ICON Public (NASDAQ:ICLR) PT Lowered to $340.00

ICON Public (NASDAQ:ICLR) had its price objective dropped by investment analysts at Robert W. Baird from $368.00 to $340.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price objective points to a potential upside of 12.19% from the company’s current price.

Other research analysts have also recently issued reports about the company. William Blair reissued an “outperform” rating on shares of ICON Public in a research note on Friday, May 31st. Leerink Partners started coverage on shares of ICON Public in a report on Wednesday. They set an “outperform” rating and a $379.00 target price on the stock. Truist Financial reiterated a “buy” rating and issued a $383.00 price target on shares of ICON Public in a report on Wednesday, September 11th. The Goldman Sachs Group initiated coverage on shares of ICON Public in a report on Thursday, June 6th. They set a “buy” rating and a $370.00 price objective on the stock. Finally, Barclays reduced their target price on shares of ICON Public from $355.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ICON Public has a consensus rating of “Buy” and an average price target of $351.60.

ICON Public Stock Performance

Shares of ICLR stock opened at $303.07 on Friday. The stock has a 50-day moving average of $317.00 and a 200-day moving average of $318.08. ICON Public has a one year low of $221.20 and a one year high of $347.72. The stock has a market cap of $25.00 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.31.

ICON Public (NASDAQ:ICLR) last posted its earnings results on Wednesday, July 24th. The medical research company reported $3.75 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.07. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the business posted $2.96 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that ICON Public will post 14.54 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC raised its stake in shares of ICON Public by 0.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 695,932 shares of the medical research company’s stock worth $196,998,000 after purchasing an additional 6,331 shares in the last quarter. State of Tennessee Treasury Department raised its position in ICON Public by 4.9% during the fourth quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company’s stock worth $44,101,000 after acquiring an additional 7,270 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in ICON Public by 15.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock valued at $30,016,000 after acquiring an additional 13,163 shares during the last quarter. GAMMA Investing LLC grew its position in shares of ICON Public by 50.0% in the 2nd quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock valued at $82,000 after acquiring an additional 87 shares during the period. Finally, Riverview Trust Co acquired a new position in shares of ICON Public during the 1st quarter worth about $31,000. 95.61% of the stock is owned by institutional investors and hedge funds.

ICON Public Company Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company 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.