ICON Public (NASDAQ:ICLR) Price Target Lowered to $240.00 at Barclays

ICON Public (NASDAQ:ICLR) had its target price trimmed by Barclays from $275.00 to $240.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

ICLR has been the subject of a number of other reports. The Goldman Sachs Group decreased their price target on ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a report on Friday, October 25th. Robert W. Baird decreased their target price on shares of ICON Public from $249.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Royal Bank of Canada restated an “outperform” rating and set a $263.00 price target on shares of ICON Public in a research report on Wednesday, January 15th. Leerink Partners reiterated an “outperform” rating and issued a $255.00 price objective (down previously from $270.00) on shares of ICON Public in a research report on Tuesday, November 19th. Finally, Citigroup dropped their target price on ICON Public from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $281.00.

ICON Public Stock Performance

Shares of NASDAQ ICLR opened at $201.39 on Friday. The company has a 50 day simple moving average of $202.90 and a two-hundred day simple moving average of $245.37. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.76 and a beta of 1.19. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. ICON Public has a 12 month low of $181.51 and a 12 month high of $347.72.

ICON Public (NASDAQ:ICLR) last posted its earnings results on Wednesday, February 19th. The medical research company reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.01. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. ICON Public had a net margin of 9.56% and a return on equity of 11.79%. As a group, analysts predict that ICON Public will post 13.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC grew its holdings in shares of ICON Public by 861.1% during the third quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock worth $3,797,000 after buying an additional 11,840 shares in the last quarter. Foyston Gordon & Payne Inc purchased a new stake in ICON Public during the 3rd quarter valued at about $11,672,000. Tributary Capital Management LLC raised its holdings in ICON Public by 116.1% in the 4th quarter. Tributary Capital Management LLC now owns 3,950 shares of the medical research company’s stock valued at $828,000 after acquiring an additional 2,122 shares during the last quarter. GAMMA Investing LLC lifted its stake in ICON Public by 64.0% in the 4th quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after purchasing an additional 169 shares in the last quarter. Finally, Entropy Technologies LP boosted its holdings in shares of ICON Public by 472.2% during the 4th quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company’s stock worth $1,295,000 after purchasing an additional 5,095 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

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.