Narrow-Moat IQVIA Sees Continued Growth in 2Q; Maintaining $131 FVE
IQVIA posted solid second-quarter results. Revenue was over $2.7 billion, representing 8.5% growth in constant currency, and adjusted EBITDA of $578 million, representing margin improvement of about 33 basis points from last year. Management raised revenue guidance for the full year slightly, narrowed adjusted EBITDA guidance, and raised guidance for adjusted earnings per share. While we may make some adjustments to our model, we do not expect a material change to our fair value estimate of $131...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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