ICON Public (NASDAQ:ICLR) Trading 3.1% Higher – Still a Buy?

ICON Public Limited (NASDAQ:ICLR) shares traded up 3.1% during trading on Thursday . The stock traded as high as $302.17 and last traded at $301.75. 98,380 shares were traded during trading, a decline of 83% from the average session volume of 573,092 shares. The stock had previously closed at $292.66.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ICLR shares. 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 report on Friday, September 20th. Barclays decreased their price objective on shares of ICON Public from $355.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Leerink Partners initiated coverage on shares of ICON Public in a report on Wednesday, September 18th. They issued an “outperform” rating and a $379.00 target price on the stock. Leerink Partnrs upgraded shares of ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Evercore ISI dropped their price objective on ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ICON Public currently has a consensus rating of “Buy” and a consensus price target of $353.60.

ICON Public Stock Up 0.1 %

The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. The business’s fifty day moving average price is $305.27 and its 200 day moving average price is $313.64. The company has a market capitalization of $24.47 billion, a P/E ratio of 34.57, a P/E/G ratio of 1.35 and a beta of 1.22.

ICON Public (NASDAQ:ICLR) last announced 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. 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 during the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm posted $2.96 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts predict that ICON Public Limited will post 14.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ICON Public

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Liontrust Investment Partners LLP raised its holdings in shares of ICON Public by 19.5% in the second quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock valued at $37,531,000 after buying an additional 19,546 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its position in ICON Public by 15.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock worth $30,016,000 after purchasing an additional 13,163 shares during the last quarter. Sara Bay Financial acquired a new stake in shares of ICON Public in the 3rd quarter valued at $1,143,000. Motco increased its position in ICON Public by 1.5% in the first quarter. Motco now owns 3,882 shares of the medical research company’s stock worth $1,304,000 after purchasing an additional 59 shares during the period. Finally, Whittier Trust Co. grew its holdings in ICON Public by 8.6% during the 2nd quarter. Whittier Trust Co. now owns 3,579 shares of the medical research company’s stock worth $1,122,000 after acquiring an additional 284 shares during the period. 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.