ICON Public (NASDAQ:ICLR) Earns Outperform Rating from Royal Bank of Canada

ICON Public (NASDAQ:ICLR)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $263.00 price target on the medical research company’s stock. Royal Bank of Canada’s price target points to a potential upside of 29.93% from the stock’s previous close.

A number of other brokerages also recently weighed in on ICLR. The Goldman Sachs Group lowered their price target on ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a report 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. Barclays lowered their price target on ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Citigroup lowered their price objective on ICON Public from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ICON Public has a consensus rating of “Moderate Buy” and a consensus target price of $287.00.

ICON Public Stock Up 1.1 %

Shares of ICLR traded up $2.18 during trading on Wednesday, reaching $202.42. The company’s stock had a trading volume of 87,819 shares, compared to its average volume of 802,730. The company has a fifty day moving average of $211.31 and a two-hundred day moving average of $270.81. ICON Public has a twelve month low of $183.38 and a twelve month high of $347.72. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 22.57, 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.

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 analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company earned $3.10 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side analysts predict that ICON Public will post 13.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ICLR. EverSource Wealth Advisors LLC boosted its position in ICON Public by 39.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock worth $129,000 after acquiring an additional 111 shares during the period. Sara Bay Financial acquired a new position in ICON Public during the 3rd quarter worth $1,143,000. Whittier Trust Co. boosted its position in ICON Public by 12.3% during the 3rd quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock worth $1,155,000 after acquiring an additional 441 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of ICON Public by 23.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock valued at $147,000 after buying an additional 96 shares during the period. Finally, Arkadios Wealth Advisors lifted its holdings in shares of ICON Public by 5.0% in the third quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company’s stock valued at $371,000 after buying an additional 62 shares during the period. 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.