ICON Public FY2024 EPS Forecast Reduced by Leerink Partnrs

ICON Public Limited (NASDAQ:ICLR) – Investment analysts at Leerink Partnrs decreased their FY2024 earnings per share estimates for shares of ICON Public in a research note issued to investors 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 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 posted its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. ICON Public’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.10 EPS.

A number of other research firms have also weighed in on ICLR. StockNews.com lowered shares of ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. lowered their target price on ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday. Truist Financial cut their price target on ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Barclays reduced their price target on ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a report on Friday. Finally, Evercore ISI dropped their price objective on ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $310.45.

ICON Public Stock Down 0.6 %

Shares of NASDAQ:ICLR opened at $220.47 on Friday. The company has a 50 day moving average of $297.75 and a two-hundred day moving average of $310.20. ICON Public has a 52-week low of $220.01 and a 52-week high of $347.72. 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 price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

Institutional Investors Weigh In On ICON Public

Institutional investors and hedge funds have recently made changes to their positions in the company. Arkadios Wealth Advisors bought a new stake in shares of ICON Public during the 1st quarter valued at about $247,000. Whittier Trust Co. boosted its stake in ICON Public by 21.9% in the first quarter. Whittier Trust Co. now owns 3,295 shares of the medical research company’s stock valued at $1,107,000 after acquiring an additional 593 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in ICON Public by 410.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 189 shares of the medical research company’s stock valued at $63,000 after acquiring an additional 152 shares during the period. First National Bank of Hutchinson raised its position in shares of ICON Public by 5.7% during the 1st quarter. First National Bank of Hutchinson now owns 1,135 shares of the medical research company’s stock worth $381,000 after purchasing an additional 61 shares during the period. Finally, Motco raised its position in shares of ICON Public by 1.5% during the 1st quarter. Motco now owns 3,882 shares of the medical research company’s stock worth $1,304,000 after purchasing an additional 59 shares during the period. 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.