ICON Public (NASDAQ:ICLR) Releases 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 (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.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Robert W. Baird lifted 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. Barclays lifted their target price on ICON Public from $325.00 to $355.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Evercore ISI lifted their target price on ICON Public from $325.00 to $350.00 and gave the stock an outperform rating in a report on Friday, February 23rd. JPMorgan Chase & Co. lifted their target price on ICON Public from $295.00 to $330.00 and gave the stock an overweight rating in a report on Wednesday, December 20th. Finally, Mizuho restated a buy rating and issued a $346.00 target price on shares of ICON Public in a report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $319.45.

ICON Public Stock Performance

Shares of ICLR stock opened at $292.02 on Thursday. 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 company has a market capitalization of $24.09 billion, a price-to-earnings ratio of 39.57, a P/E/G ratio of 1.39 and a beta of 1.15. The stock’s fifty day simple moving average is $316.39 and its 200-day simple moving average is $280.17.

ICON Public (NASDAQ:ICLR) last issued 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 the consensus estimate of $2.08 billion. On average, sell-side analysts predict that ICON Public will post 14.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. LM Advisors LLC purchased a new position in ICON Public in the fourth quarter valued at about $26,000. First Horizon Advisors Inc. lifted its position in shares of ICON Public by 10.9% in the first 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. Alpha Paradigm Partners LLC acquired a new stake in shares of ICON Public in the third quarter worth about $123,000. Crossmark Global Holdings Inc. acquired a new stake in shares of ICON Public in the fourth quarter worth about $201,000. Finally, KB Financial Partners LLC lifted its position in shares of ICON Public by 23.4% in the first quarter. KB Financial Partners LLC now owns 1,742 shares of the medical research company’s stock worth $424,000 after buying an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

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.