Citigroup Has Lowered Expectations for ICON Public (NASDAQ:ICLR) Stock Price

ICON Public (NASDAQ:ICLR) had its price target reduced by research analysts at Citigroup from $300.00 to $290.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Citigroup’s target price suggests a potential upside of 30.29% from the company’s previous close.

Several other equities research analysts have also issued reports on ICLR. StockNews.com lowered ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Robert W. Baird reduced 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. TD Cowen cut their price target on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Truist Financial reiterated a “buy” rating and issued a $284.00 price objective (down from $295.00) on shares of ICON Public in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut their target price on ICON Public from $375.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ICON Public has a consensus rating of “Moderate Buy” and a consensus target price of $287.00.

ICON Public Price Performance

NASDAQ ICLR opened at $222.58 on Monday. The company has a 50 day simple moving average of $211.60 and a 200-day simple moving average of $273.51. ICON Public has a 52-week low of $183.38 and a 52-week high of $347.72. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business earned $3.10 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. Equities research analysts predict that ICON Public will post 13.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new stake in ICON Public in the 2nd quarter valued at $54,000. EverSource Wealth Advisors LLC lifted its stake in shares of ICON Public by 39.2% in the second quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock valued at $129,000 after buying an additional 111 shares during the period. GAMMA Investing LLC grew its position in ICON Public by 64.0% during 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 in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in ICON Public by 23.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock valued at $147,000 after acquiring an additional 96 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in ICON Public by 33.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company’s stock valued at $172,000 after acquiring an additional 151 shares in the last quarter. Institutional investors and hedge funds 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.