Barclays Lowers ICON Public (NASDAQ:ICLR) Price Target to $330.00

ICON Public (NASDAQ:ICLR) had its price objective cut by investment analysts at Barclays from $350.00 to $330.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective would indicate a potential upside of 12.40% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Truist Financial reduced their target price on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating for the company in a report on Monday. Robert W. Baird cut their price target 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. Leerink Partnrs upgraded shares of ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Evercore ISI cut their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Finally, StockNews.com cut shares of ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ICON Public currently has a consensus rating of “Moderate Buy” and a consensus target price of $346.09.

ICON Public Stock Down 0.4 %

ICON Public stock opened at $293.60 on Tuesday. The stock has a market capitalization of $24.22 billion, a PE ratio of 35.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. ICON Public has a twelve month low of $221.20 and a twelve month high of $347.72. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $304.38 and a 200-day moving average of $312.72.

ICON Public (NASDAQ:ICLR) last announced its earnings results on Wednesday, July 24th. The medical research company reported $3.75 EPS for the quarter, topping the consensus estimate of $3.68 by $0.07. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the company posted $2.96 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts anticipate that ICON Public will post 14.54 EPS for the current fiscal year.

Hedge Funds Weigh In On ICON Public

Several large investors have recently modified their holdings of the stock. Liontrust Investment Partners LLP raised its position in shares of ICON Public by 19.5% in the second quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock valued at $37,531,000 after purchasing an additional 19,546 shares during the period. Kornitzer Capital Management Inc. KS raised its position 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 valued at $30,016,000 after purchasing an additional 13,163 shares during the period. Sara Bay Financial bought a new position in shares of ICON Public in the third quarter valued at about $1,143,000. Motco increased its position in ICON Public by 1.5% during the first quarter. Motco now owns 3,882 shares of the medical research company’s stock worth $1,304,000 after acquiring an additional 59 shares during the period. Finally, Whittier Trust Co. increased its position in ICON Public by 8.6% during the second quarter. Whittier Trust Co. now owns 3,579 shares of the medical research company’s stock worth $1,122,000 after acquiring an additional 284 shares during the period. 95.61% of the stock is owned by institutional investors.

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.