Barclays Has Lowered Expectations for ICON Public (NASDAQ:ICLR) Stock Price

ICON Public (NASDAQ:ICLR) had its price objective cut by investment analysts at Barclays from $275.00 to $240.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Barclays‘s price target points to a potential upside of 19.17% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ICLR. JPMorgan Chase & Co. lowered their target price on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. TD Cowen lowered their target price on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Citigroup lowered their target price on shares of ICON Public from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Monday, January 6th. 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 Partners reissued an “outperform” rating and set a $255.00 target price (down previously from $270.00) on shares of ICON Public in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ICON Public has a consensus rating of “Moderate Buy” and a consensus target price of $281.00.

ICON Public Price Performance

ICON Public stock opened at $201.39 on Friday. ICON Public has a 12 month low of $181.51 and a 12 month high of $347.72. The company has a current ratio of 1.26, a quick ratio of 1.34 and a debt-to-equity ratio of 0.36. The business’s 50 day simple moving average is $202.90 and its 200 day simple moving average is $244.91. The company has a market cap of $16.61 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.86 and a beta of 1.19.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 EPS for the quarter, beating the consensus estimate of $3.41 by $0.01. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.04 billion. Sell-side analysts forecast that ICON Public will post 13.38 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its stake in ICON Public by 6.7% in the fourth quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company’s stock valued at $37,279,000 after acquiring an additional 11,177 shares during the last quarter. State of Tennessee Department of Treasury boosted its position in ICON Public by 1.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 158,947 shares of the medical research company’s stock valued at $33,333,000 after buying an additional 1,600 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in ICON Public by 40.6% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 97,102 shares of the medical research company’s stock valued at $20,363,000 after buying an additional 28,050 shares during the period. Motley Fool Wealth Management LLC boosted its position in ICON Public by 2.3% during the fourth quarter. Motley Fool Wealth Management LLC now owns 64,038 shares of the medical research company’s stock valued at $13,342,000 after buying an additional 1,466 shares during the period. Finally, Foyston Gordon & Payne Inc boosted its position in ICON Public by 27.3% during the fourth quarter. Foyston Gordon & Payne Inc now owns 51,713 shares of the medical research company’s stock valued at $10,845,000 after buying an additional 11,089 shares during the period. 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.