JPMorgan Chase & Co. Trims ICON Public (NASDAQ:ICLR) Target Price to $280.00

ICON Public (NASDAQ:ICLR) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $375.00 to $280.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 23.60% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Leerink Partnrs raised ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Leerink Partners decreased their price objective on ICON Public from $376.00 to $270.00 and set an “outperform” rating on the stock in a report on Friday. Redburn Atlantic assumed coverage on ICON Public in a report on Monday, October 14th. They set a “neutral” rating and a $311.00 price objective on the stock. Truist Financial decreased their price objective on ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Baird R W cut ICON Public from a “strong-buy” rating to a “hold” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $323.45.

ICON Public Price Performance

NASDAQ ICLR traded up $4.80 during trading hours on Friday, hitting $226.53. The company had a trading volume of 1,093,236 shares, compared to its average volume of 613,582. ICON Public has a 52 week low of $220.51 and a 52 week high of $347.72. The firm has a 50 day simple moving average of $299.79 and a 200 day simple moving average of $310.96. 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 firm has a market capitalization of $18.69 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.35 and a beta of 1.22.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the business earned $3.10 EPS. The business’s revenue was down 1.2% on a year-over-year basis. Equities research analysts expect that ICON Public will post 14.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ICLR. Liontrust Investment Partners LLP raised its stake in ICON Public by 19.5% during 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 stake in shares of ICON Public by 15.9% in the second 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 purchased a new position in shares of ICON Public in the third quarter worth $1,143,000. SkyView Investment Advisors LLC purchased a new position in shares of ICON Public in the first quarter worth $1,021,000. Finally, Crestwood Advisors Group LLC purchased a new position in shares of ICON Public in the second quarter worth $288,000. Hedge funds and other 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.