Robert W. Baird Issues Pessimistic Forecast for ICON Public (NASDAQ:ICLR) Stock Price

ICON Public (NASDAQ:ICLR) had its price target cut by equities research analysts at Robert W. Baird from $249.00 to $225.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Robert W. Baird’s target price would suggest a potential upside of 15.03% from the company’s current price.

A number of other research analysts have also recently issued reports on ICLR. TD Cowen decreased their target price on ICON Public from $369.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group decreased their price objective on ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Leerink Partnrs upgraded shares of ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Evercore ISI reduced their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, Barclays dropped their price objective on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.45.

ICON Public Stock Up 4.5 %

Shares of ICON Public stock opened at $195.60 on Wednesday. The stock has a market cap of $16.14 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. The business has a fifty day simple moving average of $263.10 and a 200 day simple moving average of $299.72. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. ICON Public has a 12 month low of $183.38 and a 12 month high of $347.72.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.37). The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.13 billion. ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.10 EPS. Research analysts predict that ICON Public will post 13.43 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Liontrust Investment Partners LLP grew its stake in shares of ICON Public by 19.5% in the second quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock valued at $37,531,000 after buying an additional 19,546 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its position in shares of ICON Public by 15.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock valued at $30,016,000 after acquiring an additional 13,163 shares during the period. Foyston Gordon & Payne Inc acquired a new position in shares of ICON Public during the 3rd quarter worth about $11,672,000. Icon Wealth Advisors LLC raised its holdings in shares of ICON Public by 861.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock valued at $3,797,000 after purchasing an additional 11,840 shares during the period. Finally, Whittier Trust Co. raised its holdings in shares of ICON Public by 12.3% in the 3rd quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock valued at $1,155,000 after purchasing an additional 441 shares during the period. 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.