ICON Public (NASDAQ:ICLR) Cut to “Neutral” at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of ICON Public (NASDAQ:ICLR) from a buy rating to a neutral rating in a research note released on Friday, Marketbeat reports. The Goldman Sachs Group currently has $200.00 price objective on the medical research company’s stock, down from their prior price objective of $250.00.

Other equities research analysts have also issued reports about the company. Robert W. Baird cut their price objective on ICON Public from $221.00 to $203.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Barclays cut their price objective on ICON Public from $275.00 to $240.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. JPMorgan Chase & Co. dropped their price target on ICON Public from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Citigroup dropped their price target on ICON Public from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, William Blair restated an “outperform” rating on shares of ICON Public in a research report on Tuesday, January 14th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $272.50.

ICON Public Price Performance

Shares of ICLR stock opened at $184.87 on Friday. The firm has a market cap of $14.93 billion, a P/E ratio of 19.40, a P/E/G ratio of 1.86 and a beta of 1.21. ICON Public has a fifty-two week low of $174.93 and a fifty-two week high of $347.72. The business’s 50 day moving average price is $192.76 and its 200-day moving average price is $225.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.34 and a current ratio of 1.26.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.01. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.04 billion. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. On average, equities research analysts anticipate that ICON Public will post 13.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Natixis Advisors LLC raised its stake in ICON Public by 6.7% during the fourth quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company’s stock valued at $37,279,000 after buying an additional 11,177 shares during the last quarter. State of Tennessee Department of Treasury raised its stake in shares of ICON Public by 1.0% in the fourth quarter. State of Tennessee Department of Treasury now owns 158,947 shares of the medical research company’s stock worth $33,333,000 after purchasing an additional 1,600 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of ICON Public by 40.6% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 97,102 shares of the medical research company’s stock worth $20,363,000 after purchasing an additional 28,050 shares during the last quarter. Motley Fool Wealth Management LLC raised its stake in shares of ICON Public by 2.3% in the fourth quarter. Motley Fool Wealth Management LLC now owns 64,038 shares of the medical research company’s stock worth $13,342,000 after purchasing an additional 1,466 shares during the last quarter. Finally, Foyston Gordon & Payne Inc raised its stake in shares of ICON Public by 27.3% in the fourth quarter. Foyston Gordon & Payne Inc now owns 51,713 shares of the medical research company’s stock worth $10,845,000 after purchasing an additional 11,089 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.