Leerink Partnrs Lowers Earnings Estimates for ICON Public

ICON Public Limited (NASDAQ:ICLR - Free Report) - Stock analysts at Leerink Partnrs cut their FY2024 EPS estimates for shares of 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 earn $13.25 per share for the year, down from their prior 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 - Get Free Report) last issued 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). ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company posted $3.10 EPS. The business's revenue was down 1.2% compared to the same quarter last year.

ICLR has been the subject of several other research reports. Leerink Partners reiterated an "outperform" rating and issued a $255.00 price objective (down previously from $270.00) on shares of ICON Public in a research note on Tuesday. Evercore ISI decreased their price target on shares of ICON Public from $360.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, October 8th. TD Cowen cut their price objective on shares of ICON Public from $369.00 to $285.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Truist Financial decreased their target price on ICON Public from $363.00 to $295.00 and set a "buy" rating for the company in a research report on Monday, October 28th. Finally, Robert W. Baird decreased their price objective on 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, ICON Public presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.45.

ICON Public Trading Up 3.3 %

ICLR stock traded up $6.44 during mid-day trading on Wednesday, reaching $202.04. The company's stock had a trading volume of 711,936 shares, compared to its average volume of 714,179. ICON Public has a 12 month low of $183.38 and a 12 month high of $347.72. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. The business's 50 day moving average price is $263.10 and its 200 day moving average price is $299.72. The company has a market cap of $16.67 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25.

Hedge Funds Weigh In On ICON Public

Several institutional investors have recently modified their holdings of the business. Liontrust Investment Partners LLP lifted its holdings in 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 worth $37,531,000 after acquiring an additional 19,546 shares during the period. Kornitzer Capital Management Inc. KS increased its position in shares of ICON Public by 15.9% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company's stock valued at $30,016,000 after purchasing an additional 13,163 shares during the last quarter. Foyston Gordon & Payne Inc bought a new stake in shares of ICON Public during the 3rd quarter worth $11,672,000. Icon Wealth Advisors LLC boosted its holdings in shares of ICON Public by 861.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company's stock worth $3,797,000 after buying an additional 11,840 shares during the last quarter. Finally, Whittier Trust Co. boosted its holdings in shares of ICON Public by 12.3% in the 3rd quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company's stock worth $1,155,000 after buying an additional 441 shares during the last quarter. 95.61% of the stock is owned by institutional investors.

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.