Citigroup Cuts ICON Public (NASDAQ:ICLR) Price Target to $290.00

ICON Public (NASDAQ:ICLR) had its price target reduced by investment analysts at Citigroup from $300.00 to $290.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Citigroup’s target price suggests a potential upside of 34.56% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Leerink Partners reaffirmed an “outperform” rating and issued a $255.00 price objective (down from $270.00) on shares of ICON Public in a research report on Tuesday, November 19th. Redburn Atlantic assumed coverage on shares of ICON Public in a research note on Monday, October 14th. They set a “neutral” rating and a $311.00 price objective for the company. Leerink Partnrs raised ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. Baird R W downgraded ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Barclays reduced their price objective on ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $289.18.

ICON Public Stock Up 1.0 %

Shares of NASDAQ ICLR traded up $2.23 during midday trading on Monday, reaching $215.51. 531,518 shares of the company’s stock traded hands, compared to its average volume of 509,749. The stock’s 50 day simple moving average is $212.09 and its 200-day simple moving average is $274.89. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market cap of $17.78 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 1.54 and a beta of 1.20. ICON Public has a one year low of $183.38 and a one year high of $347.72.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.37). The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.10 earnings per share. On average, analysts predict that ICON Public will post 13.42 EPS for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Several institutional investors have recently bought and sold shares of ICLR. Icon Wealth Advisors LLC boosted its stake in ICON Public by 861.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock worth $3,797,000 after purchasing an additional 11,840 shares during the last quarter. Foyston Gordon & Payne Inc purchased a new position in ICON Public in the 3rd quarter worth approximately $11,672,000. Sara Bay Financial purchased a new stake in shares of ICON Public in the third quarter valued at approximately $1,143,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of ICON Public in the second quarter valued at approximately $54,000. Finally, First Horizon Advisors Inc. lifted its position in ICON Public by 33.9% during the third quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company’s stock worth $172,000 after buying an additional 151 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

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.