FY2024 EPS Estimates for ICON Public Lowered by Analyst

ICON Public Limited (NASDAQ:ICLR) – Research analysts at Leerink Partnrs reduced their FY2024 EPS estimates for ICON Public in a research note issued to investors on Wednesday, October 23rd. Leerink Partnrs analyst M. Cherny now expects that the medical research company will post earnings of $14.50 per share for the year, down from their prior estimate of $14.55. 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 $16.27 EPS, FY2026 earnings at $18.15 EPS and FY2027 earnings at $20.17 EPS.

Several other equities analysts have also issued reports on ICLR. Redburn Atlantic started coverage on ICON Public in a research note on Monday, October 14th. They set a “neutral” rating and a $311.00 price target on the stock. StockNews.com cut ICON Public from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Truist Financial lowered their price target on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Evercore ISI decreased their target price on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Finally, Barclays dropped their price target on shares of ICON Public from $350.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $346.09.

ICON Public Trading Down 21.0 %

Shares of ICLR stock opened at $221.73 on Friday. The firm has a market capitalization of $18.29 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. ICON Public has a 1 year low of $220.51 and a 1 year high of $347.72. The firm’s fifty day simple moving average is $299.79 and its 200 day simple moving average is $310.96. 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 (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business posted $3.10 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ICLR. Liontrust Investment Partners LLP grew its stake in shares of ICON Public by 19.5% during the second quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock valued at $37,531,000 after purchasing an additional 19,546 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in ICON Public by 15.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock valued at $30,016,000 after acquiring an additional 13,163 shares during the last quarter. Whittier Trust Co. raised its position in shares of ICON Public by 12.3% during the 3rd quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock valued at $1,155,000 after acquiring an additional 441 shares during the last quarter. Sara Bay Financial acquired a new position in shares of ICON Public in the 3rd quarter valued at $1,143,000. Finally, Motco grew its stake in shares of ICON Public by 1.5% during the first 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. 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.