ICON Public (NASDAQ:ICLR) Price Target Cut to $285.00 by Analysts at TD Cowen

ICON Public (NASDAQ:ICLR) had its price objective cut by TD Cowen from $369.00 to $285.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

ICLR has been the topic of a number of other reports. Evercore ISI lowered their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Leerink Partners lowered their target price on shares of ICON Public from $376.00 to $270.00 and set an “outperform” rating on the stock in a research note on Friday. Redburn Atlantic started coverage on shares of ICON Public in a research report on Monday, October 14th. They set a “neutral” rating and a $311.00 price target for the company. Truist Financial lowered their price objective on ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ICON Public currently has an average rating of “Moderate Buy” and a consensus target price of $310.45.

ICON Public Stock Performance

NASDAQ:ICLR traded down $1.26 on Friday, reaching $220.47. 2,593,338 shares of the company’s stock were exchanged, compared to its average volume of 638,548. The stock has a fifty day simple moving average of $297.75 and a 200-day simple moving average of $310.26. ICON Public has a 52 week low of $220.01 and a 52 week high of $347.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market cap of $18.19 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 1.35 and a beta of 1.22.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.37). The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.13 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $3.10 earnings per share. As a group, sell-side analysts predict that ICON Public will post 14.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ICLR. Ashton Thomas Private Wealth LLC purchased a new stake in shares of ICON Public in the 2nd quarter valued at $54,000. ORG Partners LLC purchased a new stake in ICON Public during the second quarter valued at about $59,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of ICON Public by 410.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 189 shares of the medical research company’s stock valued at $63,000 after buying an additional 152 shares during the last quarter. GAMMA Investing LLC boosted its holdings in ICON Public by 50.0% during 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, EverSource Wealth Advisors LLC boosted its holdings in ICON Public by 17.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock valued at $95,000 after acquiring an additional 42 shares during the period. 95.61% of the stock is currently owned by institutional investors.

About ICON Public

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.