Barclays Cuts ICON Public (NASDAQ:ICLR) Price Target to $330.00

ICON Public (NASDAQ:ICLR) had its target price lowered by Barclays from $350.00 to $330.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

A number of other equities research analysts have also recently commented on the stock. Redburn Atlantic started coverage on shares of ICON Public in a research note on Monday, October 14th. They set a “neutral” rating and a $311.00 target price on the stock. Leerink Partnrs upgraded shares of ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Leerink Partners started 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. Truist Financial decreased their target price on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, StockNews.com lowered shares of ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $346.09.

ICON Public Price Performance

Shares of NASDAQ:ICLR opened at $297.72 on Tuesday. The firm’s 50 day moving average price is $303.72 and its 200-day moving average price is $312.36. ICON Public has a twelve month low of $221.20 and a twelve month high of $347.72. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $24.56 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $3.75 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.07. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the business earned $2.96 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Equities research analysts expect that ICON Public will post 14.54 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ICLR. Liontrust Investment Partners LLP boosted its stake in ICON Public by 19.5% during the second quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock worth $37,531,000 after buying an additional 19,546 shares during the period. Kornitzer Capital Management Inc. KS boosted 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 buying an additional 13,163 shares during the period. Sara Bay Financial purchased a new position in ICON Public during the third quarter worth $1,143,000. Motco lifted its position in shares of 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. Finally, Whittier Trust Co. lifted its position in shares of ICON Public by 8.6% during the second quarter. Whittier Trust Co. now owns 3,579 shares of the medical research company’s stock worth $1,122,000 after purchasing an additional 284 shares during the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

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.