Research Analysts Set Expectations for ICON Public Limited’s FY2024 Earnings (NASDAQ:ICLR)

ICON Public Limited (NASDAQ:ICLR) – Stock analysts at Leerink Partnrs issued their FY2024 earnings per share (EPS) estimates for ICON Public in a research report issued to clients and investors on Wednesday, September 18th. Leerink Partnrs analyst M. Cherny forecasts that the medical research company will earn $14.55 per share for the year. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for ICON Public’s current full-year earnings is $14.54 per share. Leerink Partnrs also issued estimates for ICON Public’s FY2025 earnings at $16.64 EPS, FY2026 earnings at $18.67 EPS and FY2027 earnings at $20.60 EPS.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.75 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.07. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.14 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.96 earnings per share.

Several other brokerages have also recently weighed in on ICLR. Barclays reduced their price target on ICON Public from $355.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. StockNews.com cut ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Robert W. Baird cut their target price on ICON Public from $368.00 to $340.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. TD Cowen increased their target price on ICON Public from $349.00 to $373.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, William Blair reissued an “outperform” rating on shares of ICON Public in a research note on Friday, May 31st. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ICON Public currently has an average rating of “Buy” and a consensus price target of $351.60.

ICON Public Price Performance

Shares of ICLR stock opened at $296.44 on Monday. The stock has a market cap of $24.45 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 1.29 and a beta of 1.22. The business’s fifty day moving average is $315.11 and its 200 day moving average is $317.38. ICON Public has a twelve month low of $221.20 and a twelve month high of $347.72. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of ICON Public by 39.2% during the second quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock valued at $129,000 after purchasing an additional 111 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in ICON Public in the second quarter valued at about $54,000. Kornitzer Capital Management Inc. KS lifted its holdings in ICON Public by 15.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock valued at $30,016,000 after acquiring an additional 13,163 shares during the period. Crestwood Advisors Group LLC bought a new position in ICON Public in the second quarter valued at about $288,000. Finally, WR Wealth Planners LLC lifted its holdings in ICON Public by 4.7% in the second quarter. WR Wealth Planners LLC now owns 2,359 shares of the medical research company’s stock valued at $739,000 after acquiring an additional 105 shares during the period. 95.61% of the stock is owned by institutional investors.

About ICON Public

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.