ICON Public Limited (NASDAQ:ICLR) Receives $351.60 Average PT from Analysts

ICON Public Limited (NASDAQ:ICLR) has received a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $351.60.

A number of equities analysts have recently commented on ICLR shares. StockNews.com downgraded shares of ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Leerink Partnrs raised shares of ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Robert W. Baird dropped their price target on shares of ICON Public from $368.00 to $340.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. The Goldman Sachs Group started coverage on shares of ICON Public in a research note on Thursday, June 6th. They set a “buy” rating and a $370.00 price target on the stock. Finally, Truist Financial reaffirmed a “buy” rating and set a $383.00 price target on shares of ICON Public in a research note on Wednesday, September 11th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC grew its holdings in ICON Public by 0.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 695,932 shares of the medical research company’s stock worth $196,998,000 after acquiring an additional 6,331 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in shares of ICON Public by 4.9% in the 4th quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company’s stock valued at $44,101,000 after buying an additional 7,270 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in shares of ICON Public by 15.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock valued at $30,016,000 after buying an additional 13,163 shares during the period. GAMMA Investing LLC boosted its holdings in shares of ICON Public by 50.0% in the 2nd quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock valued at $82,000 after buying an additional 87 shares during the period. Finally, Riverview Trust Co acquired a new position in shares of ICON Public in the 1st quarter valued at about $31,000. 95.61% of the stock is owned by institutional investors and hedge funds.

ICON Public Stock Performance

Shares of ICLR stock opened at $287.31 on Tuesday. The company’s fifty day simple moving average is $311.35 and its 200-day simple moving average is $316.00. ICON Public has a 52 week low of $221.20 and a 52 week high of $347.72. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. The company has a market cap of $23.70 billion, a PE ratio of 34.95, a P/E/G ratio of 1.32 and a beta of 1.22.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, July 24th. The medical research company reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the firm posted $2.96 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that ICON Public will post 14.54 EPS for the current year.

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.