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ICON (ICLR) Gains From Strategic Deals, New Innovations
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ICON plc’s (ICLR - Free Report) focus on Patient Access & Engagement strategy and favorable CRO industry trends are major tailwinds. Strategic partnerships are an added plus. The stock carries a Zacks Rank #2 (Buy) at present.
ICON is gaining from its focused patient, site and data strategy, which is helping it to improve site identification, study placement, and patient recruitment and retention. In this regard, Accellacare, ICON's global clinical research network, is successfully offering customers a wide range of stand-alone and integrated solutions at the site or in patients' homes as part of decentralized trials. The Accellacare Site Network encompasses more than 76 sites across six countries, covering the United States and Europe. Accellacare offers a quality-focused clinical research infrastructure that delivers value and benefits to sponsors.
In terms of the latest development, ICON’s innovative and scaled offerings are resonating well with customers and strongly position it for further traction in new and existing customer accounts. In line with this, in the fourth quarter, ICON was awarded a new full-service strategic partnership with a top 20 pharma customer, creating significant new business potential in Phase I-IV studies across a number of therapeutic areas in its portfolio.
ICON is committed to expanding its business through strategic acquisitions and partnerships with existing customers, while also developing new customer relationships. To support this objective, the company continues to evolve its collaboration and delivery models, invest in technology that will enable closer data integration across service areas, and enhance its project and program management capabilities. ICON continues to improve its scientific and therapeutic expertise to support its customers in specific areas, including oncology, rare diseases, dermatology, infectious disease and women's health.
Among the recent pacts, in October 2023, ICON acquired Philips Pharma Solutions, a leading provider of medical imaging and cardiac safety monitoring services. The acquisition will enhance ICON’s medical imaging experience and capabilities, particularly in the therapeutic areas of cardiovascular and metabolic diseases.
In terms of innovation, ICON, in the fourth quarter, stated that it continues to invest in AI and automation with the development of the Firecrest site and investigator database. This database is designed to provide in-depth insights to address industry challenges such as investigator and site activity and ICLR’s overall performance.
On the flip side, Inflation and rising labor costs may result in a significant increase in the cost of services, which the company may not be able to recover from its customers. ICLR’s contracts with clients are often fixed-price or fixed-price-per-unit. A sustained increase in these costs may require the company to increase the price of future service offerings. These actions could adversely affect ICON's future revenues, gross margin, or both. In the fourth quarter of 2023, the company registered an increase of 4.7% in direct cost.
Estimates for DaVita’s 2024 earnings per share have advanced from $8.46 to $8.97 in the past 30 days. Shares of the company have risen 56.7% in the past year compared with the industry’s growth of 18.1%.
DVA’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 35.6%. In the last reported quarter, it delivered an average earnings surprise of 22.2%.
Cardinal Health’sshares have risen 49.9% in the past year. Earnings estimates for CAH have increased from $6.91 to $7.28 in fiscal 2024 and from $7.76 to $8.03 in fiscal 2025, in the past 30 days.
CAH’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 15.6%. In the last reported quarter, it delivered an earnings surprise of 16.7%.
Estimates for Insulet’s 2024 earnings per share have increased from $2.54 to $3.03 in the past 30 days. Shares of the company have lost 42% in the past year against the industry’s growth of 11.7%.
PODD’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of100.1%. In the last reported quarter, it delivered an earnings surprise of 108.9%.
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ICON (ICLR) Gains From Strategic Deals, New Innovations
ICON plc’s (ICLR - Free Report) focus on Patient Access & Engagement strategy and favorable CRO industry trends are major tailwinds. Strategic partnerships are an added plus. The stock carries a Zacks Rank #2 (Buy) at present.
ICON is gaining from its focused patient, site and data strategy, which is helping it to improve site identification, study placement, and patient recruitment and retention. In this regard, Accellacare, ICON's global clinical research network, is successfully offering customers a wide range of stand-alone and integrated solutions at the site or in patients' homes as part of decentralized trials. The Accellacare Site Network encompasses more than 76 sites across six countries, covering the United States and Europe. Accellacare offers a quality-focused clinical research infrastructure that delivers value and benefits to sponsors.
In terms of the latest development, ICON’s innovative and scaled offerings are resonating well with customers and strongly position it for further traction in new and existing customer accounts. In line with this, in the fourth quarter, ICON was awarded a new full-service strategic partnership with a top 20 pharma customer, creating significant new business potential in Phase I-IV studies across a number of therapeutic areas in its portfolio.
ICON is committed to expanding its business through strategic acquisitions and partnerships with existing customers, while also developing new customer relationships. To support this objective, the company continues to evolve its collaboration and delivery models, invest in technology that will enable closer data integration across service areas, and enhance its project and program management capabilities. ICON continues to improve its scientific and therapeutic expertise to support its customers in specific areas, including oncology, rare diseases, dermatology, infectious disease and women's health.
ICON PLC Price
ICON PLC price | ICON PLC Quote
Among the recent pacts, in October 2023, ICON acquired Philips Pharma Solutions, a leading provider of medical imaging and cardiac safety monitoring services. The acquisition will enhance ICON’s medical imaging experience and capabilities, particularly in the therapeutic areas of cardiovascular and metabolic diseases.
In terms of innovation, ICON, in the fourth quarter, stated that it continues to invest in AI and automation with the development of the Firecrest site and investigator database. This database is designed to provide in-depth insights to address industry challenges such as investigator and site activity and ICLR’s overall performance.
On the flip side, Inflation and rising labor costs may result in a significant increase in the cost of services, which the company may not be able to recover from its customers. ICLR’s contracts with clients are often fixed-price or fixed-price-per-unit. A sustained increase in these costs may require the company to increase the price of future service offerings. These actions could adversely affect ICON's future revenues, gross margin, or both. In the fourth quarter of 2023, the company registered an increase of 4.7% in direct cost.
Other Key Picks
Some other top-ranked stocks in the broader medical space are DaVita (DVA - Free Report) , Cardinal Health (CAH - Free Report) and Insulet (PODD - Free Report) . DaVita presently sports a Zacks Rank #1 (Strong Buy), while Cardinal Health and Insulet carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for DaVita’s 2024 earnings per share have advanced from $8.46 to $8.97 in the past 30 days. Shares of the company have risen 56.7% in the past year compared with the industry’s growth of 18.1%.
DVA’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 35.6%. In the last reported quarter, it delivered an average earnings surprise of 22.2%.
Cardinal Health’sshares have risen 49.9% in the past year. Earnings estimates for CAH have increased from $6.91 to $7.28 in fiscal 2024 and from $7.76 to $8.03 in fiscal 2025, in the past 30 days.
CAH’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 15.6%. In the last reported quarter, it delivered an earnings surprise of 16.7%.
Estimates for Insulet’s 2024 earnings per share have increased from $2.54 to $3.03 in the past 30 days. Shares of the company have lost 42% in the past year against the industry’s growth of 11.7%.
PODD’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of100.1%. In the last reported quarter, it delivered an earnings surprise of 108.9%.