Robert W. Baird Lowers ICON Public (NASDAQ:ICLR) Price Target to $225.00

ICON Public (NASDAQ:ICLR) had its price objective cut by Robert W. Baird from $249.00 to $225.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Robert W. Baird’s target price would suggest a potential upside of 5.75% from the stock’s previous close.

A number of other research analysts also recently issued reports on ICLR. TD Cowen decreased their price target on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Evercore ISI dropped their price objective on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. The Goldman Sachs Group decreased their target price on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Baird R W lowered shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Redburn Atlantic initiated coverage on shares of ICON Public in a research report on Monday, October 14th. They issued a “neutral” rating and a $311.00 price objective on the stock. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ICON Public presently has a consensus rating of “Moderate Buy” and an average price target of $292.45.

ICON Public Stock Performance

ICLR opened at $212.76 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market cap of $17.55 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.45 and a beta of 1.25. ICON Public has a 52-week low of $183.38 and a 52-week high of $347.72. The firm’s fifty day simple moving average is $259.64 and its two-hundred day simple moving average is $298.45.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 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 business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company earned $3.10 earnings per share. ICON Public’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts anticipate that ICON Public will post 13.42 earnings per share for the current fiscal year.

Institutional Trading of ICON Public

A number of hedge funds have recently made changes to their positions in ICLR. Liontrust Investment Partners LLP increased its stake in ICON Public by 19.5% during the second quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock valued at $37,531,000 after purchasing an additional 19,546 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its position in shares of ICON Public by 15.9% during 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 during the last quarter. Foyston Gordon & Payne Inc bought a new position in ICON Public in the 3rd quarter valued at about $11,672,000. Icon Wealth Advisors LLC grew its position in ICON Public by 861.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock valued at $3,797,000 after buying an additional 11,840 shares in the last quarter. Finally, Whittier Trust Co. grew its position in ICON Public by 12.3% in the 3rd quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock valued at $1,155,000 after buying an additional 441 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

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.