ICON Public (NASDAQ:ICLR) Given New $280.00 Price Target at JPMorgan Chase & Co.

ICON Public (NASDAQ:ICLR) had its price objective lowered by JPMorgan Chase & Co. from $375.00 to $280.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

Several other research analysts have also commented on the company. Leerink Partnrs raised ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. StockNews.com downgraded ICON Public from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Robert W. Baird cut ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price target for the company. in a report on Thursday, October 24th. Barclays dropped their target price on ICON Public from $350.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. 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 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 stock. Based on data from MarketBeat, ICON Public presently has an average rating of “Moderate Buy” and an average target price of $304.27.

ICON Public Stock Performance

Shares of ICON Public stock opened at $230.50 on Friday. The business has a 50-day moving average of $295.86 and a 200 day moving average of $309.61. ICON Public has a 12 month low of $220.01 and a 12 month high of $347.72. The stock has a market capitalization of $19.02 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.31.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business earned $3.10 EPS. ICON Public’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 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new stake in ICON Public during the second quarter valued at approximately $54,000. ORG Partners LLC acquired a new stake in ICON Public in the 2nd quarter valued at approximately $59,000. Whittier Trust Co. of Nevada Inc. increased its position in ICON Public by 410.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 189 shares of the medical research company’s stock valued at $63,000 after acquiring an additional 152 shares during the period. GAMMA Investing LLC boosted its stake in ICON Public by 50.0% during the 2nd quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock valued at $82,000 after purchasing an additional 87 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in 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 in 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.