Citigroup Cuts ICON Public (NASDAQ:ICLR) Price Target to $290.00

ICON Public (NASDAQ:ICLR) had its target price cut by Citigroup from $300.00 to $290.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other research firms also recently commented on ICLR. Leerink Partners restated an “outperform” rating and set a $255.00 price target (down from $270.00) on shares of ICON Public in a research report on Tuesday, November 19th. Redburn Atlantic began coverage on ICON Public in a research report on Monday, October 14th. They issued a “neutral” rating and a $311.00 target price for the company. TD Cowen lowered their price target on ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Barclays cut their price objective on ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Baird R W lowered ICON Public from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ICON Public currently has an average rating of “Moderate Buy” and a consensus price target of $289.18.

ICON Public Price Performance

Shares of NASDAQ:ICLR opened at $215.51 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $211.79 and its two-hundred day moving average is $274.18. The firm has a market capitalization of $17.78 billion, a P/E ratio of 24.03, a PEG ratio of 1.54 and a beta of 1.20. ICON Public has a 52 week low of $183.38 and a 52 week high of $347.72.

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

Institutional Investors Weigh In On ICON Public

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICLR. Ashton Thomas Private Wealth LLC bought a new stake in shares of ICON Public in the 2nd quarter valued at approximately $54,000. EverSource Wealth Advisors LLC grew its position in ICON Public by 39.2% in the second quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock worth $129,000 after acquiring an additional 111 shares in the last quarter. Sara Bay Financial acquired a new position in shares of ICON Public during the 3rd quarter worth $1,143,000. Whittier Trust Co. raised its holdings in shares of ICON Public by 12.3% during the 3rd quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock valued at $1,155,000 after purchasing an additional 441 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of ICON Public by 23.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock valued at $147,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

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.