ICON Public (NASDAQ:ICLR) Now Covered by Royal Bank of Canada

Research analysts at Royal Bank of Canada initiated coverage on shares of ICON Public (NASDAQ:ICLR - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set an "outperform" rating and a $263.00 price target on the medical research company's stock. Royal Bank of Canada's target price indicates a potential upside of 18.16% from the company's current price.

A number of other analysts have also weighed in on the company. Evercore ISI lowered 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. Robert W. Baird decreased their price target on shares of ICON Public from $249.00 to $225.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 20th. Baird R W cut shares of ICON Public from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th. Truist Financial reiterated a "buy" rating and issued a $284.00 price objective (down from $295.00) on shares of ICON Public in a research report on Wednesday, December 18th. Finally, Barclays cut their price target on ICON Public from $330.00 to $275.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $287.00.

ICON Public Price Performance

Shares of ICLR traded up $7.07 during trading hours on Tuesday, hitting $222.58. The stock had a trading volume of 1,017,871 shares, compared to its average volume of 647,743. ICON Public has a 52 week low of $183.38 and a 52 week high of $347.72. The stock has a market capitalization of $18.36 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 1.54 and a beta of 1.20. The company's fifty day moving average is $211.60 and its two-hundred day moving average is $273.51. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick 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 the consensus estimate of $3.72 by ($0.37). The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.13 billion. ICON Public had a return on equity of 11.91% and a net margin of 9.00%. The business's quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.10 EPS. On average, analysts anticipate that ICON Public will post 13.42 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ICLR. Foyston Gordon & Payne Inc acquired a new stake in ICON Public in the third quarter worth $11,672,000. Icon Wealth Advisors LLC lifted its holdings in ICON Public by 861.1% during the third quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company's stock worth $3,797,000 after acquiring an additional 11,840 shares in the last quarter. Sara Bay Financial acquired a new position in ICON Public in the third quarter valued at about $1,143,000. Whittier Trust Co. grew its stake in ICON Public by 12.3% in the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company's stock valued at $1,155,000 after acquiring an additional 441 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of ICON Public during the second quarter worth about $54,000. 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.