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Icon PLC (ICLR) Surges 3.3%: Is This an Indication of Further Gains?
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Icon PLC (ICLR - Free Report) shares ended the last trading session 3.3% higher at $289.81. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12.4% loss over the past four weeks.
ICON plc. scored a strong price rise, driven by optimism surrounding its latest presentation at the Baird 2024 Global Healthcare Conference, held on Tuesday. Last month, the company announced the appointment of Nigel Clerkin as its new Chief Financial Officer, who is set to join in the fourth quarter, succeeding Brendan Brennan.
This contract research organization is expected to post quarterly earnings of $3.85 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $2.14 billion, up 4.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Icon PLC, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ICLR going forward to see if this recent jump can turn into more strength down the road.
Icon PLC belongs to the Zacks Medical Services industry. Another stock from the same industry, Viatris (VTRS - Free Report) , closed the last trading session 1.5% higher at $11.34. Over the past month, VTRS has returned -3.5%.
For Viatris, the consensus EPS estimate for the upcoming report has changed -1.4% over the past month to $0.69. This represents a change of -11.5% from what the company reported a year ago. Viatris currently has a Zacks Rank of #3 (Hold).
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Icon PLC (ICLR) Surges 3.3%: Is This an Indication of Further Gains?
Icon PLC (ICLR - Free Report) shares ended the last trading session 3.3% higher at $289.81. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12.4% loss over the past four weeks.
ICON plc. scored a strong price rise, driven by optimism surrounding its latest presentation at the Baird 2024 Global Healthcare Conference, held on Tuesday. Last month, the company announced the appointment of Nigel Clerkin as its new Chief Financial Officer, who is set to join in the fourth quarter, succeeding Brendan Brennan.
This contract research organization is expected to post quarterly earnings of $3.85 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $2.14 billion, up 4.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Icon PLC, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ICLR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Icon PLC belongs to the Zacks Medical Services industry. Another stock from the same industry, Viatris (VTRS - Free Report) , closed the last trading session 1.5% higher at $11.34. Over the past month, VTRS has returned -3.5%.
For Viatris, the consensus EPS estimate for the upcoming report has changed -1.4% over the past month to $0.69. This represents a change of -11.5% from what the company reported a year ago. Viatris currently has a Zacks Rank of #3 (Hold).