12 Best Diagnostics Stocks to Invest In Right Now

7. IQVIA Holdings Inc. (NYSE:IQV)

Number of Hedge Fund Holders: 51

IQVIA Holdings Inc. (NYSE:IQV) provides advanced analytics, clinical research services, and technology solutions for the life sciences industry. Its operations are divided into Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions segments.

The company delivered strong operational results in its full-year 2024 results, reporting revenue growth of 5.5% at constant currency with adjusted diluted earnings per share rising over 9%. Its free cash flow reached a record $2.1 billion, representing 41% growth versus last year and 104% of adjusted net income. On the clinical side, net new bookings for the quarter went over $2.5 billion.

In addition, IQVIA Holdings Inc. (NYSE:IQV) successfully renewed all of its large pharma strategic partnerships this past year, displaced incumbents, and expanded the scope of work in several partnerships, positively positioning its business for future growth. The company holds partnerships with 22 of the top 25 pharma companies. It also introduced 60 innovations in 2024, including 39 AI-enabled applications. For instance, IQVIA Holdings Inc. (NYSE:IQV) rolled out the IQVIA AI Assistant, its first-ever Gen AI interface that allows customers to interact with a growing number of its products and get answers to their questions almost instantly. In a report released on March 5, Charles Rhyee from TD Cowen maintained a Buy rating on the company, with a price target of $250.00.