Redburn Atlantic Initiates Coverage on ICON Public (NASDAQ:ICLR)

Redburn Atlantic began coverage on shares of ICON Public (NASDAQ:ICLR) in a report published on Monday morning, MarketBeat.com reports. The firm issued a neutral rating and a $311.00 price objective on the medical research company’s stock.

Several other research analysts have also commented on the company. Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. Barclays lowered their price target on ICON Public from $355.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Robert W. Baird lowered their price target on ICON Public from $368.00 to $340.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Leerink Partners initiated coverage on ICON Public in a research report on Wednesday, September 18th. They set an “outperform” rating and a $379.00 price target for the company. Finally, Truist Financial reiterated a “buy” rating and issued a $383.00 price objective on shares of ICON Public in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $346.09.

ICON Public Trading Up 0.6 %

Shares of ICON Public stock opened at $295.24 on Monday. The firm has a market capitalization of $24.36 billion, a price-to-earnings ratio of 35.92, a PEG ratio of 1.35 and a beta of 1.22. ICON Public has a fifty-two week low of $221.20 and a fifty-two week high of $347.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a 50 day moving average of $304.02 and a 200 day moving average of $312.59.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $3.75 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.07. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $2.96 earnings per share. As a group, research analysts predict that ICON Public will post 14.54 earnings per share for the current year.

Institutional Trading of ICON Public

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Riverview Trust Co acquired a new stake in shares of ICON Public during the first quarter worth about $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of ICON Public during the second quarter worth about $54,000. GAMMA Investing LLC increased its position in shares of ICON Public by 22.5% during the first quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock worth $58,000 after purchasing an additional 32 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of ICON Public during the second quarter worth about $59,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of ICON Public by 410.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 189 shares of the medical research company’s stock worth $63,000 after purchasing an additional 152 shares in the last quarter. 95.61% of the stock is currently 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.