Wall Street brokerages predict that Icon Plc (NASDAQ:ICLR) will announce $654.66 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Icon’s earnings, with the lowest sales estimate coming in at $644.30 million and the highest estimate coming in at $670.77 million. Icon posted sales of $440.32 million during the same quarter last year, which suggests a positive year over year growth rate of 48.7%. The business is expected to announce its next earnings results after the market closes on Wednesday, October 24th.

According to Zacks, analysts expect that Icon will report full-year sales of $2.59 billion for the current fiscal year, with estimates ranging from $2.56 billion to $2.63 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.79 billion, with estimates ranging from $2.76 billion to $2.86 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Icon.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, July 25th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.17). The business had revenue of $641.60 million for the quarter, compared to the consensus estimate of $618.64 million. Icon had a net margin of 13.69% and a return on equity of 26.35%. Icon’s quarterly revenue was up 48.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 EPS.

ICLR has been the topic of a number of research reports. BidaskClub upgraded Icon from a “hold” rating to a “buy” rating in a research report on Wednesday, September 5th. Zacks Investment Research upgraded Icon from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research report on Thursday, August 9th. Robert W. Baird raised their price target on Icon from $154.00 to $157.00 and gave the company an “outperform” rating in a research report on Tuesday, September 11th. Mizuho set a $146.00 price target on Icon and gave the company a “hold” rating in a research report on Monday, August 6th. Finally, KeyCorp raised their price target on Icon from $152.00 to $157.00 and gave the company an “overweight” rating in a research report on Tuesday, September 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $146.10.

NASDAQ:ICLR traded up $4.15 during trading hours on Friday, hitting $144.92. 247,280 shares of the company’s stock traded hands, compared to its average volume of 255,517. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 2.21 and a beta of 0.31. Icon has a 52 week low of $101.22 and a 52 week high of $155.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.10 and a current ratio of 2.10.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICLR. WCM Investment Management CA raised its position in Icon by 3.9% during the second quarter. WCM Investment Management CA now owns 4,633,580 shares of the medical research company’s stock valued at $614,088,000 after purchasing an additional 172,080 shares in the last quarter. Partner Fund Management L.P. increased its holdings in shares of Icon by 61.1% in the second quarter. Partner Fund Management L.P. now owns 432,312 shares of the medical research company’s stock worth $57,294,000 after buying an additional 163,959 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Icon by 20.6% in the first quarter. Principal Financial Group Inc. now owns 946,806 shares of the medical research company’s stock worth $111,856,000 after buying an additional 161,558 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Icon by 49.5% in the first quarter. Lord Abbett & CO. LLC now owns 465,533 shares of the medical research company’s stock worth $54,998,000 after buying an additional 154,094 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of Icon by 3,097.7% in the second quarter. Advisors Asset Management Inc. now owns 153,202 shares of the medical research company’s stock worth $650,000 after buying an additional 148,411 shares during the period. Institutional investors and hedge funds own 87.91% of the company’s stock.

About Icon

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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