Barclays Has Lowered Expectations for ICON Public (NASDAQ:ICLR) Stock Price

ICON Public (NASDAQ:ICLR) had its price objective dropped by investment analysts at Barclays from $275.00 to $240.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective points to a potential upside of 18.91% from the stock’s current price.

Several other brokerages have also recently issued reports on ICLR. Truist Financial reduced their price objective on ICON Public from $284.00 to $262.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Robert W. Baird lowered their price target on ICON Public from $249.00 to $225.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Citigroup decreased their target price on ICON Public from $300.00 to $290.00 and set a “buy” rating for the company in a research report on Monday, January 6th. TD Cowen cut their price target on ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Leerink Partners restated an “outperform” rating and set a $255.00 price objective (down previously from $270.00) on shares of ICON Public in a research note on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.00.

ICON Public Trading Up 5.5 %

Shares of ICLR stock opened at $201.84 on Friday. The business’s 50 day moving average is $203.04 and its two-hundred day moving average is $246.13. ICON Public has a twelve month low of $181.51 and a twelve month high of $347.72. The company has a market capitalization of $16.65 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported $3.42 EPS for the quarter, beating the consensus estimate of $3.41 by $0.01. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.04 billion. ICON Public had a return on equity of 11.79% and a net margin of 9.56%. Equities analysts forecast that ICON Public will post 13.38 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Sierra Ocean LLC acquired a new position in ICON Public during the 4th quarter worth $29,000. Park Place Capital Corp lifted its holdings in ICON Public by 281.4% during the 4th quarter. Park Place Capital Corp now owns 225 shares of the medical research company’s stock worth $47,000 after buying an additional 166 shares in the last quarter. Private Trust Co. NA lifted its holdings in ICON Public by 48.8% during the 4th quarter. Private Trust Co. NA now owns 250 shares of the medical research company’s stock worth $52,000 after buying an additional 82 shares in the last quarter. GAMMA Investing LLC lifted its holdings in ICON Public by 64.0% during the 4th quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after buying an additional 169 shares in the last quarter. Finally, Horizon Investments LLC lifted its holdings in ICON Public by 534.0% during the 4th quarter. Horizon Investments LLC now owns 653 shares of the medical research company’s stock worth $137,000 after buying an additional 550 shares in the last quarter. 95.61% of the stock is owned by institutional investors and hedge funds.

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.