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

Truist Financial reiterated their buy rating on shares of ICON Public (NASDAQ:ICLR - Free Report) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $284.00 target price on the medical research company's stock, down from their prior target price of $295.00.

Other research analysts have also issued reports about the stock. TD Cowen decreased their price target on shares of ICON Public from $369.00 to $285.00 and set a "buy" rating for the company in a research note on Friday, October 25th. Robert W. Baird decreased their target price on shares of ICON Public from $249.00 to $225.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. JPMorgan Chase & Co. cut their price target on ICON Public from $375.00 to $280.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Leerink Partners reiterated an "outperform" rating and set a $255.00 price objective (down previously from $270.00) on shares of ICON Public in a research note on Tuesday, November 19th. Finally, Barclays reduced their price target on ICON Public from $330.00 to $275.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $289.10.

ICON Public Trading Up 0.6 %

ICLR traded up $1.14 during midday trading on Wednesday, reaching $204.40. 1,441,956 shares of the company's stock traded hands, compared to its average volume of 760,061. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of 22.79, a P/E/G ratio of 1.57 and a beta of 1.21. ICON Public has a 52 week low of $183.38 and a 52 week high of $347.72. The firm has a fifty day moving average of $228.82 and a two-hundred day moving average of $284.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34.

ICON Public (NASDAQ:ICLR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing analysts' consensus estimates of $3.72 by ($0.37). ICON Public had a return on equity of 11.91% and a net margin of 9.00%. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the previous year, the business earned $3.10 EPS. The business's revenue was down 1.2% compared to the same quarter last year. On average, equities analysts anticipate that ICON Public will post 13.42 earnings per share for the current fiscal year.

Institutional Trading of ICON Public

Several large investors have recently modified their holdings of ICLR. Arkadios Wealth Advisors raised its position in ICON Public by 5.0% in the third quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company's stock worth $371,000 after acquiring an additional 62 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in ICON Public by 23.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company's stock worth $147,000 after buying an additional 96 shares in the last quarter. WR Wealth Planners LLC raised its holdings in ICON Public by 4.7% during the second quarter. WR Wealth Planners LLC now owns 2,359 shares of the medical research company's stock valued at $739,000 after acquiring an additional 105 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of ICON Public by 39.2% in the second quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company's stock valued at $129,000 after acquiring an additional 111 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in ICON Public by 33.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company's stock valued at $172,000 after purchasing an additional 151 shares during the period. Institutional investors 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.