now expects 2026 adjusted profit of $12.80 to $13.00 per share, compared with its prior forecast of $12.65 to $12.95 per share.
Second-quarter revenue rose 8.7% to $4.37 billion, topping analysts' estimate of $4.30 billion, while adjusted earnings per share of $3.15 exceeded an expectation of $3.03 per share, according to data compiled by LSEG.
Research & Development Solutions revenue, IQVIA's largest segment, increased 8.8% to $2.58 billion from a year ago, above analysts' estimate of $2.50 billion. Commercial Solutions revenue rose 8.6% to $1.79 billion.
Research & Development Solutions reported net new bookings of $3.15 billion, up 19% year-over-year, resulting in a book-to-bill ratio of 1.22x. This metric compares the value of new orders to revenue recognized.
Reporting by Sahil Pandey in Bengaluru; Editing by Pooja Desai
Our Standards: The Thomson Reuters Trust Principles., opens new tab
IQVIA čeká ve 2. čtvrtletí tržby 4,3 miliardy USD, tedy meziroční růst o 6,7 %, a EPS 3,02 USD. Růst má podpořit AI, nová uvedení léků na trh a adopce Data-as-a-Service.
Key Takeaways IQVIA's Q2 revenues are expected to rise 6.7% y/y to $4.3 billion, with EPS at $3.02.Commercial solutions growth is expected from drug launches, AI demand and Data-as-a-Service adoption.AI-led workflow gains and backlog conversion are expected to support research and development solutions. IQVIA Holdings Inc. (IQV - Free Report) is set to release second-quarter 2026 results on July 28, before market open.
IQV has a decent earnings surprise history, having surpassed the Zacks Consensus Estimate in the trailing four quarters, with an average surprise of 1.6%.
IQVIA’s Q2 ExpectationsThe Zacks Consensus Estimate for revenues is pegged at $4.3 billion, implying 6.7% year-over-year growth. Growth in the top line is likely to have been stimulated by an efficient use of AI across its business lines.
Revenue gains in the commercial solutions segment are expected to have emanated extensively from rising drug launch activity. Surging demand for the company’s exclusive AI capabilities, tailored AI agents and AI-ready data foundations is anticipated to have added to the growth trajectory.
We expect the rapid adoption of Data-as-a-Service, resulting in multi-year client agreements and enterprise-wide platform adoptions, enhancing commercial intelligence and analytics, to have acted as a major catalyst to this segment’s growth.
For the research and development solutions segment, we expect IQVIA to have leveraged AI to optimize workflow, accelerate study execution and cut down errors, thus improving its revenues. Scheduled conversion of contracted backlogs into revenues over the upcoming months is likely to have contributed to the segment’s growth.
The consensus estimate for earnings per share is $3.02, implying 7.5% year-over-year growth. Enhancement in operational prowess springing from high-margin revenue growth across segments is anticipated to have benefited the bottom line.
What Our Model Says About IQVOur proven model does not conclusively predict an earnings beat for IQVIA this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
IQV has an Earnings ESP of -2.98% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to ConsiderHere are a few stocks from the broader Medical sector, which, according to our model, have the right combination of elements to beat on earnings this time around.
Alcon (ALC - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pegged at $2.8 billion, indicating 7.3% year-over-year growth. For earnings, the consensus mark is pinned at 77 cents per share, moving up 1.3% from the year-ago quarter’s reported figure. The company beat the consensus estimate in three of the past four quarters and missed once, with an average surprise of 3.7%.
ALC carries an Earnings ESP of +3.13% and a Zacks Rank of 3 at present. The company is scheduled to declare second-quarter 2026 results on Aug. 10.
Waters (WAT - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pinned at $1.6 billion, hinting at 3% year-over-year growth. For earnings, the consensus mark is pinned at $3.01 per share, improving 2% from the year-ago quarter’s reported figure. WAT beat the consensus estimate for earnings in the trailing four quarters, with an average surprise of 6%.
WAT has an Earnings ESP of +0.45% and a Zacks Rank of 3 at present. The company is scheduled to declare second-quarter 2026 results on Aug. 4.
IQVIA má backlog výzkumu a vývoje 34,2 mld. USD, z toho 8,9 mld. USD má přejít do tržeb během příštích 12 měsíců. Firma zároveň vykázala volný peněžní tok 491 mil. USD.
