ICON Public’s (ICLR) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of ICON Public (NASDAQ:ICLR) in a research report report published on Wednesday,Benzinga reports. They currently have a $263.00 target price on the medical research company’s stock.

Other equities analysts have also recently issued reports about the stock. Barclays cut their target price on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. TD Cowen dropped their price objective on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. StockNews.com lowered ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Robert W. Baird cut their target price 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 decreased their price target on ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $287.00.

ICON Public Stock Performance

Shares of ICON Public stock opened at $199.47 on Wednesday. The firm has a market capitalization of $16.46 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.59 and a beta of 1.20. 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 52 week low of $183.38 and a 52 week high of $347.72. The firm’s 50 day moving average is $210.30 and its two-hundred day moving average is $269.51.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned $3.10 earnings per share. ICON Public’s revenue was down 1.2% on a year-over-year basis. Research analysts forecast that ICON Public will post 13.41 EPS for the current fiscal year.

Institutional Investors Weigh In On ICON Public

A number of institutional investors have recently modified their holdings of ICLR. Foyston Gordon & Payne Inc bought a new position in ICON Public during the third quarter worth $11,672,000. Icon Wealth Advisors LLC boosted its position in ICON Public by 861.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock valued at $3,797,000 after purchasing an additional 11,840 shares during the period. Whittier Trust Co. increased its position in ICON Public by 12.3% in the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock worth $1,155,000 after buying an additional 441 shares during the period. Sara Bay Financial bought a new stake in ICON Public in the third quarter valued at $1,143,000. Finally, Steph & Co. lifted its stake in ICON Public by 3.7% in the fourth quarter. Steph & Co. now owns 1,560 shares of the medical research company’s stock valued at $327,000 after buying an additional 55 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

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.