ICON Public (NASDAQ:ICLR) Cut to Neutral at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of ICON Public (NASDAQ:ICLR - Free Report) from a buy rating to a neutral rating in a research note issued to investors on Friday morning, Marketbeat.com reports. The Goldman Sachs Group currently has $200.00 target price on the medical research company's stock, down from their previous target price of $250.00.

ICLR has been the subject of several other research reports. Truist Financial cut 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. William Blair restated an "outperform" rating on shares of ICON Public in a research note on Tuesday, January 14th. Royal Bank of Canada reiterated an "outperform" rating and set a $263.00 price target on shares of ICON Public in a research note on Wednesday, January 15th. Barclays dropped their price objective on shares of ICON Public from $275.00 to $240.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Finally, Robert W. Baird decreased their target price on shares of ICON Public from $221.00 to $203.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ICON Public has a consensus rating of "Moderate Buy" and a consensus target price of $272.50.

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ICON Public Stock Performance

Shares of ICLR traded down $5.42 during mid-day trading on Friday, hitting $179.02. The company's stock had a trading volume of 945,774 shares, compared to its average volume of 833,713. The stock's 50-day moving average is $191.67 and its two-hundred day moving average is $223.96. The firm has a market capitalization of $14.46 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.86 and a beta of 1.21. 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 one year low of $174.93 and a one year high of $347.72.

ICON Public (NASDAQ:ICLR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported $3.42 earnings per share for the quarter, beating analysts' consensus estimates of $3.41 by $0.01. ICON Public had a net margin of 9.56% and a return on equity of 11.81%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. As a group, sell-side analysts anticipate that ICON Public will post 13.38 EPS for the current year.

Institutional Investors Weigh In On ICON Public

Large investors have recently bought and sold shares of the business. First Horizon Advisors Inc. grew its holdings 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 worth $172,000 after purchasing an additional 151 shares during the last quarter. Icon Wealth Advisors LLC lifted its position 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 buying an additional 11,840 shares in the last quarter. Foyston Gordon & Payne Inc bought a new stake in ICON Public during the 3rd quarter worth about $11,672,000. GAMMA Investing LLC increased its position in ICON Public by 64.0% in the 4th 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 in the last quarter. Finally, Steph & Co. raised its stake 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 worth $327,000 after acquiring an additional 55 shares during the last quarter. 95.61% of the stock is currently owned by institutional investors.

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.