Citigroup Lowers ICON Public (NASDAQ:ICLR) Price Target to $215.00

ICON Public (NASDAQ:ICLR) had its target price cut by equities researchers at Citigroup from $290.00 to $215.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Citigroup’s target price points to a potential upside of 50.88% from the company’s current price.

A number of other analysts have also recently commented on ICLR. The Goldman Sachs Group cut ICON Public from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $250.00 to $200.00 in a research report on Friday, March 21st. Robert W. Baird cut their target price on ICON Public from $221.00 to $203.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Truist Financial lowered their price target on ICON Public from $284.00 to $262.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Barclays cut their price objective on shares of ICON Public from $275.00 to $240.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $259.00.

ICON Public Stock Performance

Shares of ICLR opened at $142.50 on Monday. The company has a 50-day simple moving average of $183.46 and a two-hundred day simple moving average of $214.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.34. The firm has a market capitalization of $11.51 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.86 and a beta of 1.24. ICON Public has a one year low of $140.22 and a one year high of $347.72.

ICON Public (NASDAQ:ICLR) last released its earnings results on Wednesday, February 19th. The medical research company reported $3.42 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 analysts’ expectations of $2.04 billion. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. On average, analysts anticipate that ICON Public will post 13.38 EPS for the current fiscal year.

Hedge Funds Weigh In On ICON Public

Institutional investors and hedge funds have recently modified their holdings of the company. Foyston Gordon & Payne Inc bought a new position in ICON Public in the third quarter valued at about $11,672,000. Tributary Capital Management LLC lifted its stake in shares of 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 worth $828,000 after purchasing an additional 2,122 shares during the period. GAMMA Investing LLC boosted its holdings in shares of ICON Public by 64.0% in the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after buying an additional 169 shares during the last quarter. Entropy Technologies LP increased its holdings in ICON Public by 472.2% during the fourth quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company’s stock valued at $1,295,000 after buying an additional 5,095 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in ICON Public by 6.7% in the fourth quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company’s stock worth $37,279,000 after acquiring an additional 11,177 shares during the period. 95.61% of the stock is currently owned by hedge funds and other 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.