ICON Public (NASDAQ:ICLR) Downgraded by TD Cowen to “Hold”

TD Cowen cut shares of ICON Public (NASDAQ:ICLR) from a buy rating to a hold rating in a report issued on Monday, Marketbeat reports. They currently have $157.00 target price on the medical research company’s stock, down from their prior target price of $254.00.

ICLR has been the subject of several other reports. Robert W. Baird reduced their price objective 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. JPMorgan Chase & Co. cut their price target on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. William Blair restated an “outperform” rating on shares of ICON Public in a research report on Tuesday, January 14th. Truist Financial reduced their target price on ICON Public from $262.00 to $208.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group lowered shares of ICON Public from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $200.00 in a research report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ICON Public has an average rating of “Moderate Buy” and a consensus price target of $232.67.

ICON Public Stock Up 1.9 %

ICLR opened at $146.74 on Monday. The stock has a market capitalization of $11.85 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 1.86 and a beta of 1.24. 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 has a one year low of $138.51 and a one year high of $347.72. The business’s 50-day simple moving average is $178.63 and its 200-day simple moving average is $209.35.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.01. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. Analysts anticipate that ICON Public will post 13.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICLR. GAMMA Investing LLC boosted its holdings in shares of ICON Public by 64.0% during the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock valued at $91,000 after acquiring an additional 169 shares during the period. Steph & Co. grew its position in ICON Public by 3.7% in the 4th quarter. Steph & Co. now owns 1,560 shares of the medical research company’s stock worth $327,000 after purchasing an additional 55 shares during the last quarter. Park Place Capital Corp increased 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 purchasing an additional 166 shares during the period. Avior Wealth Management LLC raised its holdings in shares of ICON Public by 76.0% during the fourth quarter. Avior Wealth Management LLC now owns 894 shares of the medical research company’s stock valued at $187,000 after buying an additional 386 shares during the last quarter. Finally, Tributary Capital Management LLC grew its holdings in ICON Public by 116.1% in the 4th quarter. Tributary Capital Management LLC now owns 3,950 shares of the medical research company’s stock worth $828,000 after buying an additional 2,122 shares in the last quarter. Institutional investors and hedge funds 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.