ICON Public (NASDAQ:ICLR) Price Target Lowered to $350.00 at Evercore ISI

ICON Public (NASDAQ:ICLR) had its price target cut by equities research analysts at Evercore ISI from $360.00 to $350.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price objective points to a potential upside of 21.44% from the company’s previous close.

A number of other research firms have also weighed in on ICLR. Leerink Partnrs upgraded shares of ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Robert W. Baird cut their price target on ICON Public from $368.00 to $340.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. StockNews.com cut ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Truist Financial reaffirmed a “buy” rating and set a $383.00 target price on shares of ICON Public in a report on Wednesday, September 11th. Finally, Leerink Partners initiated coverage on ICON Public in a report on Wednesday, September 18th. They issued an “outperform” rating and a $379.00 price target for the company. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $353.60.

ICON Public Stock Down 0.7 %

Shares of ICLR traded down $2.16 during mid-day trading on Tuesday, hitting $288.21. 245,680 shares of the company traded hands, compared to its average volume of 574,035. The company has a market capitalization of $23.78 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $307.87 and a 200 day moving average of $314.46. ICON Public has a 1-year low of $221.20 and a 1-year high of $347.72.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ICLR. Liontrust Investment Partners LLP boosted its stake in ICON Public by 19.5% during the 2nd quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock worth $37,531,000 after purchasing an additional 19,546 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted 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 buying an additional 13,163 shares in the last quarter. Sara Bay Financial acquired a new position in ICON Public during the third quarter worth about $1,143,000. Motco grew its stake in ICON Public by 1.5% during the 1st quarter. Motco now owns 3,882 shares of the medical research company’s stock valued at $1,304,000 after acquiring an additional 59 shares in the last quarter. Finally, Whittier Trust Co. raised its holdings in ICON Public by 8.6% in the 2nd quarter. Whittier Trust Co. now owns 3,579 shares of the medical research company’s stock valued at $1,122,000 after acquiring an additional 284 shares during the last quarter. 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.