The Goldman Sachs Group Downgrades ICON Public (NASDAQ:ICLR) to Neutral

ICON Public (NASDAQ:ICLR) was downgraded by stock analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued on Friday, MarketBeat.com reports. They presently have a $200.00 price objective on the medical research company’s stock, down from their previous price objective of $250.00. The Goldman Sachs Group’s price objective suggests a potential upside of 8.72% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Barclays reduced their price objective on shares of ICON Public from $275.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Citigroup reduced their price target on shares of ICON Public from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. William Blair reissued an “outperform” rating on shares of ICON Public in a report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their target price on ICON Public from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Truist Financial decreased their target price on ICON Public from $284.00 to $262.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ICON Public has a consensus rating of “Moderate Buy” and an average target price of $272.50.

ICON Public Trading Down 0.3 %

NASDAQ:ICLR opened at $183.96 on Friday. The stock has a market cap of $14.86 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.86 and a beta of 1.21. ICON Public has a one year low of $174.93 and a one year high of $347.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.34 and a current ratio of 1.26. The business’s 50-day simple moving average is $193.43 and its 200 day simple moving average is $227.86.

ICON Public (NASDAQ:ICLR) last announced its earnings results on Wednesday, February 19th. The medical research company reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.01. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.04 billion. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. As a group, sell-side analysts predict that ICON Public will post 13.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICON Public

A number of hedge funds have recently added to or reduced their stakes in ICLR. Icon Wealth Advisors LLC grew its position in shares of ICON Public by 861.1% during the third quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock worth $3,797,000 after acquiring an additional 11,840 shares during the last quarter. Foyston Gordon & Payne Inc bought a new position in ICON Public in the 3rd quarter worth about $11,672,000. Tributary Capital Management LLC increased its stake in shares of ICON Public by 116.1% in the fourth quarter. Tributary Capital Management LLC now owns 3,950 shares of the medical research company’s stock valued at $828,000 after purchasing an additional 2,122 shares during the period. GAMMA Investing LLC raised 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 buying an additional 169 shares during the last quarter. Finally, Entropy Technologies LP boosted its position in shares of ICON Public by 472.2% during the fourth quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company’s stock worth $1,295,000 after buying an additional 5,095 shares during the period. 95.61% of the stock is currently owned by institutional investors.

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.