ICON Public (NASDAQ:ICLR) Price Target Cut to $295.00 by Analysts at Truist Financial

ICON Public (NASDAQ:ICLR) had its target price cut by Truist Financial from $363.00 to $295.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other research firms also recently commented on ICLR. JPMorgan Chase & Co. dropped their price objective on ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, October 25th. TD Cowen cut their price objective on ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Redburn Atlantic began coverage on shares of ICON Public in a research report on Monday, October 14th. They set a “neutral” rating and a $311.00 price target on the stock. Finally, Barclays dropped their price objective on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $304.27.

ICON Public Stock Performance

Shares of NASDAQ ICLR opened at $222.11 on Monday. The company has a 50-day simple moving average of $292.12 and a 200-day simple moving average of $308.52. 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 company has a market cap of $18.32 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. ICON Public has a 12 month low of $220.01 and a 12 month high of $347.72.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $3.10 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. On average, equities analysts anticipate that ICON Public will post 14.53 earnings per share for the current year.

Institutional Investors Weigh In On ICON Public

Hedge funds have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of ICON Public during the 2nd quarter valued at approximately $54,000. ORG Partners LLC acquired a new stake in ICON Public in the second quarter valued at $59,000. Whittier Trust Co. of Nevada Inc. boosted its stake in ICON Public by 410.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 189 shares of the medical research company’s stock valued at $63,000 after acquiring an additional 152 shares during the last quarter. GAMMA Investing LLC grew its holdings in ICON Public by 50.0% during the 2nd quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock worth $82,000 after acquiring an additional 87 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of ICON Public by 17.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock worth $95,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds 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.