Brokers Offer Predictions for ICON Public FY2024 Earnings

ICON Public Limited (NASDAQ:ICLR) – Analysts at Leerink Partnrs cut their FY2024 earnings per share estimates for shares of ICON Public in a research note issued on Wednesday, October 23rd. Leerink Partnrs analyst M. Cherny now anticipates that the medical research company will earn $14.50 per share for the year, down from their previous estimate of $14.55. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for ICON Public’s current full-year earnings is $14.53 per share. Leerink Partnrs also issued estimates for ICON Public’s FY2025 earnings at $16.27 EPS, FY2026 earnings at $18.15 EPS and FY2027 earnings at $20.17 EPS.

ICON Public (NASDAQ:ICLR) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted $3.10 EPS. The firm’s revenue was down 1.2% on a year-over-year basis.

Several other analysts also recently weighed in on the company. Redburn Atlantic assumed coverage on ICON Public in a research note on Monday, October 14th. They issued a “neutral” rating and a $311.00 price target on the stock. Leerink Partners cut their price target on ICON Public from $376.00 to $270.00 and set an “outperform” rating on the stock in a research note on Friday. Robert W. Baird downgraded ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price target on the stock. in a research note on Thursday. Baird R W downgraded ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Barclays cut their target price on ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a research note on Friday. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $310.45.

ICON Public Stock Performance

ICON Public stock opened at $220.47 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $18.19 billion, a P/E ratio of 25.70, a PEG ratio of 1.35 and a beta of 1.22. The stock’s 50 day moving average is $297.75 and its 200 day moving average is $310.26. ICON Public has a twelve month low of $220.01 and a twelve month high of $347.72.

Hedge Funds Weigh In On ICON Public

A number of institutional investors and hedge funds have recently modified their holdings of ICLR. Liontrust Investment Partners LLP boosted its stake in shares of ICON Public by 19.5% in the 2nd quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock worth $37,531,000 after buying an additional 19,546 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of ICON Public by 15.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock worth $30,016,000 after buying an additional 13,163 shares during the last quarter. Sara Bay Financial purchased a new position in shares of ICON Public in the 3rd quarter worth $1,143,000. SkyView Investment Advisors LLC purchased a new position in shares of ICON Public in the 1st quarter worth $1,021,000. Finally, Crestwood Advisors Group LLC purchased a new position in shares of ICON Public in the 2nd quarter worth $288,000. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

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.