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

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

Several other equities research analysts have also commented on ICLR. StockNews.com lowered ICON Public from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Baird R W lowered shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Truist Financial cut their target price on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. decreased their price target on shares of ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Evercore ISI reduced their target price on ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ICON Public currently has an average rating of “Moderate Buy” and a consensus price target of $310.45.

ICON Public Stock Performance

NASDAQ:ICLR opened at $220.47 on Friday. 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 has a fifty-two week low of $220.01 and a fifty-two week high of $347.72. The company has a 50 day simple moving average of $297.75 and a two-hundred day simple moving average of $310.20. The company has a market capitalization of $18.19 billion, a PE ratio of 25.70, a P/E/G ratio of 1.35 and a beta of 1.22.

ICON Public (NASDAQ:ICLR) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). The firm had revenue of $2.03 billion for 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%. ICON Public’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.10 EPS. Research analysts anticipate 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 lifted its stake 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 valued at $37,531,000 after acquiring an additional 19,546 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of 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 valued at $30,016,000 after purchasing an additional 13,163 shares in the last quarter. Whittier Trust Co. boosted its holdings in ICON Public by 12.3% during the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock worth $1,155,000 after purchasing an additional 441 shares during the last quarter. Sara Bay Financial bought a new stake in ICON Public in the 3rd quarter worth about $1,143,000. Finally, Motco increased 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 valued at $1,304,000 after buying an additional 59 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.