ICON Public (NASDAQ:ICLR) Lifted to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of ICON Public (NASDAQ:ICLR) to a strong-buy rating in a report published on Wednesday, Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Barclays dropped their target price on ICON Public from $355.00 to $350.00 and set an overweight rating for the company in a report on Friday, July 26th. TD Cowen raised their price target on ICON Public from $349.00 to $373.00 and gave the company a buy rating in a report on Friday, May 31st. Truist Financial reaffirmed a buy rating and set a $383.00 price target on shares of ICON Public in a report on Wednesday, September 11th. William Blair reaffirmed an outperform rating on shares of ICON Public in a report on Friday, May 31st. Finally, Robert W. Baird reiterated an outperform rating and issued a $368.00 price objective on shares of ICON Public in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $351.60.

ICON Public Price Performance

Shares of NASDAQ:ICLR opened at $303.07 on Wednesday. The business has a 50 day moving average price of $317.00 and a 200 day moving average price of $318.08. ICON Public has a twelve month low of $221.20 and a twelve month high of $347.72. The company has a market cap of $25.00 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 1.29 and a beta of 1.22. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Livelsberger Financial Advisory acquired a new stake in ICON Public during the 4th quarter worth $29,000. Riverview Trust Co acquired a new stake in ICON Public during the 1st quarter worth $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of ICON Public in the 2nd quarter valued at about $54,000. GAMMA Investing LLC raised its stake in shares of ICON Public by 22.5% in the 1st quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 32 shares during the period. Finally, ORG Partners LLC acquired a new stake in shares of ICON Public in the 2nd quarter valued at about $59,000. 95.61% of the stock is currently owned by 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.