TD Cowen Downgrades ICON Public (NASDAQ:ICLR) to Hold

ICON Public (NASDAQ:ICLR) was downgraded by equities researchers at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $157.00 price objective on the medical research company’s stock. TD Cowen’s price target suggests a potential upside of 9.00% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Mizuho lowered their target price on shares of ICON Public from $238.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Truist Financial lowered their price objective on shares of ICON Public from $262.00 to $208.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group downgraded shares of ICON Public from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $200.00 in a research report on Friday, March 21st. Finally, Citigroup reduced their price objective on shares of ICON Public from $290.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ICON Public has a consensus rating of “Moderate Buy” and a consensus target price of $232.67.

ICON Public Stock Performance

ICLR opened at $144.04 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.34 and a debt-to-equity ratio of 0.36. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.86 and a beta of 1.24. ICON Public has a 12-month low of $138.51 and a 12-month high of $347.72. The company’s 50 day moving average is $179.62 and its 200 day moving average is $210.32.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in shares of ICON Public during the first quarter worth approximately $59,000. GAMMA Investing LLC increased its stake in ICON Public by 15,701.6% in the 1st quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company’s stock valued at $119,730,000 after purchasing an additional 67,988 shares in the last quarter. Foyston Gordon & Payne Inc increased its position in shares of ICON Public by 27.3% in the fourth quarter. Foyston Gordon & Payne Inc now owns 51,713 shares of the medical research company’s stock valued at $10,845,000 after buying an additional 11,089 shares in the last quarter. Captrust Financial Advisors raised its position in ICON Public by 2.0% during the fourth quarter. Captrust Financial Advisors now owns 35,301 shares of the medical research company’s stock worth $7,403,000 after acquiring an additional 701 shares during the last quarter. Finally, State of Tennessee Department of Treasury lifted its stake in ICON Public by 1.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 158,947 shares of the medical research company’s stock valued at $33,333,000 after buying an additional 1,600 shares in 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.