IQVIA Holdings (IQV) Prices $2b Notes, Does The Stock Look Fairly Valued?

IQVIA Holdings (IQV) has just priced a US$2b senior notes offering due 2034, a sizable refinancing move that reshapes its debt stack and gives investors fresh information on the company’s funding costs and capital structure. Over the past year IQVIA Holdings has delivered a 42.3% total shareholder return, with the share price up 58.8% over the last 90 days and 6.9% over the past month. The recent 1.1% daily pullback to US$266.42 therefore looks more like a pause after strong momentum than a...