The Goldman Sachs Group Lowers ICON Public (NASDAQ:ICLR) Price Target to $280.00

ICON Public (NASDAQ:ICLR) had its price target decreased by equities research analysts at The Goldman Sachs Group from $370.00 to $280.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 23.60% from the company’s previous close.

Other analysts have also issued reports about the stock. Leerink Partners reduced their price objective on shares of ICON Public from $376.00 to $270.00 and set an “outperform” rating for the company in a research note on Friday. Robert W. Baird lowered shares of ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price target for the company. in a research report on Thursday. StockNews.com lowered shares of ICON Public from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Barclays reduced their price target on shares of ICON Public from $350.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Finally, Truist Financial cut their price objective on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ICON Public presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.45.

ICON Public Price Performance

NASDAQ ICLR traded up $4.80 on Friday, reaching $226.53. The company’s stock had a trading volume of 1,093,236 shares, compared to its average volume of 613,582. ICON Public has a twelve month low of $220.51 and a twelve month high of $347.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market cap of $18.69 billion, a PE ratio of 27.70, a PEG ratio of 1.35 and a beta of 1.22. The firm’s 50 day moving average is $299.79 and its two-hundred day moving average is $310.96.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company posted $3.10 earnings per share. ICON Public’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that ICON Public will post 14.54 EPS for the current year.

Institutional Investors Weigh In On ICON Public

Institutional investors and hedge funds have recently made changes to their positions in the company. Arkadios Wealth Advisors raised its holdings in shares of ICON Public by 5.0% in the third quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company’s stock valued at $371,000 after buying an additional 62 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of ICON Public by 23.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock valued at $147,000 after buying an additional 96 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of ICON Public by 12.3% in the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock valued at $1,155,000 after buying an additional 441 shares during the last quarter. Sara Bay Financial bought a new position in shares of ICON Public in the third quarter valued at about $1,143,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of ICON Public by 39.2% in the second quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock valued at $129,000 after buying an additional 111 shares during the last quarter. Institutional investors and hedge funds 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.