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

A number of research firms have recently weighed in on ICLR. JPMorgan Chase & Co. boosted their target price on ICON Public from $295.00 to $330.00 and gave the stock an overweight rating in a research report on Wednesday, December 20th. Evercore ISI boosted their target price on ICON Public from $325.00 to $350.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. Truist Financial boosted their target price on ICON Public from $357.00 to $367.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Barclays lifted their price objective on ICON Public from $325.00 to $355.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. Finally, Mizuho reaffirmed a buy rating and set a $346.00 price objective on shares of ICON Public in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $319.45.

ICON Public Stock Down 0.7 %

ICLR stock opened at $292.02 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market capitalization of $24.09 billion, a P/E ratio of 39.57, a P/E/G ratio of 1.39 and a beta of 1.15. The business has a 50-day moving average of $316.39 and a 200-day moving average of $280.17. ICON Public has a fifty-two week low of $181.92 and a fifty-two week high of $344.77.

ICON Public (NASDAQ:ICLR) last posted 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. The company had revenue of $2.07 billion during 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%. On average, sell-side analysts anticipate that ICON Public will post 14.4 earnings per share for the current fiscal year.

Institutional Trading of ICON Public

Institutional investors and hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors raised its holdings in ICON Public by 4.8% during the second quarter. Captrust Financial Advisors now owns 28,338 shares of the medical research company’s stock worth $6,141,000 after acquiring an additional 1,296 shares in the last quarter. Chartwell Investment Partners LLC raised its holdings in ICON Public by 23.5% during the fourth quarter. Chartwell Investment Partners LLC now owns 8,589 shares of the medical research company’s stock worth $2,431,000 after acquiring an additional 1,636 shares in the last quarter. Laurel Wealth Advisors Inc. raised its holdings in ICON Public by 2.0% during the first quarter. Laurel Wealth Advisors Inc. now owns 2,708 shares of the medical research company’s stock worth $658,000 after acquiring an additional 54 shares in the last quarter. KB Financial Partners LLC raised its holdings in ICON Public by 3.6% during the second quarter. KB Financial Partners LLC now owns 2,562 shares of the medical research company’s stock worth $641,000 after acquiring an additional 88 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in ICON Public by 4.4% during the second quarter. SkyView Investment Advisors LLC now owns 2,505 shares of the medical research company’s stock worth $627,000 after acquiring an additional 105 shares in the last quarter. Institutional investors own 95.61% of the company’s stock.

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.