ICON Public (NASDAQ:ICLR) Earns Outperform Rating from Analysts at Leerink Partners

Leerink Partners initiated coverage on shares of ICON Public (NASDAQ:ICLR) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage issued an outperform rating and a $379.00 price target on the medical research company’s stock.

Other research analysts have also issued research reports about the stock. Robert W. Baird reiterated an outperform rating and issued a $368.00 price target on shares of ICON Public in a research note on Wednesday, September 11th. Barclays lowered their target price on ICON Public from $355.00 to $350.00 and set an overweight rating on the stock in a research note on Friday, July 26th. Truist Financial restated a buy rating and issued a $383.00 price target on shares of ICON Public in a research note on Wednesday, September 11th. TD Cowen increased their price objective on ICON Public from $349.00 to $373.00 and gave the stock a buy rating in a research report on Friday, May 31st. Finally, StockNews.com raised shares of ICON Public from a hold rating to a buy rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $351.60.

ICON Public Price Performance

Shares of NASDAQ ICLR opened at $303.07 on Wednesday. ICON Public has a twelve month low of $221.20 and a twelve month high of $347.72. The company has a market cap of $25.00 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The business’s 50 day moving average price is $317.00 and its two-hundred day moving average price is $318.08. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the business earned $2.96 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts predict that ICON Public will post 14.54 EPS for the current year.

Institutional Investors Weigh In On ICON Public

A number of large investors have recently modified their holdings of ICLR. CIBC Private Wealth Group LLC grew its holdings in shares of 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 valued at $196,998,000 after purchasing an additional 6,331 shares during the last quarter. State of Tennessee Treasury Department boosted its position in ICON Public by 4.9% during the 4th quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company’s stock worth $44,101,000 after buying an additional 7,270 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in ICON Public by 15.9% during 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 buying an additional 13,163 shares during the period. GAMMA Investing LLC increased its stake in shares of ICON Public by 50.0% in the second 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 bought a new position in shares of ICON Public during the first quarter worth about $31,000. Institutional investors and hedge funds 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.