ICON Public FY2024 EPS Estimate Lowered by Leerink Partnrs

ICON Public Limited (NASDAQ:ICLR) – Stock analysts at Leerink Partnrs lowered their FY2024 earnings per share (EPS) estimates for ICON Public in a research note issued to investors on Tuesday, November 19th. Leerink Partnrs analyst M. Cherny now anticipates that the medical research company will post earnings per share of $13.25 for the year, down from their previous estimate of $13.34. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for ICON Public’s current full-year earnings is $13.43 per share.

ICON Public (NASDAQ:ICLR) last released its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). ICON Public had a return on equity of 11.91% and a net margin of 9.00%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company posted $3.10 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis.

A number of other brokerages also recently issued reports on ICLR. Redburn Atlantic began coverage on ICON Public in a report on Monday, October 14th. They set a “neutral” rating and a $311.00 price target for the company. StockNews.com cut ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. dropped their price target on shares of ICON Public from $375.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. The Goldman Sachs Group reduced their price objective on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, Robert W. Baird lowered their target price on shares of ICON Public from $249.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $292.45.

ICON Public Price Performance

ICON Public stock opened at $203.67 on Wednesday. The stock has a market cap of $16.80 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. The company has a fifty day simple moving average of $261.38 and a 200-day simple moving average of $299.05. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. ICON Public has a 12-month low of $183.38 and a 12-month high of $347.72.

Institutional Investors Weigh In On ICON Public

Several hedge funds have recently made changes to their positions in ICLR. EverSource Wealth Advisors LLC lifted its position in ICON Public by 17.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock worth $95,000 after acquiring an additional 42 shares during the period. Arkadios Wealth Advisors raised its stake in shares of ICON Public by 5.0% during the third quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company’s stock worth $371,000 after purchasing an additional 62 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of ICON Public by 50.0% during the second quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock worth $82,000 after purchasing an additional 87 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in ICON Public by 23.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock valued at $147,000 after buying an additional 96 shares during the last quarter. Finally, WR Wealth Planners LLC increased its stake in ICON Public by 4.7% in the 2nd quarter. WR Wealth Planners LLC now owns 2,359 shares of the medical research company’s stock valued at $739,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds 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.