ICON Public (NASDAQ:ICLR) Now Covered by Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of ICON Public (NASDAQ:ICLR) in a report released on Tuesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $263.00 price objective on the medical research company’s stock.

A number of other analysts have also issued reports on ICLR. Robert W. Baird lowered their target price on shares of ICON Public from $249.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price objective on shares of ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. TD Cowen decreased their price target on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Redburn Atlantic initiated coverage on ICON Public in a report on Monday, October 14th. They issued a “neutral” rating and a $311.00 price target for the company. Finally, Citigroup reduced their price objective on ICON Public from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $287.00.

ICON Public Price Performance

ICLR stock opened at $222.58 on Tuesday. The stock has a market cap of $18.36 billion, a PE ratio of 24.81, a P/E/G ratio of 1.54 and a beta of 1.20. ICON Public has a 12 month low of $183.38 and a 12 month high of $347.72. The company has a 50-day moving average price of $211.60 and a 200 day moving average price of $273.51. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35.

ICON Public (NASDAQ:ICLR) last announced 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 9.00% and a return on equity of 11.91%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm earned $3.10 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Equities research analysts anticipate that ICON Public will post 13.42 earnings per share for the current year.

Hedge Funds Weigh In On ICON Public

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of ICON Public in the 2nd quarter valued at about $54,000. EverSource Wealth Advisors LLC boosted its stake in ICON Public by 39.2% in the second quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock valued at $129,000 after acquiring an additional 111 shares in the last quarter. GAMMA Investing LLC grew its holdings in ICON Public by 64.0% in the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after purchasing an additional 169 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of ICON Public by 23.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock valued at $147,000 after purchasing an additional 96 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of ICON Public by 33.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company’s stock worth $172,000 after purchasing an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

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.