ICON Public (NASDAQ:ICLR) Downgraded by Baird R W

Baird R W cut shares of ICON Public (NASDAQ:ICLR) from a strong-buy rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.

A number of other research firms also recently commented on ICLR. Evercore ISI dropped their price objective on ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Robert W. Baird downgraded shares of ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price target on the stock. in a research report on Thursday. Leerink Partnrs upgraded shares of ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Truist Financial cut their target price on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Leerink Partners initiated coverage on shares of ICON Public in a report on Wednesday, September 18th. They issued an “outperform” rating and a $379.00 price target for the company. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.45.

ICON Public Price Performance

ICON Public stock opened at $220.47 on Thursday. The business’s 50-day simple moving average is $297.75 and its 200 day simple moving average is $310.20. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36. The stock has a market cap of $18.19 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 1.35 and a beta of 1.22. ICON Public has a 12-month low of $220.01 and a 12-month high of $347.72.

ICON Public (NASDAQ:ICLR) last posted 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 return on equity of 12.06% and a net margin of 8.57%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm earned $3.10 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, research analysts anticipate that ICON Public will post 14.53 earnings per share for the current year.

Institutional Trading of ICON Public

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in ICON Public in the 2nd quarter valued at approximately $54,000. ORG Partners LLC bought a new position in shares of ICON Public during the 2nd quarter worth approximately $59,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of ICON Public by 410.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 189 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 152 shares during the last quarter. GAMMA Investing LLC lifted its position 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 purchasing an additional 87 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in 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 during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

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.