ICON Public (NASDAQ:ICLR) Price Target Raised to $349.00 at TD Cowen

ICON Public (NASDAQ:ICLR) had its price objective upped by equities researchers at TD Cowen from $343.00 to $349.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. TD Cowen’s target price points to a potential upside of 13.02% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Robert W. Baird upped their price target on ICON Public from $362.00 to $363.00 and gave the company an “outperform” rating in a research report on Friday. Mizuho reaffirmed a “buy” rating and issued a $346.00 target price on shares of ICON Public in a research note on Thursday, April 4th. Truist Financial boosted their price target on shares of ICON Public from $357.00 to $367.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Evercore ISI raised their price objective on shares of ICON Public from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, Barclays boosted their target price on shares of ICON Public from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, ICON Public presently has an average rating of “Moderate Buy” and a consensus target price of $321.64.

ICON Public Price Performance

ICLR stock traded up $8.72 during midday trading on Friday, reaching $308.80. The stock had a trading volume of 404,015 shares, compared to its average volume of 562,555. ICON Public has a 52-week low of $181.92 and a 52-week high of $344.77. The company has a market cap of $25.48 billion, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 1.46 and a beta of 1.15. The company’s fifty day simple moving average is $318.31 and its 200 day simple moving average is $282.20. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.40.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, February 21st. The medical research company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.13. ICON Public had a net margin of 8.30% and a return on equity of 11.84%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.08 billion. As a group, sell-side analysts predict that ICON Public will post 14.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICON Public

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC purchased a new position in shares of ICON Public during the 4th quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new position in ICON Public during the fourth quarter worth $29,000. Pinnacle Bancorp Inc. boosted its position in shares of ICON Public by 110.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 105 shares of the medical research company’s stock worth $30,000 after buying an additional 55 shares during the period. Riverview Trust Co acquired a new stake in shares of ICON Public in the first quarter valued at $31,000. Finally, GAMMA Investing LLC purchased a new stake in shares of ICON Public in the 4th quarter valued at $37,000. 95.61% of the stock is owned by hedge funds and other institutional investors.

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.