Truist Financial Cuts ICON Public (NASDAQ:ICLR) Price Target to $363.00

ICON Public (NASDAQ:ICLR) had its price target lowered by Truist Financial from $383.00 to $363.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Other analysts also recently issued research reports about the stock. Barclays reduced their price objective on shares of ICON Public from $355.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Evercore ISI reduced their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Leerink Partnrs upgraded shares of ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Redburn Atlantic assumed coverage on ICON Public in a research report on Monday. They set a “neutral” rating and a $311.00 target price on the stock. Finally, Leerink Partners started coverage on ICON Public in a research report on Wednesday, September 18th. They issued an “outperform” rating and a $379.00 target price for the company. Two analysts have 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 data from MarketBeat, ICON Public currently has a consensus rating of “Moderate Buy” and an average price target of $346.09.

ICON Public Stock Performance

Shares of ICLR stock opened at $293.60 on Monday. The company has a market cap of $24.22 billion, a P/E ratio of 35.72, a PEG ratio of 1.35 and a beta of 1.22. The firm has a fifty day moving average price of $304.38 and a 200 day moving average price of $312.72. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. ICON Public has a 12 month low of $221.20 and a 12 month high of $347.72.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the firm posted $2.96 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Sell-side analysts predict that ICON Public will post 14.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ICON Public

A number of large investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of ICON Public by 22.5% during the first quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock worth $58,000 after acquiring an additional 32 shares during the period. Steph & Co. boosted its holdings in ICON Public by 11.2% in the 1st quarter. Steph & Co. now owns 1,852 shares of the medical research company’s stock valued at $622,000 after purchasing an additional 186 shares in the last quarter. Riverview Trust Co acquired a new position in ICON Public during the 1st quarter worth approximately $31,000. Arkadios Wealth Advisors acquired a new stake in shares of ICON Public in the 1st quarter valued at approximately $247,000. Finally, Whittier Trust Co. boosted its stake in shares of ICON Public by 21.9% in the first quarter. Whittier Trust Co. now owns 3,295 shares of the medical research company’s stock valued at $1,107,000 after buying an additional 593 shares in 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.