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Insider Buys into New Highs for Leading Clinical Research Beneficiary

by | Jan 2, 2022

Iqvia (IQV) with a rare open market buy on 12/22 from director John Danhakl of 10,000 shares at $272.93. This was the only open market buy in the name in 2021. Shares traded well in 2021 up over 57% and closing just 1% below new highs. IQV is breaking out of a wide range above $270 that measures out to $310. The $53.82B company trades 27.8X earnings, 4X sales, and 22.7X FCF. IQV is coming off a strong end to 2021 raising guidance noting that new clinical trial starts are trending well above recent historical average while the pipeline of late-stage molecules continues to expand to record numbers, “indicating a large backlog of potential launches, some of which have been pushed to the right during the pandemic last year.” Analysts have an average target for shares of $280 with a Street High $320. JP Morgan positive on 12/23 noting that the long-term outlook has exceeded expectations. Mizuho likes the company and the space into 2022 noting that its set to outperform in 2022 due to increased earnings visibility, reduced legislative risk, an improved economic backdrop, and less exposure to supply chain and other inflationary risks versus other sectors. Citi with a $320 PT citing the robust biopharma backdrop and its favorable position for hybrid clinical trials as key growth drivers. Short interest is 1.17%. Hedge fund ownership fell 1%. LionTrust a buyer of $220M in stock.

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