ICON Public (NASDAQ:ICLR) Stock Rating Lowered by Robert W. Baird

ICON Public (NASDAQ:ICLR) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report released on Thursday, MarketBeat Ratings reports. They currently have a $340.00 price objective on the medical research company’s stock. Robert W. Baird’s target price points to a potential upside of 21.10% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Redburn Atlantic started coverage on ICON Public in a research note on Monday, October 14th. They issued a “neutral” rating and a $311.00 target price for the company. Leerink Partners assumed coverage on shares of ICON Public in a research note on Wednesday, September 18th. They set an “outperform” rating and a $379.00 target price on the stock. StockNews.com lowered shares of ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Truist Financial cut their price target on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Barclays decreased their price objective on ICON Public from $350.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Three 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $346.09.

ICON Public Stock Down 1.0 %

Shares of NASDAQ ICLR opened at $280.76 on Thursday. The stock has a market cap of $23.16 billion, a PE ratio of 34.16, a P/E/G ratio of 1.35 and a beta of 1.22. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. ICON Public has a 12-month low of $222.32 and a 12-month high of $347.72. The company has a 50-day moving average of $301.78 and a 200 day moving average of $311.59.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.14 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.96 earnings per share. As a group, sell-side analysts predict that ICON Public will post 14.54 EPS for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Several institutional investors and hedge funds have recently modified their holdings of the company. Kornitzer Capital Management Inc. KS lifted its stake in ICON Public by 15.9% during the second quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock worth $30,016,000 after purchasing an additional 13,163 shares during the last quarter. GAMMA Investing LLC boosted its stake in ICON Public by 50.0% in the second quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock valued at $82,000 after acquiring an additional 87 shares in the last quarter. Sara Bay Financial acquired a new stake in shares of ICON Public during the third quarter worth about $1,143,000. Whittier Trust Co. grew its stake in ICON Public by 8.6% during the 2nd quarter. Whittier Trust Co. now owns 3,579 shares of the medical research company’s stock worth $1,122,000 after buying an additional 284 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its position in ICON Public by 67.7% during the second quarter. Arkadios Wealth Advisors now owns 1,231 shares of the medical research company’s stock worth $386,000 after buying an additional 497 shares during the period. 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.