ICON Public (NASDAQ:ICLR) Coverage Initiated at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of ICON Public (NASDAQ:ICLR) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $263.00 price target on the medical research company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 19.91% from the stock’s current price.

ICLR has been the subject of a number of other reports. Evercore ISI reduced their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Barclays reduced their target price on ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Leerink Partners reissued an “outperform” rating and issued a $255.00 price target (down previously from $270.00) on shares of ICON Public in a research note on Tuesday, November 19th. Baird R W cut shares of ICON Public from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Leerink Partnrs raised shares of ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ICON Public has an average rating of “Moderate Buy” and an average target price of $287.00.

ICON Public Trading Down 1.5 %

NASDAQ:ICLR opened at $219.34 on Tuesday. ICON Public has a 12-month low of $183.38 and a 12-month high of $347.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34. The business has a 50 day simple moving average of $211.42 and a 200 day simple moving average of $273.13. The firm has a market capitalization of $18.09 billion, a P/E ratio of 24.45, a P/E/G ratio of 1.54 and a beta of 1.20.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.37). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.13 billion. ICON Public had a return on equity of 11.91% and a net margin of 9.00%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.10 EPS. Equities research analysts predict that ICON Public will post 13.42 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ICLR. Ashton Thomas Private Wealth LLC purchased a new stake in shares of ICON Public during the 2nd quarter worth about $54,000. GAMMA Investing LLC raised its position in ICON Public by 64.0% during 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake in ICON Public by 39.2% in the second quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock valued at $129,000 after acquiring an additional 111 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in ICON Public by 23.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock worth $147,000 after acquiring an additional 96 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of ICON Public by 33.9% during the 3rd 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. Hedge funds and other institutional investors own 95.61% of the company’s stock.

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.