Research Analysts Set Expectations for ICON Public Limited’s FY2024 Earnings (NASDAQ:ICLR)

ICON Public Limited (NASDAQ:ICLR) – Research analysts at Leerink Partnrs issued their FY2024 earnings per share estimates for ICON Public in a research report issued to clients and investors on Wednesday, September 18th. Leerink Partnrs analyst M. Cherny anticipates that the medical research company will post earnings per share of $14.55 for the year. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for ICON Public’s current full-year earnings is $14.54 per share. Leerink Partnrs also issued estimates for ICON Public’s FY2025 earnings at $16.64 EPS, FY2026 earnings at $18.67 EPS and FY2027 earnings at $20.60 EPS.

ICON Public (NASDAQ:ICLR) last released its earnings results on Wednesday, July 24th. The medical research company reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.07. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the business posted $2.96 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis.

ICLR has been the subject of several other research reports. Barclays cut their target price on ICON Public from $355.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. William Blair reiterated an “outperform” rating on shares of ICON Public in a research report on Friday, May 31st. Truist Financial reiterated a “buy” rating and set a $383.00 target price on shares of ICON Public in a research report on Wednesday, September 11th. Leerink Partners initiated coverage on ICON Public in a report on Wednesday, September 18th. They set an “outperform” rating and a $379.00 price target for the company. Finally, StockNews.com cut ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ICON Public has a consensus rating of “Buy” and an average price target of $351.60.

ICON Public Stock Performance

NASDAQ:ICLR opened at $296.44 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. ICON Public has a 12-month low of $221.20 and a 12-month high of $347.72. The stock has a 50-day moving average price of $315.11 and a 200 day moving average price of $317.38. The stock has a market capitalization of $24.45 billion, a P/E ratio of 36.06, a P/E/G ratio of 1.29 and a beta of 1.22.

Hedge Funds Weigh In On ICON Public

A number of institutional investors and hedge funds have recently modified their holdings of ICLR. CIBC Private Wealth Group LLC boosted its holdings in shares of ICON Public by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 695,932 shares of the medical research company’s stock worth $196,998,000 after purchasing an additional 6,331 shares during the period. State of Tennessee Treasury Department boosted its holdings in shares of ICON Public by 4.9% in the 4th quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company’s stock worth $44,101,000 after purchasing an additional 7,270 shares during the period. Livelsberger Financial Advisory purchased a new position in shares of ICON Public in the 4th quarter worth approximately $29,000. GAMMA Investing LLC boosted its holdings in shares of ICON Public by 22.5% in the 1st quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock worth $58,000 after purchasing an additional 32 shares during the period. Finally, Steph & Co. boosted its holdings in shares of ICON Public by 11.2% in the 1st quarter. Steph & Co. now owns 1,852 shares of the medical research company’s stock worth $622,000 after purchasing an additional 186 shares during the period. Hedge funds and other 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.