ICON Public (NASDAQ:ICLR) Earns Outperform Rating from Analysts at Leerink Partners

Leerink Partners assumed coverage on shares of ICON Public (NASDAQ:ICLR) in a research note released on Wednesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $379.00 price target on the medical research company’s stock.

Several other equities analysts have also commented on the company. William Blair restated an outperform rating on shares of ICON Public in a research note on Friday, May 31st. TD Cowen raised their price objective on ICON Public from $349.00 to $373.00 and gave the company a buy rating in a research report on Friday, May 31st. StockNews.com raised ICON Public from a hold rating to a buy rating in a research report on Wednesday, September 11th. Barclays dropped their price objective on ICON Public from $355.00 to $350.00 and set an overweight rating on the stock in a research report on Friday, July 26th. Finally, Truist Financial reaffirmed a buy rating and set a $383.00 price objective on shares of ICON Public in a research report on Wednesday, September 11th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $351.60.

ICON Public Stock Performance

NASDAQ:ICLR opened at $303.07 on Wednesday. The stock’s fifty day moving average is $317.66 and its 200 day moving average is $318.39. ICON Public has a fifty-two week low of $221.20 and a fifty-two week high of $347.72. The firm has a market capitalization of $25.00 billion, a PE ratio of 36.72, a PEG ratio of 1.29 and a beta of 1.22. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.31.

ICON Public (NASDAQ:ICLR) last released its earnings results on Wednesday, July 24th. The medical research company reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.68 by $0.07. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the firm posted $2.96 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that ICON Public will post 14.54 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Riverview Trust Co purchased a new position in shares of ICON Public in the first quarter worth about $31,000. Livelsberger Financial Advisory purchased a new position in ICON Public during the fourth quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC purchased a new position in ICON Public during the second quarter valued at approximately $54,000. GAMMA Investing LLC raised its position in ICON Public by 22.5% during the first quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 32 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in ICON Public during the second quarter valued at approximately $59,000. 95.61% of the stock is currently 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.