ICON (ICLR)
Runs outsourced clinical development programs for drug and medical-device makers worldwide.
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Provides outsourced drug- and device-development services across clinical research, functional services, real-world evidence, and consulting. A global operating network combines clinical execution with data and technology, while revenue depends on continued outsourcing, accurate long-duration contract estimates, and effective controls over revenue recognition.
Provides outsourced drug- and medical-device development services to pharmaceutical, biotechnology, medical-device, government, and public-health clients. Clinical research services sit at the core, complemented by functional services, early- and late-phase work, real-world evidence, market access, and scientific communications.
Built from Dublin into a global operating network, combining clinical operations with data and technology. The PRA Health Sciences acquisition materially expanded its workforce, geographic reach, and access to diverse patient populations.
Revenue depends on customers continuing to outsource complex development programs and on accurate cost-to-complete estimates for long-duration contracts. Following findings of improper revenue adjustments and contract-accounting errors, internal-control remediation covering oversight, procedures, training, and manual adjustments remains in progress.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 31, 2026 | Robert W. Baird | Target | Target: $186 | Target: $194 |
| Jun 30, 2026 | Truist Financial | Target | Target: $159 | Target: $207 |
| Jun 30, 2026 | Truist Securities | Upgrade | ||
| Jun 26, 2026 | Mizuho Securities | Target | Target: $216 | Target: $190 |
| Jun 25, 2026 | BMO Capital | Reiterate | Rating: —Target: $100 | Target: $187 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $928.4M · Total debt $3.49B · Total assets $16.40B · Shareholders' equity $9.38B
- Revenue
- $2.06B
- Operating income
- $194.2M
- Net income
- $72.6M
No dividends on record.
| Institutions | 104.97% | 80.37M shares | |
|---|---|---|---|
| 449 holders · as of Jun 30, 2026 | |||
| Insiders | 0.54% | 416.6K shares | |
| 11 holders · as of Sep 18, 2026 | |||
| Strategic holders | 10.92% | 8.36M shares | |
| 1 holder · as of Mar 6, 2026 | |||
| Adds to | 116.43% | ||
76.57M company shares as of Sep 6, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 116.43%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Artisan Partners Limited PartnershipInstitution | 11.28% | 8.64M | as of Jun 30, 2026 |
Artisan Partners Asset Management Inc.Strategic | 10.92% | 8.36M | filed Mar 6, 2026 |
Wellington Management Group LLPInstitution | 6.95% | 5.32M | as of Jun 30, 2026 |
FMR LLCInstitution | 6.88% | 5.27M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 6.88% | 5.26M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 16, 2026 | John Dr Climax | director | −5,005 | $175.00 |
| Sep 17, 2026 | Ronan Martin Murphy | director | −5,005 | $175.00 |
| Sep 17, 2026 | Eugene Pacelli McCague | director | −3,255 | $175.00 |
| Aug 11, 2026 | Ronan Martin Murphy | director | −841 | $164.29 |
| Aug 11, 2026 | Ciaran Murray | director | −2,677 | $164.29 |
- IQVIA
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Global CRO rival in full-service, FSP, and Phase I-IV delivery
- Medpace
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| ICON | $167.36 | +0.15% | $12.80B | 39.2 | 15.0 | 1.6 | +2.3% |
| IQVIA | $272.51 | +0.89% | $44.46B | 33.5 | 20.0 | 2.6 | +8.7% |
| Thermo Fisher Scientific | $659.61 | +0.16% | $243.49B | 35.4 | 25.1 | 5.3 | +10.5% |
| Fortrea | $20.22 | −1.00% | $1.94B | — | 21.0 | 0.7 | −4.5% |
| Medpace | $633.78 | +0.57% | $17.59B | 36.9 | 34.4 | 6.3 | +17.2% |
| Median | 35.4 | 23.1 | 3.9 | +9.6% |