Evercore ISI Lowers ICON Public (NASDAQ:ICLR) Price Target to $330.00

ICON Public (NASDAQ:ICLR) had its price objective reduced by Evercore ISI from $350.00 to $330.00 in a report issued on Friday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

A number of other analysts have also recently commented on the stock. Robert W. Baird boosted their target price on shares of ICON Public from $362.00 to $363.00 and gave the company an outperform rating in a report on Friday. TD Cowen boosted their target price on shares of ICON Public from $343.00 to $349.00 and gave the company a buy rating in a report on Friday. Mizuho restated a buy rating and set a $346.00 target price on shares of ICON Public in a report on Thursday, April 4th. Truist Financial boosted their target price on shares of ICON Public from $357.00 to $367.00 and gave the company a buy rating in a 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 assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $327.50.

ICON Public Stock Performance

NASDAQ:ICLR opened at $304.14 on Friday. The stock has a market cap of $25.09 billion, a P/E ratio of 37.00, a price-to-earnings-growth ratio of 1.45 and a beta of 1.15. The firm’s fifty day simple moving average is $319.19 and its 200 day simple moving average is $283.75. ICON Public has a twelve month low of $181.92 and a twelve month high of $344.77. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.36.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, February 21st. The medical research company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.13. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.08 billion. ICON Public had a net margin of 8.30% and a return on equity of 11.70%. As a group, research analysts predict that ICON Public will post 14.4 EPS for the current year.

Hedge Funds Weigh In On ICON Public

Several large investors have recently modified their holdings of ICLR. Liontrust Investment Partners LLP raised its position in shares of ICON Public by 108.4% in the 3rd quarter. Liontrust Investment Partners LLP now owns 89,860 shares of the medical research company’s stock worth $22,129,000 after purchasing an additional 46,739 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of ICON Public by 50.7% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 74,820 shares of the medical research company’s stock worth $21,179,000 after purchasing an additional 25,160 shares during the last quarter. State of Tennessee Treasury Department raised its position in ICON Public by 4.9% in the 4th quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company’s stock worth $44,101,000 after buying an additional 7,270 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in ICON Public by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 695,932 shares of the medical research company’s stock worth $196,998,000 after buying an additional 6,331 shares during the last quarter. Finally, Cullen Investment Group LTD. purchased a new position in ICON Public in the 4th quarter worth about $1,620,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.

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.