Truist Financial Reaffirms Buy Rating for ICON Public (NASDAQ:ICLR)

Truist Financial reissued their buy rating on shares of ICON Public (NASDAQ:ICLRFree Report) in a research report released on Wednesday morning,Benzinga reports. They currently have a $284.00 target price on the medical research company’s stock, down from their prior target price of $295.00.

ICLR has been the topic of a number of other research reports. Baird R W cut shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut 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. The Goldman Sachs Group lowered their price target on ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Redburn Atlantic initiated coverage on ICON Public in a research note on Monday, October 14th. They issued a “neutral” rating and a $311.00 price objective for the company. Finally, Robert W. Baird lowered their price target on shares of ICON Public from $249.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $289.10.

Read Our Latest Stock Analysis on ICLR

ICON Public Stock Performance

Shares of NASDAQ ICLR opened at $207.51 on Wednesday. The stock has a market cap of $17.12 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.57 and a beta of 1.21. The company has a 50 day simple moving average of $226.98 and a two-hundred day simple moving average of $283.77. ICON Public has a 12 month low of $183.38 and a 12 month high of $347.72. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35.

ICON Public (NASDAQ:ICLRGet Free Report) last announced its quarterly 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). The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. ICON Public had a return on equity of 11.91% and a net margin of 9.00%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the company posted $3.10 earnings per share. As a group, analysts predict that ICON Public will post 13.42 earnings per share for the current year.

Institutional Investors Weigh In On ICON Public

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arkadios Wealth Advisors lifted its stake in shares of ICON Public by 5.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company’s stock valued at $371,000 after purchasing an additional 62 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in ICON Public by 23.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock valued at $147,000 after purchasing an additional 96 shares during the last quarter. WR Wealth Planners LLC raised its position in ICON Public by 4.7% in the second quarter. WR Wealth Planners LLC now owns 2,359 shares of the medical research company’s stock valued at $739,000 after purchasing an additional 105 shares during the period. EverSource Wealth Advisors LLC lifted its stake in ICON Public by 39.2% during the second quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock worth $129,000 after purchasing an additional 111 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of ICON Public by 33.9% during the third quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company’s stock worth $172,000 after buying an additional 151 shares during the period. Institutional investors and hedge funds own 95.61% of the company’s stock.

About ICON Public

(Get Free Report)

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.

Further Reading

Analyst Recommendations for ICON Public (NASDAQ:ICLR)

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