William Blair Increases Earnings Estimates for ICON Public

ICON Public Limited (NASDAQ:ICLR) – Equities research analysts at William Blair increased their FY2024 earnings per share (EPS) estimates for shares of ICON Public in a research note issued to investors on Wednesday, January 15th. William Blair analyst M. Smock now anticipates that the medical research company will post earnings of $13.55 per share for the year, up from their prior estimate of $13.40. William Blair has a “Outperform” rating on the stock. The consensus estimate for ICON Public’s current full-year earnings is $13.44 per share. William Blair also issued estimates for ICON Public’s FY2025 earnings at $13.33 EPS.

Other equities analysts also recently issued research reports about the company. Redburn Atlantic assumed coverage on ICON Public in a research note on Monday, October 14th. They issued a “neutral” rating and a $311.00 target price on the stock. The Goldman Sachs Group decreased their target price on ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Citigroup cut their price target on shares of ICON Public from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Leerink Partners restated an “outperform” rating and set a $255.00 price objective (down previously from $270.00) on shares of ICON Public in a report on Tuesday, November 19th. Finally, Evercore ISI reduced their target price on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $287.00.

ICON Public Stock Performance

NASDAQ ICLR opened at $205.07 on Monday. ICON Public has a 1 year low of $183.38 and a 1 year high of $347.72. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.48 and a beta of 1.20. The company has a fifty day moving average price of $209.29 and a 200-day moving average price of $265.86. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34.

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

Hedge Funds Weigh In On ICON Public

Several hedge funds and other institutional investors have recently modified their holdings of ICLR. Foyston Gordon & Payne Inc purchased a new stake in ICON Public in the third quarter worth about $11,672,000. Icon Wealth Advisors LLC raised its stake in ICON Public by 861.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock worth $3,797,000 after acquiring an additional 11,840 shares during the period. Whittier Trust Co. lifted its holdings in ICON Public by 12.3% during the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock valued at $1,155,000 after purchasing an additional 441 shares in the last quarter. Sara Bay Financial bought a new position in shares of ICON Public in the third quarter worth approximately $1,143,000. Finally, Tributary Capital Management LLC increased its stake in shares of ICON Public by 116.1% in the fourth quarter. Tributary Capital Management LLC now owns 3,950 shares of the medical research company’s stock worth $828,000 after purchasing an additional 2,122 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

ICON Public Company Profile

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.