BTIG Downgrades IQVIA Holdings (IQV) to Neutral

BTIG analyst David Larsen downgraded IQVIA Holdings (NYSE: IQV) from Buy to Neutral.

The analyst comments "We are downgrading shares of IQV from Buy to Neutral. Following a large healthcare conference in January, commentary from the Clinical Research Organization (CRO) sector was more cautious than we had expected, and we worry that IQV's R&DS Division may continue to face headwinds through 1H:25, and possibly into 2026. We estimate that challenges are coming from an ongoing slowdown in clinical trial activity by bio-pharma due to the Inflation Reduction Act (IRA), changes in Medicare reimbursement, a continued tough comp from the COVID era due to a pull-forward of research into 2020 and 2021, the capital-raising environment is getting better but is still below 2020-2021 levels, and we believe that pricing is more intense. Furthermore, we also believe that Veeva (VEEV, Buy, $280 PT) tends to win on the commercial and R&D technology side of the market, with ongoing share gains. IQV and other CROs have highlighted various pockets of strength and improvement, as well as persistent challenges at times. Our view is that the R&DS division, and CRO efforts broadly, are at significant risk of facing continued headwinds through 2025."

For an analyst ratings summary and ratings history on IQVIA Holdings click here. For more ratings news on IQVIA Holdings click here.

Shares of IQVIA Holdings closed at $201.36 yesterday.

You May Also Be Interested In

• Stripe, Advent In Talks To Buy Paypal - WSJ
• Phillips 66, Marathon Merger Talks Collapsed - Semafor
• Boeing lands two U.S. defense contracts worth over $711M