Morningstar | IQV Updated Star Rating from 25 Jul 2018
IQVIA realized strong second-quarter performance, prompting management to raise its full-year guidance above our forecasts. Our wide-moat rating for the company remains intact, and we anticipate a minor increase in our fair value estimate after we update our assumptions. Management now expects full-year revenue to be between $10.25 billion and $10.4 billion (versus our previous $10.1 billion forecast) thanks to organic operational strength, higher research and development revenue, and increased M&A contribution.IQVIA's research and development solutions segment increased second-quarter sales by 8.3% year over year in constant currency. As evidenced by strong bookings growth, we think the company will continue to benefit from its next-generation CRO solution, especially among smaller, well-funded clients. On a constant currency basis, IQVIA's technology and analytics solutions segment (formerly commercial solutions) increased 13.1% compared with the year-ago period. Several significant client additions helped the segment maintain its 4% organic growth rate during the quarter. Meanwhile, the company’s smaller contract sales and medical solutions segment (formerly integrated engagement solutions, IQVIA's noncore contract sales business) realized a 15.1% constant currency decline versus the year-ago period.
IQVIA Holdings is a provider of analytics, technology solutions and contract research services to the life sciences industry. The company's reportable segments are: Technology and Analytics Solutions, which provides information, technology solutions and real world solutions and services to life science clients; Research and Development Solutions, which primarily serves biopharmaceutical clients, is engaged in research and development and provides clinical research and clinical trial services; and Contract Sales and Medical Solutions, which provides contract sales to both biopharmaceutical clients and the healthcare market.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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