ICON Public (NASDAQ:ICLR) PT Lowered to $280.00

ICON Public (NASDAQ:ICLR) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $375.00 to $280.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 27.00% from the company’s current price.

Several other brokerages also recently commented on ICLR. Robert W. Baird downgraded shares of ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price objective for the company. in a research report on Thursday. Evercore ISI reduced their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Redburn Atlantic began coverage on shares of ICON Public in a report on Monday, October 14th. They set a “neutral” rating and a $311.00 price objective on the stock. Baird R W downgraded ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Barclays decreased their target price on ICON Public from $350.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Four 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, ICON Public currently has an average rating of “Moderate Buy” and a consensus price target of $310.45.

ICON Public Price Performance

ICLR stock opened at $220.47 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36. The firm has a market cap of $18.19 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.35 and a beta of 1.22. The company’s fifty day simple moving average is $297.75 and its 200 day simple moving average is $310.20. ICON Public has a 12-month low of $220.01 and a 12-month high of $347.72.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm earned $3.10 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts expect that ICON Public will post 14.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Liontrust Investment Partners LLP boosted its holdings in ICON Public by 19.5% during the 2nd quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock worth $37,531,000 after acquiring an additional 19,546 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in ICON Public by 15.9% during the second quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock worth $30,016,000 after purchasing an additional 13,163 shares during the last quarter. Sara Bay Financial purchased a new position in ICON Public during the third quarter worth about $1,143,000. SkyView Investment Advisors LLC bought a new stake in ICON Public in the 1st quarter worth about $1,021,000. Finally, Crestwood Advisors Group LLC purchased a new stake in ICON Public in the 2nd quarter valued at about $288,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.

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.