Redburn Atlantic Begins Coverage on ICON Public (NASDAQ:ICLR)

Redburn Atlantic started coverage on shares of ICON Public (NASDAQ:ICLR) in a research report report published on Monday, MarketBeat.com reports. The brokerage issued a neutral rating and a $311.00 price objective on the medical research company’s stock.

A number of other research firms also recently issued reports on ICLR. Robert W. Baird reduced their target price on shares of ICON Public from $368.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Barclays reduced their target price on shares of ICON Public from $355.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. StockNews.com downgraded shares of ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Evercore ISI cut 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 report on Tuesday, October 8th. Finally, Truist Financial restated a “buy” rating and issued a $383.00 price objective on shares of ICON Public in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ICON Public presently has an average rating of “Moderate Buy” and an average price target of $346.09.

ICON Public Stock Down 0.4 %

ICON Public stock opened at $293.60 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average price is $304.38 and its two-hundred day moving average price is $312.72. ICON Public has a 1-year low of $221.20 and a 1-year high of $347.72. The firm has a market capitalization of $24.22 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the firm earned $2.96 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts predict that ICON Public will post 14.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Hedge funds have recently made changes to their positions in the business. Kornitzer Capital Management Inc. KS increased 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 during the period. GAMMA Investing LLC increased its stake in shares of ICON Public by 50.0% in the second quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock worth $82,000 after buying an additional 87 shares during the period. Sara Bay Financial purchased a new position in shares of ICON Public in the third quarter worth $1,143,000. Riverview Trust Co purchased a new position in shares of ICON Public in the first quarter worth $31,000. Finally, Whittier Trust Co. increased its stake in shares of ICON Public by 8.6% in the second quarter. Whittier Trust Co. now owns 3,579 shares of the medical research company’s stock worth $1,122,000 after buying an additional 284 shares during the period. 95.61% of the stock is currently owned by 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.