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.

ICON Public Trading Down 0.1 %

NASDAQ:ICLR opened at $291.82 on Friday. ICON Public has a twelve month low of $181.92 and a twelve month 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 business has a 50 day moving average price of $316.75 and a two-hundred day moving average price of $280.25. The company has a market cap of $24.08 billion, a P/E ratio of 39.54, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15.

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. 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 during the quarter, compared to the consensus estimate of $2.08 billion. As a group, analysts expect that ICON Public will post 14.4 EPS for the current fiscal year.

Analyst Ratings Changes

ICLR has been the subject of a number of recent research reports. Mizuho reaffirmed a buy rating and set a $346.00 price target on shares of ICON Public in a research report on Thursday, April 4th. Barclays upped 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. Evercore ISI upped their price objective on ICON Public from $325.00 to $350.00 and gave the stock an outperform rating in a research note on Friday, February 23rd. Robert W. Baird upped their price objective on ICON Public from $345.00 to $362.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Finally, Truist Financial increased their price target on ICON Public from $357.00 to $367.00 and gave the company a buy rating in a research note on Friday, February 23rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $319.45.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ICLR. State of Tennessee Treasury Department grew its holdings in shares of ICON Public by 2.4% during 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 purchasing an additional 2,605 shares in the last quarter. Captrust Financial Advisors boosted its stake in 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 buying an additional 1,296 shares in the last quarter. Chartwell Investment Partners LLC boosted 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 in the last quarter. Laurel Wealth Advisors Inc. boosted its stake in 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 buying an additional 54 shares in the last quarter. Finally, KB Financial Partners LLC boosted its stake in shares of 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 valued at $641,000 after purchasing an additional 88 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.