ICON Public Limited (NASDAQ:ICLR) Receives $346.09 Consensus Target Price from Brokerages

ICON Public Limited (NASDAQ:ICLR) has been given an average rating of “Buy” by the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $346.09.

A number of brokerages have recently commented on ICLR. Evercore ISI reduced their target price on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Leerink Partners started coverage on shares of ICON Public in a research report on Wednesday, September 18th. They set an “outperform” rating and a $379.00 price objective for the company. StockNews.com cut shares of ICON Public from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Redburn Atlantic started coverage on shares of ICON Public in a research report on Monday, October 14th. They set a “neutral” rating and a $311.00 price objective for the company. Finally, Truist Financial cut their price objective on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating for the company in a research report on Monday, October 14th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Liontrust Investment Partners LLP boosted its stake in shares of ICON Public by 19.5% in the second quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock valued at $37,531,000 after purchasing an additional 19,546 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in shares of ICON Public by 15.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock valued at $30,016,000 after purchasing an additional 13,163 shares during the period. Whittier Trust Co. boosted its stake in shares of 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 purchasing an additional 441 shares during the period. Sara Bay Financial purchased a new position in shares of ICON Public in the third quarter valued at approximately $1,143,000. Finally, Motco boosted its stake in shares of ICON Public by 1.5% in the first quarter. Motco now owns 3,882 shares of the medical research company’s stock valued at $1,304,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 95.61% of the company’s stock.

ICON Public Price Performance

Shares of NASDAQ ICLR opened at $288.64 on Friday. The firm has a 50-day simple moving average of $303.72 and a 200-day simple moving average of $312.22. The stock has a market capitalization of $23.81 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36. ICON Public has a 52 week low of $222.32 and a 52 week high of $347.72.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, July 24th. The medical research company reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.96 earnings per share. On average, equities analysts predict that ICON Public will post 14.54 earnings per share for the current fiscal year.

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.