ICON Public (NASDAQ:ICLR) Downgraded by TD Cowen to “Hold”

TD Cowen downgraded shares of ICON Public (NASDAQ:ICLR) from a buy rating to a hold rating in a report published on Monday morning, Marketbeat Ratings reports. They currently have $157.00 target price on the medical research company’s stock, down from their prior target price of $254.00.

A number of other equities analysts also recently commented on the stock. Citigroup reduced their target price on shares of ICON Public from $290.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Barclays reiterated an “equal weight” rating and issued a $165.00 price objective (down from $240.00) on shares of ICON Public in a report on Thursday, April 10th. Mizuho cut their target price on ICON Public from $238.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Truist Financial decreased their price target on ICON Public from $262.00 to $208.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group downgraded ICON Public from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $200.00 in a research report on Friday, March 21st. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ICON Public presently has an average rating of “Moderate Buy” and a consensus target price of $232.67.

ICON Public Trading Up 1.9 %

Shares of ICLR stock opened at $146.74 on Monday. The stock’s fifty day moving average is $178.63 and its two-hundred day moving average is $209.35. 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 firm has a market capitalization of $11.85 billion, a P/E ratio of 15.40, a PEG ratio of 1.86 and a beta of 1.24. ICON Public has a fifty-two week low of $138.51 and a fifty-two week high of $347.72.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 EPS for the quarter, beating 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 company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. Research analysts expect that ICON Public will post 13.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of ICON Public by 15,701.6% in the 1st quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company’s stock valued at $119,730,000 after purchasing an additional 67,988 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its stake in ICON Public by 40.6% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 97,102 shares of the medical research company’s stock valued at $20,363,000 after buying an additional 28,050 shares in the last quarter. Natixis Advisors LLC lifted its holdings in ICON Public by 6.7% during the 4th quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company’s stock worth $37,279,000 after buying an additional 11,177 shares during the last quarter. Foyston Gordon & Payne Inc boosted its position in shares of ICON Public by 27.3% during the 4th quarter. Foyston Gordon & Payne Inc now owns 51,713 shares of the medical research company’s stock worth $10,845,000 after acquiring an additional 11,089 shares in the last quarter. Finally, Entropy Technologies LP increased its holdings in shares of ICON Public by 472.2% in the 4th quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company’s stock valued at $1,295,000 after acquiring an additional 5,095 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.