ICON Public (NASDAQ:ICLR) Price Target Cut to $340.00 by Analysts at Robert W. Baird

ICON Public (NASDAQ:ICLR) had its target price lowered by analysts at Robert W. Baird from $368.00 to $340.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 12.19% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Truist Financial reissued a “buy” rating and issued a $383.00 price objective on shares of ICON Public in a report on Wednesday, September 11th. The Goldman Sachs Group initiated coverage on ICON Public in a research note on Thursday, June 6th. They issued a “buy” rating and a $370.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of ICON Public in a report on Friday, May 31st. StockNews.com lowered ICON Public from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Leerink Partners began coverage on ICON Public in a research note on Wednesday. They issued an “outperform” rating and a $379.00 price target for the company. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ICON Public presently has an average rating of “Buy” and a consensus price target of $351.60.

ICON Public Price Performance

Shares of ICLR opened at $303.07 on Friday. The company’s 50-day moving average is $317.00 and its 200-day moving average is $318.08. 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 firm has a market capitalization of $25.00 billion, a PE ratio of 36.87, a PEG ratio of 1.29 and a beta of 1.22. ICON Public has a fifty-two week low of $221.20 and a fifty-two week high of $347.72.

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

Institutional Trading of ICON Public

A number of hedge funds and other institutional investors have recently modified their holdings of ICLR. Livelsberger Financial Advisory bought a new position in shares of ICON Public in the 4th quarter valued at $29,000. Riverview Trust Co bought a new position in ICON Public in the first quarter valued at about $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of ICON Public during the second quarter valued at about $54,000. GAMMA Investing LLC grew its holdings in shares of ICON Public by 22.5% during the first quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock worth $58,000 after purchasing an additional 32 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in shares of ICON Public in the second quarter valued at approximately $59,000. 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.