Key Takeaways IQVIA's AI tools, historic R&D backlog and robust free cash flow support its growth outlook.IQV's $34.2B R&D backlog includes $8.9B expected to convert to revenues in the next 12 months.IQVIA faces risks from past industry turmoil, no cash dividend plans and weak liquidity. Shares of IQVIA (IQV - Free Report) have jumped 26.1% over the past year, compared with the industry’s 10.4% decline and the Zacks S&P 500 Composite's 24.3% rise.
1-Year Share Price Performance Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 revenues is $17.3 billion. The metric is expected to gain 5.8% year over year. The same growth rate is anticipated for the top line in 2027. The consensus mark for 2026 EPS is set at $12.8, suggesting a 7.4% increase from that reported in the preceding year. For 2027, the expected growth rate is 11.2%.
Factors That Augur Well for IQV’s SuccessAI Enhances Data Integration: IQVIA’s ability to process information is enhanced by recent advancements in AI, including IQVIA.ai, which provides clients with a single point of access to their AI solutions and enables them to explore a broader portfolio. It has built deep industry trust, as evidenced by 19 of the top 20 global pharma companies utilizing IQV’s distinguished AI agents in their workflows.
Life science clients are highly inclined to select IQVIA’s AI-ready data foundations, including 192 specialized AI agents deployed in the field across 64 use cases in Commercial Solutions and R&D Solutions. Large pharma companies leverage IQVIA’s Data-as-a-Service platform to harmonize global commercial intelligence.
Historic Backlog & Pipeline: IQVIA’s growth trajectory is immensely dictated by its record-breaking R&D Solutions backlog of $34.2 billion. It provides a stream of recurring revenues that enhances long-term visibility. During the first-quarter 2026 earnings call, Ari Bousbib, the CEO and chairman, stated that $8.9 billion of the total backlog is expected to convert into revenues over the next 12 months, marking an 8% rise from the year-ago quarter’s actual.
Immaculate Earnings Quality: As of March 31, 2026, IQV registered $618 million in cash flow from operations and incurred $127 million in CapEx, leading to a free cash flow (FCF) of $491 million. This robust FCF represents 100% of adjusted net income. As a result, IQVIA’s balance sheet accrual ratio was pushed downward to -0.9, wider than the industry’s -0.5, verifying high earnings quality.
Shareholder-Friendly Strategy: IQVIA has demonstrated a strong commitment to returning value to its shareholders through an active share repurchase program. In the past year alone, the company repurchased shares worth $1.24 billion. This substantial buyback not only reduces the total outstanding share count, thereby increasing earnings per share, but also signals management's belief in the intrinsic value of the stock.
Risks Faced by IQVIAPast Industry Turmoil: During the first-quarter 2026 earnings call, management stated that the company is coming out of 3-4 years of industry turbulence. It is primarily fueled by a post-COVID deflationary environment affecting budgets, the IRA under the Biden administration and policies announced/enacted during the Trump regime. These factors collectively forced large pharma to halt discretionary spending that had driven historic organic growth.
No Dividend Discourages Investors: The company currently has no plan to pay out cash dividends on common stock. Payment of dividends in the future depends on factors such as its financial condition, cash requirements and contractual restrictions. Investors seeking cash dividends should avoid buying the IQVIA stock.
Weak Liquidity: IQV ended the first quarter of 2026 with a cash chest of $2.1 billion against a current debt of $1.8 billion. While the current debt was a tad bit lower than cash, the larger picture reveals that IQV’s current liabilities position exceeds its current assets.
As a result, the company ended the aforesaid quarter with a current ratio of 0.75, which has stayed below 1 over the past multiple quarters, hinting at a sustained weak liquidity position. The inability to cover short-term debt does not bode well with investors.
IQV’s Zacks Rank & Stocks to ConsiderThe company has a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks from the broader Zacks Medical sector are Globus Medical (GMED - Free Report) and Integra LifeSciences (IART - Free Report) , currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Globus Medical has a long-term earnings growth expectation of 10.2%. GMED delivered a trailing four-quarter earnings surprise of 26.3%, on average.
Integra LifeSciences has a long-term earnings growth expectation of 5.9%. IART delivered a trailing four-quarter earnings surprise of 16.8%, on average.
