Icon (NASDAQ:ICLR) Receives Buy Rating from Truist Financial

Icon (NASDAQ:ICLR)‘s stock had its “buy” rating reaffirmed by equities researchers at Truist Financial in a research note issued to investors on Friday,Benzinga reports. They presently have a $209.00 target price on the medical research company’s stock, up from their prior target price of $207.00. Truist Financial’s target price would indicate a potential upside of 26.26% from the stock’s current price.

Several other research analysts also recently weighed in on ICLR. Royal Bank Of Canada upgraded Icon from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $126.00 to $185.00 in a research note on Thursday, June 25th. Leerink Partners set a $145.00 price objective on Icon in a report on Thursday, May 28th. Piper Sandler cut shares of Icon to a “neutral” rating in a research note on Thursday, May 28th. Weiss Ratings lowered Icon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Finally, Robert W. Baird increased their price target on Icon from $168.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $168.87.

Icon Trading Down 7.1%

Icon stock opened at $165.53 on Friday. The stock has a market capitalization of $12.67 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 8.75 and a beta of 1.22. Icon has a one year low of $66.57 and a one year high of $203.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14. The business’s fifty day moving average is $155.77 and its 200 day moving average is $135.43.

Icon (NASDAQ:ICLR) last announced its earnings results on Wednesday, July 29th. The medical research company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.01. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2 billion. Icon had a net margin of 3.99% and a return on equity of 8.04%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.26 earnings per share. On average, sell-side analysts predict that Icon will post 9.43 EPS for the current year.

Hedge Funds Weigh In On Icon

A number of hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its position in shares of Icon by 11.5% in the second quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock valued at $79,000 after acquiring an additional 56 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Icon by 1.1% during the 4th quarter. Sanctuary Advisors LLC now owns 4,932 shares of the medical research company’s stock worth $899,000 after purchasing an additional 56 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Icon by 21.4% in the second quarter. GAMMA Investing LLC now owns 391 shares of the medical research company’s stock valued at $68,000 after purchasing an additional 69 shares during the last quarter. Signaturefd LLC lifted its position in Icon by 12.6% during the fourth quarter. Signaturefd LLC now owns 643 shares of the medical research company’s stock worth $117,000 after buying an additional 72 shares in the last quarter. Finally, New Wave Wealth Advisors LLC lifted its position in Icon by 5.1% during the fourth quarter. New Wave Wealth Advisors LLC now owns 1,479 shares of the medical research company’s stock worth $270,000 after buying an additional 72 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors.

Icon Company Profile

Icon plc (NASDAQ: ICLR) is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon’s service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.