ICON Public Limited (NASDAQ:ICLR) Receives $243.33 Average Target Price from Brokerages

ICON Public Limited (NASDAQ:ICLR) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $232.67.

ICLR has been the subject of several recent research reports. The Goldman Sachs Group lowered ICON Public from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $250.00 to $200.00 in a report on Friday, March 21st. Truist Financial dropped their price target on shares of ICON Public from $262.00 to $208.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Robert W. Baird dropped their target price on ICON Public from $221.00 to $203.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price target on ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Barclays reiterated an “equal weight” rating and set a $165.00 price objective (down from $240.00) on shares of ICON Public in a research note on Thursday, April 10th.

ICON Public Price Performance

ICLR opened at $146.74 on Friday. ICON Public has a fifty-two week low of $138.51 and a fifty-two week high of $347.72. The firm has a 50-day moving average of $178.63 and a 200 day moving average of $209.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.34 and a current ratio of 1.26. The firm has a market cap of $11.85 billion, a P/E ratio of 15.40, a PEG ratio of 1.86 and a beta of 1.24.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.01. ICON Public had a net margin of 9.56% and a return on equity of 11.81%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.04 billion. On average, research analysts expect that ICON Public will post 13.38 EPS for the current year.

Institutional Investors Weigh In On ICON Public

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in ICON Public by 15,701.6% in the first quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company’s stock worth $119,730,000 after purchasing an additional 67,988 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in shares of ICON Public by 40.6% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 97,102 shares of the medical research company’s stock worth $20,363,000 after buying an additional 28,050 shares during the period. Natixis Advisors LLC lifted its stake in shares of ICON Public by 6.7% in the 4th quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company’s stock valued at $37,279,000 after acquiring an additional 11,177 shares during the last quarter. Foyston Gordon & Payne Inc boosted its holdings in ICON Public by 27.3% during the 4th quarter. Foyston Gordon & Payne Inc now owns 51,713 shares of the medical research company’s stock valued at $10,845,000 after acquiring an additional 11,089 shares during the period. Finally, Entropy Technologies LP grew its position in 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 acquiring an additional 5,095 shares during the last quarter. 95.61% of the stock is currently owned by 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.