Icon (NASDAQ:ICLR) Raised to “Strong-Buy” at Baird R W

Icon (NASDAQ:ICLR) was upgraded by research analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on ICLR. Evercore ISI boosted their target price on shares of Icon from $170.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday. TD Cowen cut Icon from a “buy” rating to a “hold” rating and cut their price objective for the stock from $254.00 to $157.00 in a research report on Monday, April 14th. The Goldman Sachs Group decreased their target price on Icon from $180.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Truist Financial lifted their price target on Icon from $187.00 to $234.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Mizuho increased their price objective on Icon from $173.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.54.

Icon Stock Down 4.1%

ICLR opened at $187.01 on Thursday. The firm has a market cap of $15.10 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 2.94 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.27 and a current ratio of 1.29. The business has a 50 day moving average price of $144.57 and a 200 day moving average price of $164.18. Icon has a twelve month low of $125.10 and a twelve month high of $338.67.

Icon (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.08. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Icon had a net margin of 9.82% and a return on equity of 10.95%. Icon’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.75 earnings per share. Research analysts forecast that Icon will post 13.38 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Transcend Capital Advisors LLC raised its stake in Icon by 7.6% during the first quarter. Transcend Capital Advisors LLC now owns 1,174 shares of the medical research company’s stock worth $205,000 after acquiring an additional 83 shares in the last quarter. First National Bank Sioux Falls grew its holdings in shares of Icon by 5.7% in the 2nd quarter. First National Bank Sioux Falls now owns 1,580 shares of the medical research company’s stock worth $230,000 after purchasing an additional 85 shares during the last quarter. Hunter Perkins Capital Management LLC increased its position in shares of Icon by 0.4% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 22,399 shares of the medical research company’s stock worth $3,258,000 after purchasing an additional 97 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Icon by 22.8% during the 1st quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company’s stock worth $99,000 after purchasing an additional 110 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Icon by 44.0% during the 2nd quarter. Blue Trust Inc. now owns 393 shares of the medical research company’s stock valued at $57,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Icon Company Profile

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.