ICON Public (NASDAQ:ICLR) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of ICON Public (NASDAQ:ICLR) from an overweight rating to a neutral rating in a report issued on Tuesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $150.00 price target on the medical research company’s stock, down from their prior price target of $265.00.

Several other research firms have also recently issued reports on ICLR. Citigroup decreased their price target on shares of ICON Public from $290.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Barclays reaffirmed an “equal weight” rating and issued a $165.00 target price (down from $240.00) on shares of ICON Public in a research note on Thursday, April 10th. Mizuho reduced their price target on ICON Public from $238.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada restated an “outperform” rating and set a $263.00 price objective on shares of ICON Public in a report on Wednesday, January 15th. Finally, Robert W. Baird dropped their target price on ICON Public from $221.00 to $203.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ICON Public currently has an average rating of “Moderate Buy” and a consensus price target of $223.08.

ICON Public Stock Performance

NASDAQ ICLR opened at $145.21 on Tuesday. The business has a 50 day moving average price of $166.12 and a 200 day moving average price of $197.17. The company has a market capitalization of $11.73 billion, a P/E ratio of 15.24, a PEG ratio of 1.86 and a beta of 1.24. ICON Public has a 1-year low of $133.28 and a 1-year high of $347.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.34.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings results on Wednesday, April 30th. The medical research company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.17 by $0.02. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business posted $3.47 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts expect that ICON Public will post 13.38 EPS for the current fiscal year.

Hedge Funds Weigh In On ICON Public

Hedge funds have recently made changes to their positions in the business. Sierra Ocean LLC acquired a new stake in ICON Public in the 4th quarter valued at $29,000. Park Place Capital Corp grew its stake in shares of ICON Public by 281.4% in the fourth quarter. Park Place Capital Corp now owns 225 shares of the medical research company’s stock valued at $47,000 after buying an additional 166 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of ICON Public by 48.8% during the 4th quarter. Private Trust Co. NA now owns 250 shares of the medical research company’s stock valued at $52,000 after buying an additional 82 shares during the period. NBC Securities Inc. acquired a new position in ICON Public during the 1st quarter worth approximately $59,000. Finally, GAMMA Investing LLC boosted its holdings in ICON Public by 64.0% in the 4th quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after acquiring an additional 169 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.