Truist Financial Cuts ICON Public (NASDAQ:ICLR) Price Target to $262.00

ICON Public (NASDAQ:ICLR) had its target price decreased by Truist Financial from $284.00 to $262.00 in a report published on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the medical research company’s stock.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Leerink Partners reaffirmed 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. Royal Bank of Canada reissued an “outperform” rating and issued a $263.00 target price on shares of ICON Public in a research note on Wednesday, January 15th. Citigroup cut their price target on ICON Public from $300.00 to $290.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, TD Cowen lowered their price objective on ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $283.92.

ICON Public Price Performance

Shares of ICON Public stock opened at $186.21 on Thursday. 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 has a 50 day simple moving average of $204.84 and a two-hundred day simple moving average of $249.28. The stock has a market capitalization of $15.36 billion, a P/E ratio of 20.76, a PEG ratio of 1.78 and a beta of 1.19. ICON Public has a 12 month low of $181.51 and a 12 month high of $347.72.

Institutional Trading of ICON Public

Several institutional investors have recently added to or reduced their stakes in the stock. Icon Wealth Advisors LLC grew its stake in shares of ICON Public by 861.1% in the third 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 in the last quarter. Foyston Gordon & Payne Inc purchased a new stake in ICON Public during the third quarter worth about $11,672,000. Tributary Capital Management LLC boosted its stake in shares of ICON Public by 116.1% in the fourth quarter. Tributary Capital Management LLC now owns 3,950 shares of the medical research company’s stock valued at $828,000 after purchasing an additional 2,122 shares during the period. GAMMA Investing LLC grew its holdings in shares of ICON Public by 64.0% in the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock valued at $91,000 after purchasing an additional 169 shares in the last quarter. Finally, Entropy Technologies LP increased its stake in ICON Public by 472.2% during the 4th quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company’s stock worth $1,295,000 after buying an additional 5,095 shares during the period. Institutional investors and hedge funds 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.