Zacks: Brokerages Anticipate ICON Public Limited (NASDAQ:ICLR) Will Post Quarterly Sales of $748.50 Million

Analysts forecast that ICON Public Limited (NASDAQ:ICLR) will announce sales of $748.50 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for ICON Public’s earnings, with the highest sales estimate coming in at $763.88 million and the lowest estimate coming in at $738.75 million. ICON Public posted sales of $725.41 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The business is expected to announce its next quarterly earnings results on Wednesday, February 24th.

On average, analysts expect that ICON Public will report full-year sales of $2.79 billion for the current financial year, with estimates ranging from $2.78 billion to $2.80 billion. For the next year, analysts anticipate that the firm will report sales of $3.14 billion, with estimates ranging from $3.06 billion to $3.21 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover ICON Public.

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Separately, Zacks Investment Research upgraded ICON Public from a “sell” rating to a “hold” rating in a research report on Wednesday, January 13th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. ICON Public has a consensus rating of “Hold” and a consensus target price of $185.00.

A number of institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors raised its stake in ICON Public by 3.8% during the 4th quarter. Captrust Financial Advisors now owns 26,572 shares of the medical research company’s stock worth $5,181,000 after buying an additional 981 shares during the period. Handelsbanken Fonder AB raised its stake in shares of ICON Public by 23.7% in the 4th quarter. Handelsbanken Fonder AB now owns 18,430 shares of the medical research company’s stock valued at $3,593,000 after purchasing an additional 3,530 shares during the period. Fayez Sarofim & Co raised its stake in shares of ICON Public by 54.4% in the 4th quarter. Fayez Sarofim & Co now owns 3,180 shares of the medical research company’s stock valued at $620,000 after purchasing an additional 1,120 shares during the period. FDx Advisors Inc. raised its stake in shares of ICON Public by 16.2% in the 4th quarter. FDx Advisors Inc. now owns 9,792 shares of the medical research company’s stock valued at $1,909,000 after purchasing an additional 1,365 shares during the period. Finally, Todd Asset Management LLC raised its stake in shares of ICON Public by 18.6% in the 4th quarter. Todd Asset Management LLC now owns 103,487 shares of the medical research company’s stock valued at $20,177,000 after purchasing an additional 16,225 shares during the period. 81.70% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ ICLR traded down $1.32 during trading hours on Thursday, reaching $206.93. 7,997 shares of the company’s stock were exchanged, compared to its average volume of 218,942. The stock has a market cap of $11.10 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. The firm has a fifty day moving average of $208.58 and a 200-day moving average of $195.65. ICON Public has a one year low of $104.28 and a one year high of $223.62.

ICON Public Company Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It 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.

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