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

ICON Public (NASDAQ:ICLR) updated its FY 2024 earnings guidance on Thursday. 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 analysts recently issued reports on the company. Truist Financial boosted their price target on ICON Public from $357.00 to $367.00 and gave the company a buy rating in a report on Friday, February 23rd. Robert W. Baird boosted their price objective on shares of ICON Public from $345.00 to $362.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Barclays boosted their price objective on shares of ICON Public from $325.00 to $355.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. Mizuho reissued a buy rating and issued a $346.00 price objective on shares of ICON Public in a research note on Thursday, April 4th. Finally, Evercore ISI boosted their price objective on shares of ICON Public from $325.00 to $350.00 and gave the stock an outperform rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $319.45.

ICON Public Price Performance

NASDAQ:ICLR opened at $291.82 on Friday. ICON Public has a 52 week low of $181.92 and a 52 week high of $344.77. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $24.08 billion, a PE ratio of 39.54, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15. The stock’s 50-day moving average price is $316.75 and its 200-day moving average price is $280.25.

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

Institutional Investors Weigh In On ICON Public

A number of institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. boosted its holdings in ICON Public by 10.9% in the 1st quarter. First Horizon Advisors Inc. now owns 551 shares of the medical research company’s stock worth $118,000 after buying an additional 54 shares during the last quarter. Laurel Wealth Advisors Inc. boosted its holdings in ICON Public by 2.0% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 2,708 shares of the medical research company’s stock worth $658,000 after buying an additional 54 shares during the last quarter. KB Financial Partners LLC boosted its holdings in ICON Public by 3.6% in the 2nd quarter. KB Financial Partners LLC now owns 2,562 shares of the medical research company’s stock worth $641,000 after buying an additional 88 shares during the last quarter. LM Advisors LLC acquired a new stake in ICON Public in the 4th quarter worth about $26,000. Finally, SkyView Investment Advisors LLC boosted its holdings in ICON Public by 4.4% in the 2nd quarter. SkyView Investment Advisors LLC now owns 2,505 shares of the medical research company’s stock worth $627,000 after buying an additional 105 shares during the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

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.