ICON Public (NASDAQ:ICLR) Price Target Cut to $363.00 by Analysts at Truist Financial

ICON Public (NASDAQ:ICLR) had its target price cut by Truist Financial from $383.00 to $363.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Other equities research analysts also recently issued reports about the company. Leerink Partnrs raised ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. 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 note on Friday, July 26th. Redburn Atlantic assumed coverage on shares of ICON Public in a research report on Monday. They issued a “neutral” rating and a $311.00 target price on the stock. Leerink Partners assumed coverage on shares of ICON Public in a research report on Wednesday, September 18th. They issued an “outperform” rating and a $379.00 price target for the company. Finally, Evercore ISI lowered their price objective on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $346.09.

ICON Public Stock Performance

Shares of ICLR opened at $295.24 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.31. The firm’s 50 day moving average is $304.02 and its 200-day moving average is $312.59. ICON Public has a 12-month low of $221.20 and a 12-month high of $347.72. The stock has a market capitalization of $24.36 billion, a P/E ratio of 35.92, a P/E/G ratio of 1.35 and a beta of 1.22.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings results 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 net margin of 8.57% and a return on equity of 12.06%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the business posted $2.96 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that ICON Public will post 14.54 EPS for the current fiscal year.

Institutional Trading of ICON Public

Institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co bought a new position in ICON Public during the first quarter valued at about $31,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of ICON Public during the 2nd quarter valued at about $54,000. GAMMA Investing LLC raised its stake in shares of ICON Public by 22.5% in the 1st quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 32 shares in the last quarter. ORG Partners LLC acquired a new stake in ICON Public in the 2nd quarter worth approximately $59,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in ICON Public by 410.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 189 shares of the medical research company’s stock worth $63,000 after purchasing an additional 152 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

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.