RESEARCH TRIANGLE PARK, N.C. - IQVIA (NYSE:IQV), a global provider of advanced analytics, technology solutions, and clinical research services generating over $15.3 billion in annual revenue, announced today a strategic collaboration with technology giant NVIDIA (NASDAQ:NVDA). According to InvestingPro analysis, IQVIA currently appears undervalued, making this announcement particularly significant for investors tracking the company's $36.9 billion market cap position. This partnership aims to enhance the application of artificial intelligence (AI) in healthcare and life sciences.
The collaboration will leverage IQVIA's Healthcare-grade AI™ and Connected Intelligence™, which include the company's data assets, analytics, and domain expertise, with NVIDIA's AI Foundry service. As an InvestingPro Tip highlights, IQVIA maintains its position as a prominent player in the Life Sciences Tools & Services industry, with strong financial health metrics supporting its innovation initiatives. The goal is to transform life science processes from research and development (R&D) to commercialization. The initiative is expected to improve patient outcomes by creating new efficiencies and enabling new operating models.
Bhavik Patel, president of IQVIA's Commercial Solutions, stated that the integration of NVIDIA's advanced AI technologies with IQVIA's industry-leading capabilities marks a significant advancement in the application of AI within the sector. The partnership is set to produce AI-driven solutions that are trained on healthcare information and optimized for life sciences workflows.
NVIDIA's contribution includes its AI Foundry platform and services, which will help IQVIA create custom AI models and agents for the numerous complex workflows in healthcare and life sciences. Kimberly Powell, NVIDIA's vice president of healthcare, highlighted the potential of AI agents to act as digital companions to researchers, doctors, and patients, enhancing productivity and expanding global access to care.
The collaboration also involves deploying the NVIDIA AI Blueprint for multi-modal data extraction, which will enable the utilization of information previously inaccessible to AI models and agents. IQVIA will benefit from NVIDIA's NIM microservices, NeMo, the DGX Cloud platform, and direct support from NVIDIA's research and engineering teams. The initial AI solutions from this partnership are expected to reach the market within the calendar year.
IQVIA is recognized for its commitment to protecting individual patient privacy while providing insights to healthcare stakeholders. The company's solutions are designed to improve patient outcomes and advance the path toward cures.
The information for this article is based on a press release statement. InvestingPro data shows IQVIA maintains an excellent financial health score of 3.12 (rated as "GREAT"), suggesting strong operational fundamentals. Discover more exclusive insights and 7 additional ProTips about IQVIA through InvestingPro's comprehensive research reports, available for over 1,400 US stocks.
In other recent news, IQVIA Holdings (NYSE:IQV) has seen a number of adjustments in stock price targets from various analyst firms. Truist Securities reduced the target to $261 but maintained a Buy rating, citing the company's growth prospects. Meanwhile, Jefferies kept its Hold rating while raising the price target to $200, noting a manageable revenue growth outlook. TD Cowen also held onto its Buy rating but lowered the price target from $255 to $250, expressing cautious optimism about IQVIA's long-term earnings potential. Baird adjusted the target down to $212, maintaining a Neutral rating due to underperformance in certain sectors. Lastly, Deutsche Bank (ETR:DBKGn) reduced its target to $260 but reiterated a Buy rating, emphasizing improving end-market prospects.
These adjustments followed IQVIA's Investor Day event, where the company discussed its strategic position within the Contract Research Organization industry and its growth targets. The company reported a year-over-year growth in Q3 revenue of 4.3%, reaching $3.896 billion, and a 14% increase in adjusted diluted EPS to $2.84. Furthermore, despite a significant cancellation, IQVIA's backlog expanded by 8% year-over-year to reach a record $31.1 billion.
These are some of the recent developments surrounding IQVIA. The company's strategic partnerships, financial growth, and analyst adjustments continue to shape the dynamic environment for IQVIA. However, it's important to note that all these revisions and projections are from analysts and not from IQVIA itself.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.