ICON Public (NASDAQ:ICLR) Price Target Lowered to $208.00 at Truist Financial

ICON Public (NASDAQ:ICLR - Get Free Report) had its target price lowered by equities researchers at Truist Financial from $262.00 to $208.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the medical research company's stock. Truist Financial's price target would suggest a potential upside of 44.29% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Barclays lowered their price objective on ICON Public from $275.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $263.00 price target on shares of ICON Public in a report on Wednesday, January 15th. William Blair reissued an "outperform" rating on shares of ICON Public in a report on Tuesday, January 14th. Mizuho lowered their target price on shares of ICON Public from $238.00 to $200.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group cut shares of ICON Public from a "buy" rating to a "neutral" rating and cut their price target for the stock from $250.00 to $200.00 in a research note on Friday, March 21st. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $232.67.

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ICON Public Stock Performance

Shares of NASDAQ ICLR traded down $2.59 during mid-day trading on Thursday, hitting $144.15. The company had a trading volume of 448,638 shares, compared to its average volume of 892,415. The stock's 50-day moving average price is $178.63 and its 200-day moving average price is $209.35. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 1.86 and a beta of 1.24. The company has a current ratio of 1.26, a quick ratio of 1.34 and a debt-to-equity ratio of 0.36. ICON Public has a 1 year low of $138.51 and a 1 year high of $347.72.

ICON Public (NASDAQ:ICLR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.01. The firm had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $2.04 billion. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. On average, sell-side analysts forecast that ICON Public will post 13.38 earnings per share for the current year.

Institutional Investors Weigh In On ICON Public

Institutional investors and hedge funds have recently bought and sold shares of the business. Sierra Ocean LLC purchased a new stake in ICON Public in the fourth quarter worth $29,000. Park Place Capital Corp increased its position in shares of ICON Public by 281.4% during the fourth quarter. Park Place Capital Corp now owns 225 shares of the medical research company's stock valued at $47,000 after buying an additional 166 shares during the period. Private Trust Co. NA raised its stake in ICON Public by 48.8% in the fourth quarter. Private Trust Co. NA now owns 250 shares of the medical research company's stock worth $52,000 after buying an additional 82 shares in the last quarter. NBC Securities Inc. purchased a new stake in ICON Public in the first quarter worth about $59,000. Finally, GAMMA Investing LLC raised its holdings in ICON Public by 64.0% in the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company's stock worth $91,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other 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.