Robert W. Baird Cuts ICON Public (NASDAQ:ICLR) Price Target to $340.00

ICON Public (NASDAQ:ICLR) had its target price lowered by Robert W. Baird from $368.00 to $340.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the medical research company’s stock.

A number of other equities analysts have also commented on ICLR. Leerink Partners assumed coverage on ICON Public in a research note on Wednesday, September 18th. They set an outperform rating and a $379.00 price target for the company. Leerink Partnrs upgraded shares of ICON Public to a strong-buy rating in a research report on Wednesday, September 18th. The Goldman Sachs Group began coverage on shares of ICON Public in a report on Thursday, June 6th. They issued a buy rating and a $370.00 price target for the company. Truist Financial restated a buy rating and set a $383.00 price objective on shares of ICON Public in a research report on Wednesday, September 11th. Finally, Barclays cut their target price on ICON Public from $355.00 to $350.00 and set an overweight rating on the stock in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ICON Public currently has a consensus rating of Buy and a consensus target price of $351.60.

ICON Public Price Performance

NASDAQ:ICLR opened at $296.30 on Friday. The business’s 50-day simple moving average is $316.11 and its two-hundred day simple moving average is $317.64. ICON Public has a 52 week low of $221.20 and a 52 week high of $347.72. The stock has a market cap of $24.44 billion, a PE ratio of 36.05, a P/E/G ratio of 1.29 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 (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $3.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.07. The firm had revenue of $2.10 billion for 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 revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.96 earnings per share. As a group, analysts forecast that ICON Public will post 14.54 EPS for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Several hedge funds have recently modified their holdings of the business. Livelsberger Financial Advisory bought a new position in shares of ICON Public during the 4th quarter worth approximately $29,000. Riverview Trust Co purchased a new stake in ICON Public in the first quarter valued at about $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in ICON Public in the second quarter worth about $54,000. GAMMA Investing LLC grew its stake in shares of ICON Public by 22.5% during the first quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock worth $58,000 after acquiring an additional 32 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in shares of ICON Public during the second quarter valued at about $59,000. 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.