ICON Public (NASDAQ:ICLR) Downgraded to Hold Rating by TD Cowen

ICON Public (NASDAQ:ICLR - Get Free Report) was downgraded by equities researchers at TD Cowen from a "buy" rating to a "hold" rating in a report issued on Monday, Marketbeat reports. They currently have a $157.00 target price on the medical research company's stock, down from their prior target price of $254.00. TD Cowen's price objective would indicate a potential upside of 12.74% from the company's previous close.

ICLR has been the subject of several other reports. Robert W. Baird cut their price objective on shares of ICON Public from $221.00 to $203.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Barclays restated an "equal weight" rating and set a $165.00 price target (down previously from $240.00) on shares of ICON Public in a report on Thursday, April 10th. Truist Financial reduced their price target on shares of ICON Public from $262.00 to $208.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group lowered ICON Public from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $250.00 to $200.00 in a research report on Friday, March 21st. Finally, Citigroup reduced their target price on ICON Public from $290.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $232.67.

ICON Public Price Performance

Shares of ICLR traded down $4.29 during trading hours on Monday, hitting $139.26. 1,758,848 shares of the stock were exchanged, compared to its average volume of 904,919. The stock's 50-day moving average price is $174.62 and its two-hundred day moving average price is $206.43. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth 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 12-month low of $137.87 and a 12-month high of $347.72.

ICON Public (NASDAQ:ICLR - Get Free Report) last released its earnings results on Wednesday, February 19th. The medical research company reported $3.42 earnings per share for the quarter, topping 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 business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.04 billion. Research analysts expect that ICON Public will post 13.38 earnings per share for the current year.

Hedge Funds Weigh In On ICON Public

Several institutional investors have recently bought and sold shares of the company. Sierra Ocean LLC acquired a new position in ICON Public during the 4th quarter worth approximately $29,000. Park Place Capital Corp grew its holdings in ICON Public by 281.4% during the fourth quarter. Park Place Capital Corp now owns 225 shares of the medical research company's stock worth $47,000 after acquiring an additional 166 shares during the period. Private Trust Co. NA raised its position in ICON Public by 48.8% in the fourth quarter. Private Trust Co. NA now owns 250 shares of the medical research company's stock worth $52,000 after acquiring an additional 82 shares in the last quarter. NBC Securities Inc. acquired a new stake in ICON Public in the first quarter valued at $59,000. Finally, GAMMA Investing LLC boosted its position in shares of ICON Public by 64.0% during the 4th 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. 95.61% of the stock is owned by institutional investors and hedge funds.

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.