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

ICON Public (NASDAQ:ICLR) had its target price lowered by equities research analysts at Truist Financial from $383.00 to $363.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Truist Financial’s target price would indicate a potential upside of 23.11% from the company’s previous close.

ICLR has been the subject of a number of other reports. 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 raised shares of ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Redburn Atlantic initiated coverage on shares of ICON Public in a research note on Monday. They issued a “neutral” rating and a $311.00 price target on the stock. StockNews.com lowered ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Barclays lowered their target price on ICON Public from $355.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $346.09.

ICON Public Stock Down 0.6 %

Shares of NASDAQ:ICLR opened at $294.87 on Monday. ICON Public has a 52 week low of $221.20 and a 52 week high of $347.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $24.33 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The firm has a 50 day simple moving average of $304.63 and a 200 day simple moving average of $312.85.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, July 24th. The medical research company reported $3.75 EPS for the quarter, topping the consensus estimate of $3.68 by $0.07. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. ICON Public’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.96 earnings per share. As a group, research analysts expect that ICON Public will post 14.54 earnings per share for the current year.

Institutional Investors Weigh In On ICON Public

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