Truist Financial Lowers ICON Public (NASDAQ:ICLR) Price Target to $295.00

ICON Public (NASDAQ:ICLR) had its price objective dropped by equities researchers at Truist Financial from $363.00 to $295.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Truist Financial’s price objective suggests a potential upside of 26.94% from the stock’s current price.

Several other equities analysts have also commented on ICLR. JPMorgan Chase & Co. lowered their price target on shares of ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. TD Cowen decreased their target price on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Leerink Partnrs raised ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Barclays decreased their price objective on ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Evercore ISI cut their target price on ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ICON Public has a consensus rating of “Moderate Buy” and an average price target of $304.27.

ICON Public Stock Performance

Shares of NASDAQ ICLR opened at $232.40 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $294.03 and its two-hundred day moving average price is $309.09. ICON Public has a 52-week low of $220.01 and a 52-week high of $347.72. The stock has a market capitalization of $19.17 billion, a P/E ratio of 25.91, a P/E/G ratio of 1.35 and a beta of 1.22.

ICON Public (NASDAQ:ICLR) 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 the consensus estimate of $3.72 by ($0.37). The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.13 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business posted $3.10 EPS. As a group, sell-side analysts forecast that ICON Public will post 14.53 earnings per share for the current year.

Institutional Investors Weigh In On ICON Public

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new position in shares of ICON Public in the 2nd quarter worth approximately $54,000. ORG Partners LLC acquired a new position in ICON Public in the second quarter worth approximately $59,000. Whittier Trust Co. of Nevada Inc. increased its holdings 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 buying an additional 152 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ICON Public by 50.0% during the 2nd quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock valued at $82,000 after acquiring an additional 87 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of ICON Public by 17.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock valued at $95,000 after acquiring an additional 42 shares during the last quarter. 95.61% of the stock is currently owned by institutional investors.

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.