ICON Public (NASDAQ:ICLR) Stock Rating Lowered by Robert W. Baird

ICON Public (NASDAQ:ICLR) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They presently have a $340.00 price objective on the medical research company’s stock. Robert W. Baird’s price target indicates a potential upside of 54.22% from the company’s current price.

ICLR has been the topic of several other research reports. Leerink Partnrs upgraded shares of ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. StockNews.com lowered shares of ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Evercore ISI lowered their price objective on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Redburn Atlantic initiated coverage on ICON Public in a research report on Monday, October 14th. They issued a “neutral” rating and a $311.00 target price on the stock. Finally, Truist Financial lowered their price target on ICON Public from $383.00 to $363.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $310.45.

ICON Public Trading Down 0.6 %

NASDAQ ICLR opened at $220.47 on Thursday. ICON Public has a 52 week low of $220.01 and a 52 week high of $347.72. The company has a 50 day moving average price of $297.75 and a 200 day moving average price of $310.26. 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 firm has a market cap of $18.19 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 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 business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the company posted $3.10 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that ICON Public will post 14.53 EPS for the current fiscal year.

Institutional Trading of ICON Public

A number of hedge funds have recently added to or reduced their stakes in the company. Liontrust Investment Partners LLP boosted its position 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 worth $37,531,000 after purchasing an additional 19,546 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of ICON Public by 15.9% during the 2nd 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 during the period. Whittier Trust Co. lifted its position in shares of ICON Public by 12.3% during 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. Sara Bay Financial acquired a new stake in ICON Public in the 3rd quarter valued at $1,143,000. Finally, Motco increased its holdings in ICON Public by 1.5% in the 1st quarter. Motco now owns 3,882 shares of the medical research company’s stock worth $1,304,000 after acquiring an additional 59 shares in the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

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.