Royal Bank of Canada Reaffirms Outperform Rating for ICON Public (NASDAQ:ICLR)

ICON Public (NASDAQ:ICLR - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $263.00 price target on the medical research company's stock. Royal Bank of Canada's price target suggests a potential upside of 31.85% from the company's current price.

Other equities research analysts also recently issued reports about the company. Citigroup lowered their price target on ICON Public from $300.00 to $290.00 and set a "buy" rating for the company in a report on Monday, January 6th. William Blair restated an "outperform" rating on shares of ICON Public in a report on Tuesday. StockNews.com lowered shares of ICON Public from a "buy" rating to a "hold" rating in a research note on Thursday, September 19th. Baird R W downgraded shares of ICON Public from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, Barclays cut their price objective on shares of ICON Public from $330.00 to $275.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $287.00.

ICON Public Trading Down 0.4 %

ICON Public stock traded down $0.77 during midday trading on Wednesday, hitting $199.47. 1,878,385 shares of the stock were exchanged, compared to its average volume of 1,008,265. The stock has a market capitalization of $16.46 billion, a PE ratio of 22.24, a P/E/G ratio of 1.54 and a beta of 1.20. The company has a fifty day simple moving average of $210.79 and a two-hundred day simple moving average of $270.01. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. ICON Public has a 52 week low of $183.38 and a 52 week high of $347.72.

ICON Public (NASDAQ:ICLR - Get Free Report) last announced its quarterly earnings results 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 return on equity of 11.91% and a net margin of 9.00%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business earned $3.10 earnings per share. The company's revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that ICON Public will post 13.42 EPS for the current fiscal year.

Hedge Funds Weigh In On ICON Public

Several hedge funds have recently modified their holdings of ICLR. GAMMA Investing LLC lifted its stake in ICON Public by 64.0% in the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company's stock valued at $91,000 after acquiring an additional 169 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in ICON Public by 39.2% during 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 during the period. Whittier Trust Co. of Nevada Inc. increased its position in 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 worth $147,000 after buying an additional 96 shares during the last quarter. First Horizon Advisors Inc. raised its stake in ICON Public by 33.9% in the third quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company's stock valued at $172,000 after buying an additional 151 shares during the period. Finally, Steph & Co. lifted its position in shares of ICON Public by 3.7% in the fourth quarter. Steph & Co. now owns 1,560 shares of the medical research company's stock valued at $327,000 after buying an additional 55 shares during 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.