Barclays Cuts Icon (NASDAQ:ICLR) Price Target to $185.00

Icon (NASDAQ:ICLR) had its price target reduced by Barclays from $190.00 to $185.00 in a research note published on Friday,Benzinga reports. Barclays currently has an equal weight rating on the medical research company’s stock.

Several other equities analysts have also issued reports on the stock. Jefferies Financial Group lowered shares of Icon from a “buy” rating to a “hold” rating and cut their price objective for the company from $220.00 to $175.00 in a report on Tuesday, September 9th. Evercore ISI lifted their price objective on shares of Icon from $170.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Rothschild & Co Redburn raised shares of Icon from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $184.00 to $236.00 in a report on Wednesday, September 3rd. Truist Financial lifted their price target on shares of Icon from $187.00 to $234.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Icon in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Icon has an average rating of “Moderate Buy” and an average target price of $207.14.

Icon Stock Performance

Shares of ICLR stock opened at $178.11 on Friday. The firm has a market cap of $14.38 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.73 and a beta of 1.23. The company’s 50 day moving average is $178.70 and its 200 day moving average is $158.58. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. Icon has a 52-week low of $125.10 and a 52-week high of $234.60.

Icon (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.03. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.98 billion. Icon had a net margin of 7.40% and a return on equity of 10.58%. Icon’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $3.35 earnings per share. On average, sell-side analysts anticipate that Icon will post 13.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Icon

A number of large investors have recently made changes to their positions in ICLR. Private Trust Co. NA grew its holdings in shares of Icon by 200.0% during the third quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock valued at $25,000 after buying an additional 94 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Icon during the first quarter valued at $28,000. Ameritas Advisory Services LLC purchased a new stake in shares of Icon during the second quarter valued at $48,000. LRI Investments LLC purchased a new stake in shares of Icon during the second quarter valued at $49,000. Finally, Blue Trust Inc. grew its holdings in shares of Icon by 44.0% during the second quarter. Blue Trust Inc. now owns 393 shares of the medical research company’s stock valued at $57,000 after buying an additional 120 shares during the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

About Icon

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.