Icon (NASDAQ:ICLR) Given “Buy” Rating at Truist Financial

Truist Financial restated their buy rating on shares of Icon (NASDAQ:ICLR) in a research report report published on Friday,Benzinga reports. Truist Financial currently has a $209.00 price target on the medical research company’s stock, up from their prior price target of $207.00.

ICLR has been the subject of a number of other research reports. Piper Sandler downgraded Icon to a “neutral” rating in a report on Thursday, May 28th. TD Cowen lifted their price target on shares of Icon from $164.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, June 25th. DA Davidson set a $164.00 price objective on shares of Icon in a research report on Monday, June 1st. Zacks Research upgraded shares of Icon from a “strong sell” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Icon from $130.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $170.40.

Icon Stock Down 1.2%

Shares of NASDAQ:ICLR opened at $163.57 on Friday. The stock’s 50-day moving average is $156.70 and its 200 day moving average is $135.62. The company has a market cap of $12.52 billion, a PE ratio of 38.40, a P/E/G ratio of 8.12 and a beta of 1.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 1.14. Icon has a 1 year low of $66.57 and a 1 year high of $203.91.

Icon (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, July 29th. The medical research company reported $2.56 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 8.02% and a net margin of 3.99%.The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $3.26 EPS. Sell-side analysts anticipate that Icon will post 9.43 EPS for the current year.

Hedge Funds Weigh In On Icon

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC bought a new position in shares of Icon during the fourth quarter valued at $123,542,000. Trinity Street Asset Management LLP boosted its position in shares of Icon by 23.1% during the fourth quarter. Trinity Street Asset Management LLP now owns 1,072,428 shares of the medical research company’s stock valued at $195,418,000 after buying an additional 201,455 shares during the last quarter. Calamos Advisors LLC bought a new stake in Icon in the 4th quarter worth about $4,829,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Icon in the 4th quarter worth about $2,960,000. Finally, Aberdeen Group plc raised its position in Icon by 1,667.3% in the 4th quarter. Aberdeen Group plc now owns 66,063 shares of the medical research company’s stock worth $12,038,000 after buying an additional 62,325 shares during the last quarter. Institutional investors own 95.61% of the company’s stock.

Trending Headlines about Icon

Here are the key news stories impacting Icon this week:

• Positive Sentiment: Truist reaffirmed its “Buy” rating and raised its price target to $209 from $207, implying substantial upside based on the referenced share price. The target increase signals continued confidence in Icon’s long-term growth prospects. Benzinga analyst rating report
• Positive Sentiment: Icon reported second-quarter revenue of approximately $2.06 billion, above the roughly $2.00 billion consensus estimate, with revenue growing 2.3% from the prior-year period. The earnings call also emphasized a strong surge in bookings, supporting future revenue visibility. Q2 2026 earnings call highlights
• Positive Sentiment: Zacks upgraded ICLR from “Strong Sell” to “Hold,” suggesting its view has improved even though the firm remains cautious. Zacks rating update
• Neutral Sentiment: Quarterly adjusted EPS was $2.56, narrowly above some consensus estimates of $2.55, although another Zacks estimate was $2.57. The mixed comparison makes the earnings beat less decisive for investors. Icon Q2 earnings snapshot
• Negative Sentiment: EPS fell sharply from $3.26 a year earlier, while the earnings call highlighted margin pressures. The weaker profitability, despite higher revenue and bookings, is likely the main factor tempering the bullish analyst commentary. ICON Q2 2026 earnings call transcript

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.