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

Royal Bank of Canada assumed coverage on shares of ICON Public (NASDAQ:ICLR) in a research note published on Tuesday, MarketBeat.com reports. The firm issued an outperform rating and a $263.00 price target on the medical research company’s stock.

Other analysts have also recently issued research reports about the company. Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. StockNews.com downgraded shares of ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Robert W. Baird reduced their price objective 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. Evercore ISI lowered their target price on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Finally, Truist Financial reiterated a “buy” rating and issued a $284.00 price target (down previously from $295.00) on shares of ICON Public in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ICON Public has an average rating of “Moderate Buy” and an average price target of $287.00.

ICON Public Trading Up 3.3 %

ICON Public stock opened at $222.58 on Tuesday. ICON Public has a 52-week low of $183.38 and a 52-week high of $347.72. The company has a market cap of $18.36 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.54 and a beta of 1.20. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The business has a 50-day simple moving average of $211.60 and a two-hundred day simple moving average of $273.51.

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 the consensus estimate of $2.13 billion. During the same quarter last year, the firm posted $3.10 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Analysts predict that ICON Public will post 13.42 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Arkadios Wealth Advisors raised its stake in ICON Public by 5.0% during the third quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company’s stock valued at $371,000 after purchasing an additional 62 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of ICON Public by 23.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock worth $147,000 after buying an additional 96 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of ICON Public by 39.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock valued at $129,000 after buying an additional 111 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings 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 valued at $172,000 after acquiring an additional 151 shares during the last quarter. Finally, GAMMA Investing LLC grew its position 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 acquiring an additional 169 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors.

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.