ICON Public’s (ICLR) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of ICON Public (NASDAQ:ICLR) in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a $263.00 price objective on the medical research company’s stock.

A number of other research firms have also recently commented on ICLR. Truist Financial reiterated a “buy” rating and set a $284.00 price target (down previously from $295.00) on shares of ICON Public in a report on Wednesday, December 18th. Baird R W downgraded ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. StockNews.com cut ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Leerink Partners reaffirmed an “outperform” rating and set a $255.00 price objective (down from $270.00) on shares of ICON Public in a research report on Tuesday, November 19th. Finally, Barclays dropped their price objective on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned 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 a consensus price target of $287.00.

ICON Public Stock Down 2.2 %

NASDAQ:ICLR opened at $198.11 on Wednesday. ICON Public has a twelve month low of $183.38 and a twelve month high of $347.72. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. 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 stock’s 50 day moving average price is $209.71 and its two-hundred day moving average price is $268.23.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.13 billion. ICON Public had a return on equity of 11.91% and a net margin of 9.00%. ICON Public’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.10 earnings per share. Equities research analysts expect that ICON Public will post 13.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICON Public

A number of hedge funds and other institutional investors have recently made changes to their positions in ICLR. Foyston Gordon & Payne Inc bought a new position in ICON Public during the 3rd quarter worth $11,672,000. Icon Wealth Advisors LLC grew its holdings in shares of ICON Public by 861.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock worth $3,797,000 after purchasing an additional 11,840 shares in the last quarter. Whittier Trust Co. increased its position in shares of ICON Public by 12.3% in the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock worth $1,155,000 after purchasing an additional 441 shares during the period. Sara Bay Financial acquired a new position in ICON Public in the third quarter valued at about $1,143,000. Finally, Steph & Co. lifted its position in ICON Public by 3.7% during the fourth quarter. Steph & Co. now owns 1,560 shares of the medical research company’s stock worth $327,000 after purchasing an additional 55 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

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.