ICON Public (NASDAQ:ICLR) Downgraded by Baird R W

ICON Public (NASDAQ:ICLR) was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

Several other equities analysts have also recently issued reports on ICLR. Robert W. Baird cut shares of ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price target on the stock. in a research report on Thursday. Redburn Atlantic initiated coverage on ICON Public in a research report on Monday, October 14th. They set a “neutral” rating and a $311.00 price objective for the company. Leerink Partners began coverage on shares of ICON Public in a research report on Wednesday, September 18th. They issued an “outperform” rating and a $379.00 target price on the stock. Evercore ISI decreased their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Finally, Truist Financial cut their price objective on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Four equities research 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $346.09.

ICON Public Price Performance

ICLR stock opened at $221.73 on Thursday. The stock has a market capitalization of $18.29 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 1.35 and a beta of 1.22. The firm’s 50-day moving average price is $299.79 and its two-hundred day moving average price is $310.96. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. ICON Public has a 12-month low of $220.51 and a 12-month high of $347.72.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.13 billion. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The company’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 earned $3.10 EPS. As a group, equities analysts predict that ICON Public will post 14.54 earnings per share for the current year.

Institutional Investors Weigh In On ICON Public

A number of hedge funds have recently added to or reduced their stakes in ICLR. Arkadios Wealth Advisors grew its holdings in shares of ICON Public by 5.0% in the third quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company’s stock worth $371,000 after acquiring an additional 62 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of ICON Public by 23.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock valued at $147,000 after purchasing an additional 96 shares during the period. Whittier Trust Co. grew its stake in shares of ICON Public by 12.3% during 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. Sara Bay Financial bought a new position in shares of ICON Public in the 3rd quarter worth approximately $1,143,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of ICON Public by 39.2% in the second quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock worth $129,000 after buying an additional 111 shares during the last quarter. 95.61% of the stock is currently owned by hedge funds and other 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.