ICON Public (NASDAQ:ICLR) Updates FY 2024 Earnings Guidance

ICON Public (NASDAQ:ICLR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 14.500-15.300 for the period, compared to the consensus earnings per share estimate of 14.940. The company issued revenue guidance of $8.4 billion-$8.8 billion, compared to the consensus revenue estimate of $8.6 billion.

Analysts Set New Price Targets

Several brokerages have recently commented on ICLR. Mizuho restated a buy rating and issued a $346.00 price objective on shares of ICON Public in a research report on Thursday, April 4th. Evercore ISI boosted their price objective on ICON Public from $325.00 to $350.00 and gave the company an outperform rating in a research report on Friday, February 23rd. Truist Financial boosted their price objective on ICON Public from $357.00 to $367.00 and gave the company a buy rating in a research report on Friday, February 23rd. Barclays boosted their price objective on ICON Public from $325.00 to $355.00 and gave the company an overweight rating in a research report on Friday, February 23rd. Finally, Robert W. Baird lifted their target price on ICON Public from $345.00 to $362.00 and gave the stock an outperform rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $319.45.

ICON Public Trading Down 1.2 %

Shares of NASDAQ ICLR opened at $288.23 on Friday. The business’s 50 day moving average is $316.95 and its two-hundred day moving average is $280.56. 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 stock has a market capitalization of $23.78 billion, a P/E ratio of 39.06, a PEG ratio of 1.38 and a beta of 1.15.

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

Institutional Investors Weigh In On ICON Public

Several large investors have recently added to or reduced their stakes in ICLR. State of Tennessee Treasury Department grew its stake in shares of ICON Public by 2.4% during the second quarter. State of Tennessee Treasury Department now owns 110,747 shares of the medical research company’s stock valued at $27,709,000 after buying an additional 2,605 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of ICON Public by 4.8% in the second quarter. Captrust Financial Advisors now owns 28,338 shares of the medical research company’s stock valued at $6,141,000 after purchasing an additional 1,296 shares during the period. Chartwell Investment Partners LLC boosted its holdings in shares of 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 purchasing an additional 1,636 shares during the period. Laurel Wealth Advisors Inc. boosted its holdings in shares of ICON Public by 2.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 2,708 shares of the medical research company’s stock valued at $658,000 after purchasing an additional 54 shares during the period. Finally, KB Financial Partners LLC boosted its holdings in shares of ICON Public by 3.6% in the second quarter. KB Financial Partners LLC now owns 2,562 shares of the medical research company’s stock valued at $641,000 after purchasing an additional 88 shares during the period. 95.61% of the stock is owned by institutional investors.

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.