ICON Public (NASDAQ:ICLR) Downgraded by Robert W. Baird

ICON Public (NASDAQ:ICLR) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat reports. They presently have a $340.00 price objective on the medical research company’s stock. Robert W. Baird’s price target suggests a potential upside of 54.22% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Evercore ISI lowered their target price on ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Leerink Partners started coverage on ICON Public in a research note on Wednesday, September 18th. They set an “outperform” rating and a $379.00 price objective on the stock. Truist Financial cut their target price on ICON Public from $383.00 to $363.00 and set a “buy” rating for the company in a research note on Monday, October 14th. StockNews.com cut shares of ICON Public from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Leerink Partnrs upgraded shares of ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $310.45.

ICON Public Stock Down 0.6 %

Shares of ICLR opened at $220.47 on Thursday. The stock has a 50 day moving average price of $297.75 and a 200 day moving average price of $310.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market capitalization of $18.19 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.35 and a beta of 1.22. ICON Public has a one year low of $220.01 and a one year high of $347.72.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. ICON Public’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company earned $3.10 earnings per share. Equities research analysts forecast that ICON Public will post 14.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ICLR. Liontrust Investment Partners LLP raised its holdings in shares of ICON Public by 19.5% in the 2nd 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 in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of 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 worth $30,016,000 after acquiring an additional 13,163 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of ICON Public by 12.3% in the 3rd quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock valued at $1,155,000 after acquiring an additional 441 shares during the last quarter. Sara Bay Financial acquired a new stake in shares of ICON Public during the 3rd quarter worth about $1,143,000. Finally, Motco lifted its stake 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 purchasing an additional 59 shares during 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.