Evercore ISI Cuts ICON Public (NASDAQ:ICLR) Price Target to $350.00

ICON Public (NASDAQ:ICLR) had its target price cut by Evercore ISI from $360.00 to $350.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other equities analysts also recently issued reports on the company. Robert W. Baird cut their target price on ICON Public from $368.00 to $340.00 and set an outperform rating on the stock in a research report on Friday, September 20th. 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. Truist Financial reiterated a buy rating and issued a $383.00 target price on shares of ICON Public in a research report on Wednesday, September 11th. Leerink Partnrs raised shares of ICON Public to a strong-buy rating in a research report on Wednesday, September 18th. Finally, Leerink Partners began coverage on shares of ICON Public in a report on Wednesday, September 18th. They issued an outperform rating and a $379.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ICON Public has an average rating of Buy and a consensus target price of $353.60.

ICON Public Price Performance

Shares of NASDAQ ICLR opened at $296.29 on Tuesday. ICON Public has a fifty-two week low of $221.20 and a fifty-two week high of $347.72. The company has a market cap of $24.44 billion, a PE ratio of 34.53, a P/E/G ratio of 1.35 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. The business has a 50-day simple moving average of $305.68 and a two-hundred day simple moving average of $313.87.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Livelsberger Financial Advisory purchased a new position in shares of ICON Public in the 4th quarter valued at about $29,000. Riverview Trust Co purchased a new stake in shares of ICON Public in the first quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of ICON Public during the 2nd quarter worth approximately $54,000. GAMMA Investing LLC raised its stake in shares of ICON Public by 22.5% during the 1st quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock worth $58,000 after buying an additional 32 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of ICON Public during the 2nd quarter valued at approximately $59,000. Institutional investors and hedge funds own 95.61% of the company’s stock.

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.