Are Smart Investors Making the Right Decision? ICON Public Limited Company (ICLR)

ICON Public Limited Company (NASDAQ: ICLR) stock fell -2.46% on Wednesday to $206.86 against a previous-day closing price of $212.07. With 0.57 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.62 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $208.27 whereas the lowest price it dropped to was $203.01. The 52-week range on ICLR shows that it touched its highest point at $249.62 and its lowest point at $171.43 during that stretch. It currently has a 1-year price target of $249.79. Beta for the stock currently stands at 1.10.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ICLR was down-trending over the past week, with a drop of -1.80%, but this was up by 1.79% over a month. Three-month performance dropped to -7.29% while six-month performance fell -4.33%. The stock lost -4.93% in the past year, while it has gained 6.49% so far this year. A look at the trailing 12-month EPS for ICLR yields 6.18 with Next year EPS estimates of 14.54. For the next quarter, that number is 3.08. This implies an EPS growth rate of 172.30% for this year and 15.26% for next year. EPS is expected to grow by 13.67% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 3.00%.

Float and Shares Shorts:

At present, 81.78 million ICLR shares are outstanding with a float of 81.08 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.0 million, which was 1.22% higher than short shares on Mar 30, 2023. In addition to Dr. Steven A. Cutler MBA, Ph.D. as the firm’s CEO & Director, Mr. Brendan Brennan serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 98.16% of ICLR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 52.62% of ICLR, in contrast to 44.50% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in ICLR with 9.99% of the stake, Massachusetts Financial Services holds 8,185,956 shares worth 8,185,956. A second-largest stockholder of ICLR, WCM Investment Management LLC, holds 5,789,447 shares, controlling over 7.07% of the firm’s shares. Boston Partners Global Investors, is the third largest shareholder in ICLR, holding 3,077,298 shares or 3.76% stake. With a 2.76% stake in ICLR, the WCM Focused International Growth is the largest stakeholder. A total of 2,261,594 shares are owned by the mutual fund manager. The American Funds AMCAP Fund, which owns about 1.71% of ICLR stock, is the second-largest Mutual Fund holder. It holds 1,398,300 shares valued at 269.44 million. MFS Growth Fund holds 1.66% of the stake in ICLR, owning 1,361,522 shares worth 262.35 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, ICLR reported revenue of $1.94B and operating income of $209.16M. The EBITDA in the recently reported quarter was $353.34M and diluted EPS was $1.41.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ICLR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ICLR analysts setting a high price target of $281.00 and a low target of $220.00, the average target price over the next 12 months is $249.21. Based on these targets, ICLR could surge 35.84% to reach the target high and rise by 6.35% to reach the target low. Reaching the average price target will result in a growth of 20.47% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

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