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

ICON Public (NASDAQ:ICLR) had its price objective reduced by investment analysts at Barclays from $275.00 to $240.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective suggests a potential upside of 18.91% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Robert W. Baird reduced their price objective on shares of ICON Public from $249.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Citigroup reduced their price objective on shares of ICON Public from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Monday, January 6th. TD Cowen reduced their price objective on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, William Blair restated an “outperform” rating on shares of ICON Public in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $281.00.

ICON Public Price Performance

ICLR opened at $201.84 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. ICON Public has a 12 month low of $181.51 and a 12 month high of $347.72. The company has a fifty day simple moving average of $203.04 and a 200 day simple moving average of $246.13. The stock has a market cap of $16.65 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.76 and a beta of 1.19.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.01. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.04 billion. ICON Public had a net margin of 9.56% and a return on equity of 11.79%. On average, research analysts expect that ICON Public will post 13.38 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new position in ICON Public in the fourth quarter valued at about $29,000. Park Place Capital Corp increased its holdings in ICON Public by 281.4% during the 4th 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 increased its holdings in ICON Public by 48.8% during the 4th 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 during the period. GAMMA Investing LLC increased its holdings in 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 acquiring an additional 169 shares during the period. Finally, Horizon Investments LLC increased its holdings in shares of ICON Public by 534.0% in the 4th quarter. Horizon Investments LLC now owns 653 shares of the medical research company’s stock worth $137,000 after buying an additional 550 shares during the last quarter. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

ICON Public Company Profile

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.