ICON Public Limited (NASDAQ:ICLR) Receives Consensus Recommendation of “Buy” from Analysts

ICON Public Limited (NASDAQ:ICLR) has been given an average rating of “Buy” by the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $346.09.

ICLR has been the subject of several analyst reports. Leerink Partners assumed coverage on ICON Public in a research report on Wednesday, September 18th. They issued an “outperform” rating and a $379.00 target price for the company. Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Truist Financial dropped their price objective on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. StockNews.com downgraded shares of ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Evercore ISI dropped their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th.

ICON Public Trading Down 1.0 %

NASDAQ ICLR opened at $280.76 on Friday. The firm has a market capitalization of $23.16 billion, a price-to-earnings ratio of 34.16, a PEG 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. ICON Public has a one year low of $222.32 and a one year high of $347.72. The company’s 50 day moving average price is $302.52 and its 200 day moving average price is $311.80.

ICON Public (NASDAQ:ICLR) last posted its 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 business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the business posted $2.96 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts predict that ICON Public will post 14.54 EPS for the current year.

Hedge Funds Weigh In On ICON Public

A number of hedge funds have recently added to or reduced their stakes in ICLR. Riverview Trust Co bought a new position in shares of ICON Public in the 1st quarter worth about $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in ICON Public during the second quarter worth about $54,000. GAMMA Investing LLC lifted its holdings in ICON Public by 22.5% in the first quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock worth $58,000 after acquiring an additional 32 shares during the last quarter. ORG Partners LLC acquired a new position in ICON Public in the second quarter valued at approximately $59,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of ICON Public by 410.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 189 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds 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.