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

ICON Public (NASDAQ:ICLR) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 14.500-15.300 for the period, compared to the consensus 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 Stock Down 1.2 %

NASDAQ:ICLR opened at $288.23 on Friday. ICON Public has a 1 year low of $181.92 and a 1 year high of $344.77. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.40. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 1.36 and a beta of 1.15. The stock has a 50-day moving average price of $316.95 and a two-hundred day moving average price of $280.84.

ICON Public (NASDAQ:ICLR) last posted its earnings results on Wednesday, February 21st. The medical research company reported $3.40 earnings per share (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 during the quarter, compared to analysts’ expectations of $2.08 billion. As a group, equities analysts expect that ICON Public will post 14.4 earnings per share for the current year.

Wall Street Analyst Weigh In

ICLR has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price on ICON Public from $345.00 to $362.00 and gave the company an outperform rating in a research note on Thursday, April 4th. 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 report on Friday, February 23rd. Mizuho reaffirmed a buy rating and set a $346.00 price objective on shares of ICON Public in a research report on Thursday, April 4th. Truist Financial upped their price objective on ICON Public from $357.00 to $367.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Finally, Barclays upped their price objective on ICON Public from $325.00 to $355.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $319.45.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ICLR. Chartwell Investment Partners LLC acquired a new position in ICON Public during the fourth quarter valued at approximately $794,000. State of Tennessee Treasury Department raised its stake in ICON Public by 2.4% in 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 period. SkyView Investment Advisors LLC bought a new stake in ICON Public in the first quarter valued at approximately $513,000. Captrust Financial Advisors raised its stake in ICON Public by 6.4% in the third quarter. Captrust Financial Advisors now owns 28,236 shares of the medical research company’s stock valued at $5,189,000 after buying an additional 1,705 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in ICON Public in the fourth quarter valued at approximately $201,000. 95.61% of the stock is owned by institutional investors and hedge funds.

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.