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

Truist Financial reaffirmed their buy rating on shares of ICON Public (NASDAQ:ICLR) in a research note released on Wednesday,Benzinga reports. Truist Financial currently has a $284.00 price target on the medical research company’s stock, down from their previous price target of $295.00.

A number of other research firms also recently commented on ICLR. JPMorgan Chase & Co. reduced their price objective on shares of ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Redburn Atlantic initiated coverage on shares of ICON Public in a research note on Monday, October 14th. They issued a “neutral” rating and a $311.00 target price for the company. TD Cowen dropped their price target on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Evercore ISI dropped their target price on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Finally, Baird R W cut ICON Public from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $289.10.

ICON Public Stock Down 0.7 %

ICLR traded down $1.37 during trading on Wednesday, reaching $203.03. The company had a trading volume of 375,861 shares, compared to its average volume of 758,104. The company has a market cap of $16.75 billion, a P/E ratio of 22.63, a PEG ratio of 1.57 and a beta of 1.21. ICON Public has a 12 month low of $183.38 and a 12 month high of $347.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34. The business’s fifty day moving average price is $228.82 and its 200 day moving average price is $284.33.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 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 net margin of 9.00% and a return on equity of 11.91%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.10 earnings per share. Equities analysts anticipate that ICON Public will post 13.42 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ICLR. Foyston Gordon & Payne Inc bought a new stake in ICON Public during the 3rd quarter worth $11,672,000. Liontrust Investment Partners LLP grew its holdings in shares of ICON Public by 19.5% during the second quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock worth $37,531,000 after purchasing an additional 19,546 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its stake in shares of ICON Public by 15.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock valued at $30,016,000 after buying an additional 13,163 shares during the period. Icon Wealth Advisors LLC raised its holdings in ICON Public by 861.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock valued at $3,797,000 after buying an additional 11,840 shares during the last quarter. Finally, Sara Bay Financial acquired a new stake in ICON Public during the 3rd quarter worth approximately $1,143,000. Institutional investors 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.