ICON Public (NASDAQ:ICLR) Price Target Cut to $280.00 by Analysts at The Goldman Sachs Group

ICON Public (NASDAQ:ICLR) had its price target decreased by The Goldman Sachs Group from $370.00 to $280.00 in a research report sent to investors on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the medical research company’s stock.

ICLR has been the topic of a number of other reports. StockNews.com lowered ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Redburn Atlantic started coverage on ICON Public in a research report on Monday, October 14th. They issued a “neutral” rating and a $311.00 target price for the company. Robert W. Baird downgraded ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research note on Thursday, October 24th. Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Barclays reduced their target price on ICON Public from $350.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.27.

ICON Public Stock Performance

Shares of NASDAQ:ICLR opened at $230.50 on Friday. The company’s 50 day simple moving average is $295.86 and its 200 day simple moving average is $309.61. The stock has a market capitalization of $19.02 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 1.35 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 $220.01 and a 1 year high of $347.72.

ICON Public (NASDAQ:ICLR) last released its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned $3.10 EPS. ICON Public’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, research analysts predict that ICON Public will post 14.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Kornitzer Capital Management Inc. KS grew its stake in shares of ICON Public by 15.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock worth $30,016,000 after acquiring an additional 13,163 shares in the last quarter. GAMMA Investing LLC grew its position in shares of ICON Public by 50.0% in the second quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock valued at $82,000 after purchasing an additional 87 shares during the last quarter. Sara Bay Financial acquired a new stake in ICON Public during the third quarter worth approximately $1,143,000. Whittier Trust Co. raised its stake in ICON Public by 8.6% during the second quarter. Whittier Trust Co. now owns 3,579 shares of the medical research company’s stock worth $1,122,000 after purchasing an additional 284 shares during the period. Finally, Arkadios Wealth Advisors raised its stake in shares of ICON Public by 67.7% in the 2nd quarter. Arkadios Wealth Advisors now owns 1,231 shares of the medical research company’s stock valued at $386,000 after acquiring an additional 497 shares during the period. 95.61% of the stock is owned by hedge funds and other 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.