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 report released on Wednesday morning, Benzinga reports. Truist Financial currently has a $383.00 target price on the medical research company’s stock.

A number of other research firms also recently issued reports on ICLR. TD Cowen increased their target price on shares of ICON Public from $349.00 to $373.00 and gave the stock a buy rating in a research report on Friday, May 31st. Robert W. Baird lifted 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. William Blair restated an outperform rating on shares of ICON Public in a research note on Friday, May 31st. The Goldman Sachs Group started coverage on ICON Public in a research note on Thursday, June 6th. They set a buy rating and a $370.00 price target for the company. Finally, Barclays dropped their price objective on ICON Public from $355.00 to $350.00 and set an overweight rating on the stock in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $351.67.

ICON Public Price Performance

ICLR opened at $300.00 on Wednesday. ICON Public has a 12-month low of $221.20 and a 12-month high of $347.72. The company has a quick ratio of 1.31, a current 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 PEG ratio of 1.29 and a beta of 1.22. The stock has a fifty day moving average of $319.98 and a 200-day moving average of $319.09.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $3.75 EPS for the quarter, topping 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%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $2.96 EPS. Equities analysts forecast that ICON Public will post 14.54 EPS for the current fiscal year.

Institutional Investors Weigh In On ICON Public

A number of large investors have recently added to or reduced their stakes in ICLR. GAMMA Investing LLC lifted its stake in shares of ICON Public by 22.5% in the first quarter. GAMMA Investing LLC now owns 174 shares of the medical research company’s stock worth $58,000 after buying an additional 32 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of ICON Public by 17.4% during the first quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock worth $95,000 after buying an additional 42 shares during the last quarter. Motco grew its stake in shares of 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 acquiring an additional 59 shares during the last quarter. First National Bank of Hutchinson grew its position in ICON Public by 5.7% in the 1st 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 during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of ICON Public during the first quarter valued at about $31,000. 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.