ICON Public (NASDAQ:ICLR) Cut to “Hold” at Baird R W

ICON Public (NASDAQ:ICLR) was downgraded by research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

A number of other brokerages also recently issued reports on ICLR. Evercore ISI reduced their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Leerink Partnrs raised ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Leerink Partners started 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. Truist Financial reduced their price objective on ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, StockNews.com lowered shares of ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $346.09.

ICON Public Stock Down 21.0 %

ICLR stock opened at $221.73 on Thursday. The business’s 50-day moving average price is $299.79 and its 200-day moving average price is $310.96. The stock has a market cap of $18.29 billion, a P/E ratio of 26.97, a PEG ratio of 1.35 and a beta of 1.22. ICON Public has a twelve month low of $220.51 and a twelve month high of $347.72. 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 issued 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 return on equity of 12.06% and a net margin of 8.57%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company posted $3.10 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities research analysts forecast that ICON Public will post 14.54 EPS for the current year.

Hedge Funds Weigh In On ICON Public

A number of institutional investors have recently modified their holdings of the stock. Arkadios Wealth Advisors grew its stake in ICON Public by 5.0% in the third 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 in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of ICON Public by 23.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock worth $147,000 after buying an additional 96 shares in the last quarter. Whittier Trust Co. increased its stake in shares of ICON Public by 12.3% during the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock valued at $1,155,000 after buying an additional 441 shares during the period. Sara Bay Financial bought a new stake in shares of ICON Public in the third quarter valued at about $1,143,000. Finally, 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 worth $129,000 after acquiring an additional 111 shares during the period. 95.61% of the stock is owned by hedge funds and other institutional investors.

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.