The Goldman Sachs Group Cuts ICON Public (NASDAQ:ICLR) Price Target to $280.00

ICON Public (NASDAQ:ICLR) had its target price cut by The Goldman Sachs Group from $370.00 to $280.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

ICLR has been the topic of several other reports. Barclays lowered their target price on shares of ICON Public from $350.00 to $330.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Baird R W downgraded ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Leerink Partners reduced their price objective on ICON Public from $376.00 to $270.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com cut ICON Public from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Truist Financial decreased their price objective on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $310.45.

ICON Public Stock Performance

Shares of ICLR stock traded down $1.26 during midday trading on Friday, hitting $220.47. The company had a trading volume of 2,593,338 shares, compared to its average volume of 638,548. The stock has a market cap of $18.19 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.31. The company’s 50 day simple moving average is $297.75 and its 200 day simple moving average is $310.26. ICON Public has a 52-week low of $220.01 and a 52-week 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). The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.13 billion. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.10 earnings per share. Research analysts anticipate that ICON Public will post 14.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICON Public

A number of hedge funds and other institutional investors have recently made changes to their positions in ICLR. EverSource Wealth Advisors LLC lifted its position 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 buying an additional 42 shares during the period. Motco increased its stake in shares of ICON Public by 1.5% during the 1st quarter. Motco now owns 3,882 shares of the medical research company’s stock valued at $1,304,000 after acquiring an additional 59 shares during the last quarter. First National Bank of Hutchinson lifted its holdings in shares of ICON Public by 5.7% during the 1st quarter. First National Bank of Hutchinson now owns 1,135 shares of the medical research company’s stock worth $381,000 after acquiring an additional 61 shares during the period. Arkadios Wealth Advisors boosted its position in shares of ICON Public by 5.0% in the third quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company’s stock worth $371,000 after acquiring an additional 62 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in ICON Public by 50.0% during 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 during the last quarter. Hedge funds and other institutional investors 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.