ICON Public (NASDAQ:ICLR) Price Target Cut to $240.00 by Analysts at Barclays

ICON Public (NASDAQ:ICLR) had its target price cut by analysts at Barclays from $275.00 to $240.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Barclays‘s target price suggests a potential upside of 19.17% from the company’s previous close.

A number of other research firms have also weighed in on ICLR. Leerink Partners reiterated an “outperform” rating and set a $255.00 target price (down from $270.00) on shares of ICON Public in a report on Tuesday, November 19th. Royal Bank of Canada restated an “outperform” rating and issued a $263.00 price objective on shares of ICON Public in a report on Wednesday, January 15th. JPMorgan Chase & Co. lowered their price objective on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Truist Financial lowered their price objective on shares of ICON Public from $284.00 to $262.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Citigroup lowered their price objective on shares of ICON Public from $300.00 to $290.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $281.00.

ICON Public Stock Performance

ICON Public stock opened at $201.39 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.34 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $202.90 and a 200-day moving average of $244.91. The firm has a market cap of $16.61 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.86 and a beta of 1.19. ICON Public has a 1-year low of $181.51 and a 1-year high of $347.72.

ICON Public (NASDAQ:ICLR) last posted its earnings results on Wednesday, February 19th. The medical research company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.01. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.04 billion. ICON Public had a net margin of 9.56% and a return on equity of 11.81%. Sell-side analysts expect that ICON Public will post 13.38 EPS for the current year.

Hedge Funds Weigh In On ICON Public

Institutional investors and hedge funds have recently made changes to their positions in the business. Sierra Ocean LLC bought a new position in shares of ICON Public during the fourth quarter valued at approximately $29,000. Park Place Capital Corp increased its position in shares of ICON Public by 281.4% during the fourth quarter. Park Place Capital Corp now owns 225 shares of the medical research company’s stock valued at $47,000 after acquiring an additional 166 shares in the last quarter. Private Trust Co. NA increased its position in shares of ICON Public by 48.8% during the fourth quarter. Private Trust Co. NA now owns 250 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 82 shares in the last quarter. GAMMA Investing LLC increased its position in shares of ICON Public by 64.0% during the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock valued at $91,000 after acquiring an additional 169 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of ICON Public by 33.9% during the third quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company’s stock valued at $172,000 after acquiring an additional 151 shares in the last quarter. 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.