Citigroup Cuts ICON Public (NASDAQ:ICLR) Price Target to $215.00

ICON Public (NASDAQ:ICLR) had its price objective cut by Citigroup from $290.00 to $215.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Other equities analysts also recently issued research reports about the company. Barclays dropped their price target on ICON Public from $275.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Truist Financial dropped their price objective 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. Robert W. Baird reduced their target price on shares of ICON Public from $221.00 to $203.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. The Goldman Sachs Group cut shares of ICON Public from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $200.00 in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $254.08.

ICON Public Stock Up 9.1 %

ICON Public stock opened at $155.49 on Monday. ICON Public has a fifty-two week low of $138.51 and a fifty-two week high of $347.72. The firm has a market capitalization of $12.56 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.86 and a beta of 1.24. The stock’s fifty day moving average is $181.66 and its two-hundred day moving average is $212.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.34 and a current ratio of 1.26.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 EPS 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 firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Analysts predict that ICON Public will post 13.38 EPS for the current fiscal year.

Institutional Investors Weigh In On ICON Public

A number of institutional investors have recently added to or reduced their stakes in ICLR. GAMMA Investing LLC lifted its stake in shares of 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 acquired a new position in ICON Public during the third quarter valued at approximately $11,672,000. Kornitzer Capital Management Inc. KS grew its stake in ICON Public by 40.6% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 97,102 shares of the medical research company’s stock worth $20,363,000 after buying an additional 28,050 shares during the period. Natixis Advisors LLC increased its position in shares of ICON Public by 6.7% in the fourth quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company’s stock worth $37,279,000 after acquiring an additional 11,177 shares in the last quarter. Finally, Entropy Technologies LP raised its stake in shares of ICON Public by 472.2% in the 4th quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company’s stock valued at $1,295,000 after acquiring an additional 5,095 shares during the period. Hedge funds and other institutional investors own 95.61% of the company’s stock.

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.