ICON Public (NASDAQ:ICLR) Downgraded to “Hold” at StockNews.com

ICON Public (NASDAQ:ICLR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other equities research analysts also recently issued research reports about the stock. Leerink Partners assumed coverage on shares of ICON Public in a research note on Wednesday. They set an “outperform” rating and a $379.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and set a $383.00 target price on shares of ICON Public in a research report on Wednesday, September 11th. Robert W. Baird reissued an “outperform” rating and issued a $368.00 price target on shares of ICON Public in a report on Wednesday, September 11th. TD Cowen raised their price objective on ICON Public from $349.00 to $373.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, The Goldman Sachs Group initiated coverage on ICON Public in a research report on Thursday, June 6th. They issued a “buy” rating and a $370.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $354.40.

ICON Public Price Performance

Shares of NASDAQ ICLR opened at $302.45 on Thursday. The company has a market capitalization of $24.95 billion, a price-to-earnings ratio of 36.79, a PEG ratio of 1.29 and a beta of 1.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.31. ICON Public has a 1-year low of $221.20 and a 1-year high of $347.72. The business has a 50-day moving average of $318.85 and a 200-day moving average of $318.63.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.68 by $0.07. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. ICON Public’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.96 EPS. On average, equities analysts anticipate that ICON Public will post 14.54 EPS for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Institutional investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its position in shares of ICON Public by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 695,932 shares of the medical research company’s stock worth $196,998,000 after buying an additional 6,331 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of ICON Public by 4.9% during the 4th quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company’s stock worth $44,101,000 after purchasing an additional 7,270 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of ICON Public in the 4th quarter worth approximately $29,000. GAMMA Investing LLC boosted its position in ICON Public by 22.5% during the 1st quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 32 shares during the period. Finally, Steph & Co. grew its stake in ICON Public by 11.2% during the 1st quarter. Steph & Co. now owns 1,852 shares of the medical research company’s stock worth $622,000 after buying an additional 186 shares during the last quarter. 95.61% of the stock is currently owned by institutional investors.

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.