Leerink Partners Reiterates Outperform Rating for ICON Public (NASDAQ:ICLR)

ICON Public (NASDAQ:ICLR)‘s stock had its “outperform” rating reissued by equities research analysts at Leerink Partners in a research report issued on Tuesday,Benzinga reports. They presently have a $255.00 price objective on the medical research company’s stock, down from their prior price objective of $270.00. Leerink Partners’ price objective indicates a potential upside of 34.38% from the stock’s current price.

ICLR has been the topic of a number of other research reports. Truist Financial dropped their price objective on shares of ICON Public from $363.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Barclays decreased their price target on ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group cut their price objective on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Redburn Atlantic began coverage on shares of ICON Public in a research report on Monday, October 14th. They issued a “neutral” rating and a $311.00 target price for the company. Finally, Leerink Partnrs raised shares of ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $302.91.

ICON Public Stock Up 1.4 %

Shares of ICLR stock traded up $2.54 during trading hours on Tuesday, hitting $189.76. 182,189 shares of the company were exchanged, compared to its average volume of 708,270. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $15.66 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 1.40 and a beta of 1.25. ICON Public has a one year low of $183.38 and a one year high of $347.72. The business’s 50-day simple moving average is $264.80 and its two-hundred day simple moving average is $300.52.

ICON Public (NASDAQ:ICLR) last issued its 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 return on equity of 11.91% and a net margin of 9.00%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company posted $3.10 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts predict that ICON Public will post 13.43 EPS for the current fiscal year.

Hedge Funds Weigh In On ICON Public

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new stake in shares of ICON Public in the second quarter valued at $54,000. ORG Partners LLC acquired a new stake in ICON Public in the 2nd quarter valued at about $59,000. GAMMA Investing LLC raised its stake in shares of ICON Public by 50.0% in the second quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock worth $82,000 after acquiring an additional 87 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of ICON Public by 17.4% during the first quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock worth $95,000 after purchasing an additional 42 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of ICON Public by 119.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the medical research company’s stock valued at $130,000 after purchasing an additional 226 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.