ICON Public (NASDAQ:ICLR) Updates FY24 Earnings Guidance

ICON Public (NASDAQ:ICLR - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $14.50-15.30 for the period, compared to the consensus estimate of $14.95. The company issued revenue guidance of $8.4-8.8 billion, compared to the consensus revenue estimate of $8.64 billion.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ICLR. JPMorgan Chase & Co. raised their price target on ICON Public from $295.00 to $330.00 and gave the company an overweight rating in a report on Wednesday, December 20th. Truist Financial lifted their target price on shares of ICON Public from $357.00 to $367.00 and gave the stock a buy rating in a report on Friday, February 23rd. Mizuho increased their price target on shares of ICON Public from $315.00 to $346.00 and gave the company a buy rating in a report on Friday, February 23rd. Barclays boosted their price objective on ICON Public from $325.00 to $355.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Finally, Evercore ISI increased their target price on ICON Public from $325.00 to $350.00 and gave the stock an outperform rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $312.64.

ICON Public Price Performance

Shares of ICLR stock traded down $1.58 during trading on Wednesday, hitting $321.09. The company had a trading volume of 530,818 shares, compared to its average volume of 565,858. The firm has a market capitalization of $26.49 billion, a P/E ratio of 43.51, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15. ICON Public has a one year low of $181.92 and a one year high of $344.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.21 and a current ratio of 1.21. The stock's 50-day moving average price is $307.52 and its 200 day moving average price is $276.25.

ICON Public (NASDAQ:ICLR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The medical research company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.13. The firm had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.08 billion. ICON Public had a return on equity of 11.42% and a net margin of 7.54%. Equities analysts expect that ICON Public will post 14.4 EPS for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Large investors have recently bought and sold shares of the company. State of Tennessee Treasury Department lifted 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 acquiring an additional 2,605 shares during the period. Captrust Financial Advisors boosted its holdings in shares of ICON Public by 4.8% in the 2nd quarter. Captrust Financial Advisors now owns 28,338 shares of the medical research company's stock valued at $6,141,000 after purchasing an additional 1,296 shares in the last quarter. Chartwell Investment Partners LLC increased its stake in shares of ICON Public by 23.5% in the 4th quarter. Chartwell Investment Partners LLC now owns 8,589 shares of the medical research company's stock valued at $2,431,000 after purchasing an additional 1,636 shares during the last quarter. Laurel Wealth Advisors Inc. raised its holdings in shares of ICON Public by 2.0% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 2,708 shares of the medical research company's stock worth $658,000 after buying an additional 54 shares in the last quarter. Finally, KB Financial Partners LLC lifted its position in shares of ICON Public by 3.6% during the 2nd quarter. KB Financial Partners LLC now owns 2,562 shares of the medical research company's stock worth $641,000 after buying an additional 88 shares during the last quarter. 95.61% of the stock is currently 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.