JPMorgan Chase & Co. Cuts ICON Public (NASDAQ:ICLR) Price Target to $280.00

ICON Public (NASDAQ:ICLR) had its price objective reduced by JPMorgan Chase & Co. from $375.00 to $280.00 in a research note published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical research company’s stock.

Other equities research analysts have also issued reports about the company. Baird R W lowered ICON Public from a “strong-buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group decreased their price target on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a report on Friday. Truist Financial reduced their target price on ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Barclays cut their price target on shares of ICON Public from $350.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Finally, Leerink Partners cut their price target on shares of ICON Public from $376.00 to $270.00 and set an “outperform” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ICON Public presently has a consensus rating of “Moderate Buy” and an average price target of $310.45.

ICON Public Stock Performance

Shares of ICON Public stock opened at $220.47 on Friday. The firm has a market capitalization of $18.19 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.35 and a beta of 1.22. The company’s 50 day moving average price is $297.75 and its two-hundred day moving average price is $310.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.31. ICON Public has a fifty-two week low of $220.01 and a fifty-two week high of $347.72.

ICON Public (NASDAQ:ICLR) last released its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned $3.10 EPS. ICON Public’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts forecast that ICON Public will post 14.53 earnings per share for the current fiscal year.

Institutional Trading of ICON Public

Institutional investors and hedge funds have recently modified their holdings of the company. Liontrust Investment Partners LLP increased its holdings in ICON Public by 19.5% in the 2nd quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock valued at $37,531,000 after acquiring an additional 19,546 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its position in 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 worth $30,016,000 after purchasing an additional 13,163 shares during the period. Whittier Trust Co. raised its position in ICON Public by 12.3% in the 3rd quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock worth $1,155,000 after purchasing an additional 441 shares during the period. Sara Bay Financial purchased a new stake in ICON Public in the 3rd quarter worth about $1,143,000. Finally, Motco raised its position in ICON Public by 1.5% in the 1st quarter. Motco now owns 3,882 shares of the medical research company’s stock worth $1,304,000 after purchasing an additional 59 shares during the period. 95.61% of the stock is currently owned by institutional investors.

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.