StockNews.com Downgrades ICON Public (NASDAQ:ICLR) to Hold

StockNews.com downgraded shares of ICON Public (NASDAQ:ICLR) from a buy rating to a hold rating in a report published on Thursday morning.

A number of other equities research analysts have also recently commented on ICLR. The Goldman Sachs Group started coverage on shares of ICON Public in a report on Thursday, June 6th. They issued a buy rating and a $370.00 price target for the company. Leerink Partners initiated coverage on ICON Public in a research note on Wednesday, September 18th. They issued an outperform rating and a $379.00 target price for the company. William Blair reaffirmed an outperform rating on shares of ICON Public in a research note on Friday, May 31st. Barclays reduced their price objective on ICON Public from $355.00 to $350.00 and set an overweight rating for the company in a research note on Friday, July 26th. Finally, TD Cowen upped their target price on ICON Public from $349.00 to $373.00 and gave the stock a buy rating in a research report on Friday, May 31st. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ICON Public presently has an average rating of Buy and a consensus target price of $351.60.

ICON Public Stock Up 0.7 %

Shares of NASDAQ:ICLR opened at $303.07 on Thursday. ICON Public has a 1 year low of $221.20 and a 1 year high of $347.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.31. The business’s 50-day moving average is $317.00 and its 200-day moving average is $317.95. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 1.29 and a beta of 1.22.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.07. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.14 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.96 earnings per share. Equities research analysts predict that ICON Public will post 14.54 earnings per share for the current year.

Institutional Investors Weigh In On ICON Public

A number of institutional investors and hedge funds have recently bought and sold shares of ICLR. CIBC Private Wealth Group LLC boosted its holdings in ICON Public by 0.9% during 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 acquiring an additional 6,331 shares during the last quarter. State of Tennessee Treasury Department lifted its position in shares of ICON Public by 4.9% during the fourth quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company’s stock valued at $44,101,000 after purchasing an additional 7,270 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in ICON Public during the fourth quarter worth about $29,000. GAMMA Investing LLC grew its position in ICON Public by 22.5% in the 1st quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock worth $58,000 after purchasing an additional 32 shares in the last quarter. Finally, Steph & Co. lifted its position in shares of ICON Public by 11.2% during the 1st quarter. Steph & Co. now owns 1,852 shares of the medical research company’s stock worth $622,000 after buying an additional 186 shares in the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

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.