The Goldman Sachs Group Lowers ICON Public (NASDAQ:ICLR) Price Target to $160.00

ICON Public (NASDAQ:ICLR) had its target price decreased by analysts at The Goldman Sachs Group from $180.00 to $160.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 11.92% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. TD Cowen downgraded ICON Public from a “buy” rating to a “hold” rating and dropped their price target for the stock from $254.00 to $157.00 in a research report on Monday, April 14th. Barclays reaffirmed an “equal weight” rating and issued a $165.00 price target (down previously from $240.00) on shares of ICON Public in a research report on Thursday, April 10th. JPMorgan Chase & Co. lowered shares of ICON Public from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $265.00 to $150.00 in a report on Tuesday, April 29th. Truist Financial lowered their target price on ICON Public from $262.00 to $208.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, William Blair reiterated an “outperform” rating on shares of ICON Public in a report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ICON Public has a consensus rating of “Moderate Buy” and an average price target of $215.33.

ICON Public Trading Down 1.5 %

ICLR opened at $142.96 on Friday. ICON Public has a 12 month low of $133.28 and a 12 month high of $347.72. The company has a current ratio of 1.26, a quick ratio of 1.34 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $165.03 and a 200 day moving average of $195.45. The firm has a market cap of $11.55 billion, a P/E ratio of 15.00, a P/E/G ratio of 1.86 and a beta of 1.24.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, April 30th. The medical research company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.17 by $0.02. ICON Public had a net margin of 9.56% and a return on equity of 11.81%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $3.47 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts forecast that ICON Public will post 13.38 EPS for the current year.

Institutional Investors Weigh In On ICON Public

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sierra Ocean LLC acquired a new stake in ICON Public during the fourth quarter valued at $29,000. Park Place Capital Corp boosted its stake in shares of ICON Public by 281.4% during the 4th quarter. Park Place Capital Corp now owns 225 shares of the medical research company’s stock worth $47,000 after acquiring an additional 166 shares in the last quarter. Private Trust Co. NA grew its position in shares of ICON Public by 48.8% during the 4th quarter. Private Trust Co. NA now owns 250 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 82 shares during the period. NBC Securities Inc. purchased a new position in shares of ICON Public in the 1st quarter valued at about $59,000. Finally, GAMMA Investing LLC raised its holdings in ICON Public by 64.0% in the 4th quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after purchasing an additional 169 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.