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

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

Analysts Set New Price Targets

Several brokerages have recently commented on ICLR. Barclays raised their price target on ICON Public from $325.00 to $355.00 and gave the company an overweight rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. lifted their target price on ICON Public from $295.00 to $330.00 and gave the company an overweight rating in a research note on Wednesday, December 20th. Evercore ISI lifted their target price on ICON Public from $325.00 to $350.00 and gave the company an outperform rating in a research note on Friday, February 23rd. Mizuho reiterated a buy rating and issued a $346.00 target price on shares of ICON Public in a research note on Thursday, April 4th. Finally, Truist Financial lifted their target price on ICON Public from $357.00 to $367.00 and gave the company a buy rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, ICON Public presently has an average rating of Moderate Buy and an average price target of $319.45.

ICON Public Stock Performance

Shares of ICON Public stock traded down $0.20 on Thursday, reaching $291.82. 496,031 shares of the stock were exchanged, compared to its average volume of 543,114. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. ICON Public has a twelve month low of $181.92 and a twelve month high of $344.77. The firm has a market capitalization of $24.08 billion, a price-to-earnings ratio of 39.54, a PEG ratio of 1.39 and a beta of 1.15. The business has a 50 day moving average price of $316.75 and a two-hundred day moving average price of $280.25.

ICON Public (NASDAQ:ICLR - Get Free Report) last released its earnings results on Wednesday, February 21st. The medical research company reported $3.40 EPS for the quarter, topping 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 the consensus estimate of $2.08 billion. Analysts anticipate that ICON Public will post 14.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ICLR. Laurel Wealth Advisors Inc. lifted its holdings in ICON Public by 2.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 2,708 shares of the medical research company's stock valued at $658,000 after acquiring an additional 54 shares during the period. KB Financial Partners LLC lifted its holdings in 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 valued at $424,000 after acquiring an additional 330 shares during the period. Captrust Financial Advisors lifted its holdings in ICON Public by 4.8% in the second quarter. Captrust Financial Advisors now owns 28,338 shares of the medical research company's stock valued at $6,141,000 after acquiring an additional 1,296 shares during the period. Alpha Paradigm Partners LLC acquired a new position in ICON Public in the third quarter valued at approximately $123,000. Finally, Chartwell Investment Partners LLC acquired a new position in ICON Public in the fourth quarter valued at approximately $794,000. 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.