ICON Public (NASDAQ:ICLR) Price Target Lowered to $275.00 at Barclays

ICON Public (NASDAQ:ICLR) had its price target cut by investment analysts at Barclays from $330.00 to $275.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Barclays‘s target price points to a potential upside of 24.73% from the stock’s current price.

Several other brokerages have also weighed in on ICLR. Truist Financial decreased their price objective on ICON Public from $383.00 to $363.00 and set a “buy” rating for the company in a report on Monday, October 14th. The Goldman Sachs Group lowered their price target on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com lowered shares of ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Redburn Atlantic initiated coverage on ICON Public in a research report on Monday, October 14th. They set a “neutral” rating and a $311.00 target price on the stock. Finally, Evercore ISI reduced their price target on ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.45.

ICON Public Stock Performance

Shares of ICLR stock opened at $220.47 on Friday. ICON Public has a 52 week low of $220.01 and a 52 week high of $347.72. The firm’s 50-day simple moving average is $297.75 and its two-hundred day simple moving average is $310.20. 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. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.31.

ICON Public (NASDAQ:ICLR) last posted 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). ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company posted $3.10 EPS. ICON Public’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities analysts forecast that ICON Public will post 14.53 earnings per share for the current year.

Institutional Trading of ICON Public

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its position in shares of ICON Public by 17.4% in the first quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock worth $95,000 after purchasing an additional 42 shares during the last quarter. Motco grew its stake in ICON Public by 1.5% in the 1st quarter. Motco now owns 3,882 shares of the medical research company’s stock worth $1,304,000 after buying an additional 59 shares in the last quarter. First National Bank of Hutchinson increased its holdings in shares of ICON Public by 5.7% in the 1st quarter. First National Bank of Hutchinson now owns 1,135 shares of the medical research company’s stock worth $381,000 after buying an additional 61 shares during the last quarter. Arkadios Wealth Advisors raised its position in shares of ICON Public by 5.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company’s stock valued at $371,000 after buying an additional 62 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of ICON Public by 50.0% during the 2nd quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock worth $82,000 after acquiring an additional 87 shares during the last quarter. 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.