ICON Public (NASDAQ:ICLR) Price Target Increased to $349.00 by Analysts at TD Cowen

ICON Public (NASDAQ:ICLR) had its target price upped by TD Cowen from $343.00 to $349.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

A number of other analysts have also recently weighed in on ICLR. Truist Financial increased their price objective on ICON Public from $357.00 to $367.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Barclays increased their price objective on ICON Public from $325.00 to $355.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. Evercore ISI increased their price objective on ICON Public from $325.00 to $350.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. Robert W. Baird raised their price target on ICON Public from $362.00 to $363.00 and gave the company an outperform rating in a report on Friday. Finally, Mizuho reissued a buy rating and issued a $346.00 price target on shares of ICON Public in a report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, ICON Public currently has an average rating of Moderate Buy and an average target price of $321.64.

ICON Public Price Performance

ICLR opened at $308.31 on Friday. The stock’s 50-day moving average price is $318.89 and its 200 day moving average price is $282.81. ICON Public has a 12-month low of $181.92 and a 12-month high of $344.77. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.36. The firm has a market cap of $25.44 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 1.42 and a beta of 1.15.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, February 21st. The medical research company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.13. ICON Public had a return on equity of 11.70% and a net margin of 8.30%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.08 billion. As a group, sell-side analysts expect that ICON Public will post 14.4 earnings per share for the current year.

Hedge Funds Weigh In On ICON Public

Several hedge funds have recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its stake in ICON Public by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 695,932 shares of the medical research company’s stock valued at $196,998,000 after purchasing an additional 6,331 shares in the last quarter. State of Tennessee Treasury Department grew its position in shares of ICON Public by 4.9% in the fourth quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company’s stock valued at $44,101,000 after purchasing an additional 7,270 shares during the period. Liontrust Investment Partners LLP boosted its holdings in ICON Public by 108.4% in the third quarter. Liontrust Investment Partners LLP now owns 89,860 shares of the medical research company’s stock valued at $22,129,000 after acquiring an additional 46,739 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in ICON Public by 50.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 74,820 shares of the medical research company’s stock valued at $21,179,000 after acquiring an additional 25,160 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in ICON Public by 4.3% in the fourth quarter. Handelsbanken Fonder AB now owns 17,964 shares of the medical research company’s stock valued at $5,085,000 after acquiring an additional 734 shares during the last quarter. 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.