JPMorgan Chase & Co. Trims ICON Public (NASDAQ:ICLR) Target Price to $280.00

ICON Public (NASDAQ:ICLR) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $375.00 to $280.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 27.00% from the stock’s previous close.

Several other equities research analysts have also weighed in on ICLR. StockNews.com lowered ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Baird R W downgraded shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Barclays dropped their price target on shares of ICON Public from $350.00 to $330.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. The Goldman Sachs Group reduced their price objective on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a research note on Friday. Finally, Leerink Partners dropped their target price on ICON Public from $376.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, ICON Public currently has a consensus rating of “Moderate Buy” and an average price target of $310.45.

ICON Public Stock Performance

NASDAQ ICLR opened at $220.47 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization 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 has a 52-week low of $220.01 and a 52-week high of $347.72. The company has a 50-day simple moving average of $297.75 and a 200 day simple moving average of $310.20.

ICON Public (NASDAQ:ICLR) last posted its quarterly 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 return on equity of 12.06% and a net margin of 8.57%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm posted $3.10 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, research analysts predict that ICON Public will post 14.53 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ICLR. Ashton Thomas Private Wealth LLC purchased a new position in ICON Public in the 2nd quarter worth approximately $54,000. ORG Partners LLC bought a new position in ICON Public in the second quarter valued at $59,000. Whittier Trust Co. of Nevada Inc. raised its position in ICON Public by 410.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 189 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 152 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of ICON Public by 50.0% in the 2nd quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock worth $82,000 after purchasing an additional 87 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of ICON Public by 17.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock valued at $95,000 after purchasing an additional 42 shares during 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.