Barclays Trims ICON Public (NASDAQ:ICLR) Target Price to $350.00

ICON Public (NASDAQ:ICLR) had its price target lowered by Barclays from $355.00 to $350.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

Other research analysts have also recently issued research reports about the stock. Mizuho reiterated a buy rating and set a $346.00 price target on shares of ICON Public in a report on Thursday, April 4th. The Goldman Sachs Group started coverage on shares of ICON Public in a research note on Thursday, June 6th. They set a buy rating and a $370.00 target price for the company. William Blair restated an outperform rating on shares of ICON Public in a research note on Friday, May 31st. Evercore ISI decreased their price target on ICON Public from $350.00 to $330.00 and set an outperform rating for the company in a report on Friday, April 26th. Finally, TD Cowen increased their price objective on ICON Public from $349.00 to $373.00 and gave the company a buy rating in a report on Friday, May 31st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $352.56.

ICON Public Stock Up 1.8 %

ICON Public stock opened at $329.33 on Friday. The firm has a market capitalization of $27.17 billion, a P/E ratio of 40.06, a P/E/G ratio of 1.42 and a beta of 1.23. 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 twelve month low of $221.20 and a twelve month high of $347.72. The stock’s fifty day simple moving average is $322.38 and its 200-day simple moving average is $309.74.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.14 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. ICON Public’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.96 EPS. As a group, equities analysts expect that ICON Public will post 14.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Large investors have recently modified their holdings of the company. Prime Capital Investment Advisors LLC purchased a new stake in ICON Public in the 4th quarter valued at $416,000. Pinnacle Bancorp Inc. raised its holdings in shares of ICON Public by 110.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 105 shares of the medical research company’s stock valued at $30,000 after buying an additional 55 shares during the last quarter. Cullen Investment Group LTD. acquired a new stake in shares of ICON Public during the fourth quarter worth about $1,620,000. Groesbeck Investment Management Corp NJ grew its holdings in shares of ICON Public by 15.3% during the fourth quarter. Groesbeck Investment Management Corp NJ now owns 2,186 shares of the medical research company’s stock worth $619,000 after buying an additional 290 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its position in 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 valued at $21,179,000 after acquiring an additional 25,160 shares during the period. 95.61% of the stock is owned by institutional investors and hedge funds.

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.