Mizuho Has Lowered Expectations for ICON Public (NASDAQ:ICLR) Stock Price

ICON Public (NASDAQ:ICLR - Get Free Report) had its price objective reduced by equities researchers at Mizuho from $238.00 to $200.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the medical research company's stock. Mizuho's price target would suggest a potential upside of 36.58% from the company's previous close.

Several other analysts have also recently commented on ICLR. Robert W. Baird lowered their target price on shares of ICON Public from $221.00 to $203.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Citigroup dropped their target price on ICON Public from $290.00 to $215.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Truist Financial lowered their price target on ICON Public from $284.00 to $262.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Royal Bank of Canada reiterated an "outperform" rating and set a $263.00 price objective on shares of ICON Public in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group cut shares of ICON Public from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $250.00 to $200.00 in a research report on Friday, March 21st. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ICON Public currently has a consensus rating of "Moderate Buy" and an average price target of $232.67.

Remove Ads

ICON Public Price Performance

ICLR stock traded up $2.39 on Wednesday, reaching $146.43. The company had a trading volume of 442,100 shares, compared to its average volume of 890,808. The company's fifty day moving average is $179.62 and its 200 day moving average is $210.32. The company has a market cap of $11.83 billion, a P/E ratio of 15.37, a PEG ratio of 1.86 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.34 and a current ratio of 1.26. ICON Public has a 1 year low of $138.51 and a 1 year high of $347.72.

ICON Public (NASDAQ:ICLR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 EPS for the quarter, beating analysts' consensus estimates of $3.41 by $0.01. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.04 billion. On average, research analysts forecast that ICON Public will post 13.38 earnings per share for the current year.

Institutional Trading of ICON Public

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tributary Capital Management LLC increased its holdings in ICON Public by 116.1% during the 4th quarter. Tributary Capital Management LLC now owns 3,950 shares of the medical research company's stock worth $828,000 after purchasing an additional 2,122 shares during the last quarter. GAMMA Investing LLC increased 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 buying an additional 169 shares during the last quarter. Entropy Technologies LP raised its holdings in ICON Public by 472.2% in the fourth quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company's stock valued at $1,295,000 after acquiring an additional 5,095 shares in the last quarter. Natixis Advisors LLC boosted its stake in ICON Public by 6.7% during the 4th quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company's stock valued at $37,279,000 after acquiring an additional 11,177 shares during the last quarter. Finally, Motley Fool Wealth Management LLC grew its holdings in ICON Public by 2.3% during the 4th quarter. Motley Fool Wealth Management LLC now owns 64,038 shares of the medical research company's stock worth $13,342,000 after acquiring an additional 1,466 shares in the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

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.