Citigroup Lowers ICON Public (NASDAQ:ICLR) Price Target to $215.00

ICON Public (NASDAQ:ICLR) had its target price lowered by Citigroup from $290.00 to $215.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Citigroup’s price objective would suggest a potential upside of 42.32% from the stock’s current price.

A number of other analysts have also recently commented on ICLR. Royal Bank of Canada reiterated an “outperform” rating and issued a $263.00 target price on shares of ICON Public in a research note on Wednesday, January 15th. William Blair reaffirmed an “outperform” rating on shares of ICON Public in a report on Tuesday, January 14th. The Goldman Sachs Group downgraded shares of ICON Public from a “buy” rating to a “neutral” rating and cut their price target for the stock from $250.00 to $200.00 in a report on Friday, March 21st. Robert W. Baird decreased their price objective on shares of ICON Public from $221.00 to $203.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Barclays cut their price objective on shares of ICON Public from $275.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $259.00.

ICON Public Stock Down 1.7 %

ICLR traded down $2.65 on Monday, hitting $151.07. The company had a trading volume of 348,952 shares, compared to its average volume of 864,882. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.86 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.34 and a current ratio of 1.26. The stock has a fifty day moving average price of $186.79 and a 200-day moving average price of $216.96. ICON Public has a 12-month low of $149.23 and a 12-month high of $347.72.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.01. ICON Public had a net margin of 9.56% and a return on equity of 11.81%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.04 billion. Analysts predict that ICON Public will post 13.38 EPS for the current fiscal year.

Hedge Funds Weigh In On ICON Public

Hedge funds have recently bought and sold shares of the business. Sierra Ocean LLC purchased a new position in shares of ICON Public during the 4th quarter valued at approximately $29,000. Park Place Capital Corp lifted its position in shares of ICON Public by 281.4% in the fourth quarter. Park Place Capital Corp now owns 225 shares of the medical research company’s stock valued at $47,000 after acquiring an additional 166 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of ICON Public by 48.8% in the fourth quarter. Private Trust Co. NA now owns 250 shares of the medical research company’s stock worth $52,000 after acquiring an additional 82 shares during the last quarter. GAMMA Investing LLC raised its stake in ICON Public by 64.0% in the 4th quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock valued at $91,000 after purchasing an additional 169 shares during the last quarter. Finally, Horizon Investments LLC raised its stake in ICON Public by 534.0% in the 4th quarter. Horizon Investments LLC now owns 653 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 550 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.