Icon PLC

ICLR: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$124.00	Mhhsdx	Wrnpbdhx

ICON Earnings: Strong Demand for Outsourced Clinical Trials; Focus on Innovative Data Solutions

Rachel Elfman

Apr 26, 2024

Narrow-moat Icon reported strong first-quarter results highlighted by revenue exceeding $2 billion, representing a nearly 6% increase from the prior-year period, thanks to stabilizing demand within the biotech customer base. We continue to have a positive outlook for Icon, and we maintain our fair value estimate of $268 per share. However, we view the stock as currently trading at a 12% premium to our fair value estimate.

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