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

ICON Public (NASDAQ:ICLR - Get Free Report) had its target price reduced by equities research analysts at Citigroup from $300.00 to $290.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the medical research company's stock. Citigroup's target price indicates a potential upside of 34.56% from the stock's current price.

Several other equities analysts have also recently commented on the company. Evercore ISI reduced their target price on ICON Public from $360.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price objective on shares of ICON Public from $375.00 to $280.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Redburn Atlantic began coverage on shares of ICON Public in a research report on Monday, October 14th. They issued a "neutral" rating and a $311.00 target price for the company. TD Cowen reduced their price target on shares of ICON Public from $369.00 to $285.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Finally, Leerink Partners reissued an "outperform" rating and issued a $255.00 price objective (down from $270.00) on shares of ICON Public in a report on Tuesday, November 19th. Four investment 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $289.18.

ICON Public Stock Up 1.0 %

Shares of ICLR stock traded up $2.23 on Monday, hitting $215.51. The stock had a trading volume of 532,188 shares, compared to its average volume of 524,191. The stock's 50 day moving average is $211.79 and its 200-day moving average is $274.18. The firm has a market capitalization 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 52-week low of $183.38 and a 52-week high of $347.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.34.

ICON Public (NASDAQ:ICLR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing analysts' consensus estimates of $3.72 by ($0.37). ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The firm 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 company earned $3.10 earnings per share. The business's quarterly revenue was down 1.2% on a year-over-year basis. As a group, research analysts expect that ICON Public will post 13.42 earnings per share for the current year.

Hedge Funds Weigh In On ICON Public

Several institutional investors have recently modified their holdings of ICLR. Ashton Thomas Private Wealth LLC bought a new position in ICON Public in the 2nd quarter worth approximately $54,000. GAMMA Investing LLC grew its stake in shares of ICON Public by 64.0% in the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company's stock worth $91,000 after purchasing an additional 169 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of ICON Public by 39.2% in the second quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company's stock worth $129,000 after purchasing an additional 111 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of ICON Public by 23.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company's stock valued at $147,000 after purchasing an additional 96 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of ICON Public by 33.9% during the third quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company's stock valued at $172,000 after purchasing an additional 151 shares in the last quarter. Institutional investors 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.