ICON Public (NASDAQ:ICLR) Issues FY24 Earnings Guidance

ICON Public (NASDAQ:ICLR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $14.50-15.30 for the period, compared to the consensus estimate of $14.95. The company issued revenue guidance of $8.4-8.8 billion, compared to the consensus revenue estimate of $8.64 billion.

ICON Public Stock Performance

Shares of ICLR stock traded down $1.58 during trading hours on Wednesday, reaching $321.09. 530,818 shares of the company’s stock were exchanged, compared to its average volume of 565,842. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 1.21. ICON Public has a 1 year low of $181.92 and a 1 year high of $344.77. The company has a market cap of $26.49 billion, a P/E ratio of 43.51, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15. The company’s 50 day moving average is $306.37 and its two-hundred day moving average is $275.94.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, February 21st. The medical research company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.13. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.08 billion. ICON Public had a return on equity of 11.42% and a net margin of 7.54%. Equities research analysts anticipate that ICON Public will post 14.4 EPS for the current fiscal year.

Analysts Set New Price Targets

ICLR has been the subject of a number of research reports. Evercore ISI boosted their price target on ICON Public from $325.00 to $350.00 and gave the company an outperform rating in a research report on Friday, February 23rd. Mizuho increased their target price on shares of ICON Public from $315.00 to $346.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Truist Financial lifted their price target on shares of ICON Public from $357.00 to $367.00 and gave the company a buy rating in a research report on Friday, February 23rd. Citigroup raised their target price on shares of ICON Public from $300.00 to $315.00 and gave the company a buy rating in a research note on Monday, December 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of ICON Public from $295.00 to $330.00 and gave the stock an overweight rating in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, ICON Public has an average rating of Moderate Buy and an average price target of $312.64.

Institutional Investors Weigh In On ICON Public

Several institutional investors and hedge funds have recently bought and sold shares of ICLR. Chartwell Investment Partners LLC lifted its stake in ICON Public by 23.5% in the fourth quarter. Chartwell Investment Partners LLC now owns 8,589 shares of the medical research company’s stock valued at $2,431,000 after buying an additional 1,636 shares during the last quarter. LM Advisors LLC purchased a new position in shares of ICON Public in the fourth quarter worth approximately $26,000. Crossmark Global Holdings Inc. acquired a new position in ICON Public during the fourth quarter valued at $201,000. State of Tennessee Treasury Department lifted its position in ICON Public by 2.4% in the 2nd quarter. State of Tennessee Treasury Department now owns 110,747 shares of the medical research company’s stock worth $27,709,000 after buying an additional 2,605 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its holdings in shares of ICON Public by 4.4% during the 2nd quarter. SkyView Investment Advisors LLC now owns 2,505 shares of the medical research company’s stock valued at $627,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

ICON Public Company Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.