1. IQVIA Holdings Inc. (NYSE:IQV)
Farallon Capital’s Stake Value: $647,658,000
Percentage of Farallon Capital’s 13F Portfolio: 3.28%
Number of Hedge Fund Holders: 66
IQVIA Holdings Inc. (NYSE:IQV) is an American multinational company specializing in health information technology and clinical research, providing support services for pharmaceutical, biotech, and medical companies. Farallon Capital, as of Q3 2021, owns 2.70 million shares of IQVIA Holdings Inc. (NYSE:IQV), worth $647.65 million, representing 3.28% of the fund’s third quarter portfolio.
On January 6, UBS analyst John Sourbeer kept a Buy rating and a $310 price target on IQVIA Holdings Inc. (NYSE:IQV) as part of a broader research note on Life Sciences and Diagnostic Tools. The analyst sees upward bias to results driven by continued strong biotech demand and base recoveries for the group, adding that while macro pressures remain on the radar, these are reflected in guidance and consensus. He further stated that IQVIA Holdings Inc. (NYSE:IQV) is positioned well with both positive earnings revisions and multiple expansion.
Arrowstreet Capital is one of the leading IQVIA Holdings Inc. (NYSE:IQV) stakeholders as of Q3 2021, with 1.5 million shares worth $369.5 million. Overall, 66 hedge funds were bullish on IQVIA Holdings Inc. (NYSE:IQV) in the third quarter, with stakes totaling $3.75 billion.
Here is what Cooper Investors has to say about IQVIA Holdings Inc. (NYSE:IQV) in its Q4 2021 investor letter:
“During the quarter, IQVIA held an Investor Relations day. Today IQVIA is a leading provider of technology solutions and clinical research services to the life science industry. The portfolio first invested in the IQVIA predecessor IMS Health in late 2015. IMS Health was taken private by private equity in 2010 and re-listed in 2014. Current CEO Ari Bousbib, a former executive at United Technologies was appointed CEO at its privatization and has been the driving force ever since.
Under Ari’s watch IMS first transformed itself from a drug prescription data business to a broader pharmaceutical services provider and then in 2016 merged with Quintiles, the leading Contract Research Organisation (CRO), a business that runs drug trials for pharmaceutical and biotech companies. This merger created the IQVIA we know today. While this was a merger on the surface it was anything but as IMS effectively took control of Quintiles with no premium paid, another in the long line of savvy moves made by Ari and the team.
Along the journey IQVIA management have consistently increased growth rates and expanded the opportunity set for the company. This is a highly commercial team that has built or sought out great quality businesses in attractive and growing life science markets. IMS was an ex-growth business in 2010 and by the time of the Quintiles merger had accelerated to low-to-mid single digits. With the addition of Quintiles and improvement across all aspects of the business revenue growth has been averaging high-single-digits.
At the IR day management now talked to a double-digit revenue growth opportunity. Their markets are growing as fast as they have ever been as more capital flows into biotech and life sciences development. While we have owned the shares for over six years, the business outlook today is the strongest we’ve ever seen it and IQVIA remains a core position.”
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