Evercore ISI Lowers ICON Public (NASDAQ:ICLR) Price Target to $330.00

ICON Public (NASDAQ:ICLR) had its target price reduced by equities researchers at Evercore ISI from $350.00 to $330.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price target would indicate a potential upside of 6.87% from the stock’s current price.

A number of other analysts also recently commented on the company. Robert W. Baird upped their target price on ICON Public from $362.00 to $363.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays lifted their target price on shares of ICON Public from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Truist Financial increased their price target on shares of ICON Public from $357.00 to $367.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. TD Cowen lifted their price objective on shares of ICON Public from $343.00 to $349.00 and gave the company a “buy” rating in a report on Friday. Finally, Mizuho reissued a “buy” rating and set a $346.00 target price on shares of ICON Public in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, ICON Public has an average rating of “Moderate Buy” and a consensus price target of $321.64.

ICON Public Stock Performance

ICLR traded up $8.72 during trading on Friday, reaching $308.80. 404,015 shares of the company’s stock were exchanged, compared to its average volume of 562,555. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 1.21. ICON Public has a 1 year low of $181.92 and a 1 year high of $344.77. The company’s fifty day simple moving average is $318.31 and its 200-day simple moving average is $282.20. The stock has a market capitalization of $25.48 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 1.46 and a beta of 1.15.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, February 21st. The medical research company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.13. ICON Public had a net margin of 8.30% and a return on equity of 11.84%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.08 billion. As a group, research analysts predict that ICON Public will post 14.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bruce G. Allen Investments LLC acquired a new stake in ICON Public in the 4th quarter valued at about $25,000. Riverview Trust Co purchased a new position in shares of ICON Public during the 1st quarter worth $31,000. Livelsberger Financial Advisory acquired a new stake in shares of ICON Public during the fourth quarter valued at about $29,000. Pinnacle Bancorp Inc. raised its position in ICON Public by 110.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 105 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in shares of ICON Public in the 4th quarter valued at $37,000. 95.61% of the stock is owned by hedge funds and other institutional investors.

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.