Citigroup Lowers ICON Public (NASDAQ:ICLR) Price Target to $290.00

ICON Public (NASDAQ:ICLR) had its price objective cut by investment analysts at Citigroup from $300.00 to $290.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Citigroup’s price target indicates a potential upside of 34.56% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Redburn Atlantic began coverage on ICON Public in a report on Monday, October 14th. They set a “neutral” rating and a $311.00 target price for the company. Robert W. Baird dropped their price objective on shares of ICON Public from $249.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Barclays reduced their target price on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. The Goldman Sachs Group cut their price objective on ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their target price on ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ICON Public presently has a consensus rating of “Moderate Buy” and an average target price of $289.18.

ICON Public Trading Up 1.0 %

ICON Public stock traded up $2.23 during mid-day trading on Monday, hitting $215.51. The company’s stock had a trading volume of 531,518 shares, compared to its average volume of 509,749. The stock’s fifty day moving average is $212.09 and its two-hundred day moving average is $274.89. ICON Public has a 1 year low of $183.38 and a 1 year high of $347.72. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $17.78 billion, a PE ratio of 24.03, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm posted $3.10 earnings per share. ICON Public’s revenue was down 1.2% on a year-over-year basis. On average, analysts anticipate that ICON Public will post 13.42 EPS for the current year.

Institutional Trading of ICON Public

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased 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 worth $91,000 after buying an additional 169 shares during the period. Foyston Gordon & Payne Inc purchased a new position in shares of ICON Public during the third quarter worth approximately $11,672,000. Icon Wealth Advisors LLC increased its holdings in shares of ICON Public by 861.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock valued at $3,797,000 after acquiring an additional 11,840 shares during the period. First Horizon Advisors Inc. raised its position in ICON Public by 33.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company’s stock valued at $172,000 after purchasing an additional 151 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in ICON Public by 5.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company’s stock worth $371,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds 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.