Brokerages Set ICON Public Limited (NASDAQ:ICLR) Target Price at $292.45

ICON Public Limited (NASDAQ:ICLR) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $290.20.

ICLR has been the topic of several recent analyst reports. Evercore ISI cut their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Leerink Partnrs raised shares of ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Baird R W downgraded shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Barclays cut their price objective on ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their target price on ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, October 25th.

Institutional Investors Weigh In On ICON Public

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Foyston Gordon & Payne Inc bought a new position in ICON Public in the 3rd quarter worth $11,672,000. Liontrust Investment Partners LLP grew its position in shares of 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 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 valued at $30,016,000 after purchasing an additional 13,163 shares during the period. Icon Wealth Advisors LLC lifted its holdings in ICON Public by 861.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock worth $3,797,000 after purchasing an additional 11,840 shares in the last quarter. Finally, Sara Bay Financial purchased a new position in shares of ICON Public in the third quarter worth $1,143,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.

ICON Public Price Performance

ICLR stock opened at $215.96 on Friday. The firm has a 50 day simple moving average of $238.99 and a two-hundred day simple moving average of $288.84. The stock has a market cap of $17.82 billion, a PE ratio of 24.08, a P/E/G ratio of 1.61 and a beta of 1.21. ICON Public has a one year low of $183.38 and a one year high of $347.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.10 earnings per share. On average, analysts predict that ICON Public will post 13.42 EPS for the current fiscal year.

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.