ICON Public (NASDAQ:ICLR) Coverage Initiated by Analysts at Royal Bank of Canada

Research analysts at Royal Bank of Canada started coverage on shares of ICON Public (NASDAQ:ICLR) in a report released on Tuesday, MarketBeat reports. The brokerage set an “outperform” rating and a $263.00 price target on the medical research company’s stock. Royal Bank of Canada’s price target points to a potential upside of 22.04% from the company’s current price.

A number of other research firms have also commented on ICLR. Baird R W lowered shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Leerink Partnrs raised ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Leerink Partners reiterated an “outperform” rating and issued a $255.00 target price (down from $270.00) on shares of ICON Public in a research note on Tuesday, November 19th. Robert W. Baird cut their price target on ICON Public from $249.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Finally, Evercore ISI lowered their price objective on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.00.

ICON Public Stock Up 1.0 %

ICON Public stock opened at $215.51 on Tuesday. The stock has a 50-day simple moving average of $211.79 and a 200-day simple moving average of $274.18. The company has a market capitalization of $17.78 billion, a P/E ratio of 24.03, a PEG ratio of 1.54 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.34. ICON Public has a fifty-two week low of $183.38 and a fifty-two week high of $347.72.

ICON Public (NASDAQ:ICLR) last announced its 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). The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. ICON Public had a return on equity of 11.91% and a net margin of 9.00%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $3.10 earnings per share. Equities research analysts expect that ICON Public will post 13.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of ICON Public in the second quarter valued at approximately $54,000. EverSource Wealth Advisors LLC grew its holdings in ICON Public by 39.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock valued at $129,000 after buying an additional 111 shares during the last quarter. Sara Bay Financial purchased a new position in ICON Public during the third quarter worth $1,143,000. Whittier Trust Co. lifted its position in shares of ICON Public by 12.3% in the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock valued at $1,155,000 after acquiring an additional 441 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of ICON Public by 23.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock valued at $147,000 after acquiring an additional 96 shares during the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

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.