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

Truist Financial restated their buy rating on shares of ICON Public (NASDAQ:ICLR) in a research report released on Wednesday morning, Benzinga reports. Truist Financial currently has a $383.00 price objective on the medical research company’s stock.

Several other research analysts have also weighed in on the company. TD Cowen increased their target price on ICON Public from $349.00 to $373.00 and gave the stock a buy rating in a research report on Friday, May 31st. William Blair reissued an outperform rating on shares of ICON Public in a research report on Friday, May 31st. The Goldman Sachs Group started coverage on ICON Public in a research report on Thursday, June 6th. They issued a buy rating and a $370.00 price objective on the stock. Barclays cut their price objective on ICON Public from $355.00 to $350.00 and set an overweight rating on the stock in a research report on Friday, July 26th. Finally, Robert W. Baird raised their price objective on ICON Public from $367.00 to $376.00 and gave the company an outperform rating in a research report on Monday, July 8th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ICON Public presently has an average rating of Buy and an average price target of $351.67.

ICON Public Trading Up 0.1 %

Shares of ICLR opened at $300.00 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $24.75 billion, a P/E ratio of 36.50, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The stock’s fifty day simple moving average is $319.98 and its 200 day simple moving average is $319.07. ICON Public has a twelve month low of $221.20 and a twelve month high of $347.72.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, July 24th. The medical research company reported $3.75 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.07. The business had revenue of $2.10 billion for 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%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $2.96 EPS. On average, equities research analysts forecast that ICON Public will post 14.54 earnings per share for the current year.

Institutional Trading of ICON Public

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of 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. EverSource Wealth Advisors LLC grew its stake in ICON Public by 17.4% in the first quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock worth $95,000 after purchasing an additional 42 shares in the last quarter. Motco grew its stake in ICON Public by 1.5% in the first quarter. Motco now owns 3,882 shares of the medical research company’s stock worth $1,304,000 after purchasing an additional 59 shares in the last quarter. First National Bank of Hutchinson grew its stake in ICON Public by 5.7% in the first quarter. First National Bank of Hutchinson now owns 1,135 shares of the medical research company’s stock worth $381,000 after purchasing an additional 61 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in ICON Public in the first quarter worth about $31,000. 95.61% of the stock is currently owned by institutional investors and hedge funds.

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.