ICON Public (NASDAQ:ICLR) Price Target Cut to $363.00

ICON Public (NASDAQ:ICLR) had its target price trimmed by Truist Financial from $383.00 to $363.00 in a report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

Other analysts also recently issued reports about the company. Robert W. Baird decreased their price objective on ICON Public from $368.00 to $340.00 and set an outperform rating for the company in a report on Friday, September 20th. Leerink Partnrs upgraded shares of ICON Public to a strong-buy rating in a report on Wednesday, September 18th. Evercore ISI dropped 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 note on Tuesday, October 8th. Redburn Atlantic started coverage on shares of ICON Public in a research note on Monday. They issued a neutral rating and a $311.00 price objective for the company. Finally, Barclays lowered their target price on ICON Public from $355.00 to $350.00 and set an overweight rating for the company in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $347.91.

ICON Public Price Performance

ICON Public stock opened at $296.55 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 stock has a market cap of $24.46 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The firm has a 50-day moving average of $304.99 and a two-hundred day moving average of $313.14. ICON Public has a 1 year low of $221.20 and a 1 year high of $347.72.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.14 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. ICON Public’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.96 earnings per share. On average, research analysts forecast that ICON Public will post 14.54 earnings per share for the current year.

Hedge Funds Weigh In On ICON Public

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in ICON Public by 22.5% during the first 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. Steph & Co. lifted its holdings in ICON Public by 11.2% during the first quarter. Steph & Co. now owns 1,852 shares of the medical research company’s stock valued at $622,000 after purchasing an additional 186 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of ICON Public in the first quarter valued at about $31,000. Arkadios Wealth Advisors purchased a new stake in shares of ICON Public during the first quarter worth about $247,000. Finally, Whittier Trust Co. raised its position in shares of ICON Public by 21.9% during the 1st quarter. Whittier Trust Co. now owns 3,295 shares of the medical research company’s stock worth $1,107,000 after purchasing an additional 593 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

ICON Public Company Profile

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.