Analysts Set Icon Plc (NASDAQ:ICLR) Price Target at $207.14

Shares of Icon Plc (NASDAQ:ICLR) have been assigned an average rating of “Moderate Buy” from the twenty analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $207.1429.

A number of equities research analysts have recently weighed in on the company. Robert W. Baird set a $220.00 price objective on Icon in a research report on Friday, October 24th. Jefferies Financial Group cut shares of Icon from a “buy” rating to a “hold” rating and cut their price target for the company from $220.00 to $175.00 in a report on Tuesday, September 9th. Truist Financial boosted their price objective on shares of Icon from $187.00 to $234.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Rothschild Redb raised shares of Icon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, TD Cowen cut their target price on shares of Icon from $183.00 to $172.00 and set a “hold” rating on the stock in a research note on Friday, October 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Financiere des Professionnels Fonds d investissement inc. boosted its holdings in shares of Icon by 31.0% during the 2nd quarter. Financiere des Professionnels Fonds d investissement inc. now owns 50,212 shares of the medical research company’s stock valued at $7,303,000 after buying an additional 11,894 shares in the last quarter. Greenhaven Associates Inc. purchased a new position in Icon during the 2nd quarter valued at about $2,565,000. DAVENPORT & Co LLC bought a new stake in Icon during the second quarter worth about $403,000. Allspring Global Investments Holdings LLC grew its holdings in Icon by 18.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,060,499 shares of the medical research company’s stock worth $157,887,000 after purchasing an additional 162,853 shares during the period. Finally, Canoe Financial LP increased its stake in shares of Icon by 10.3% during the second quarter. Canoe Financial LP now owns 193,851 shares of the medical research company’s stock valued at $28,196,000 after purchasing an additional 18,174 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Price Performance

ICLR stock opened at $171.82 on Wednesday. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 3.04 and a beta of 1.23. The firm’s 50-day moving average price is $178.16 and its two-hundred day moving average price is $159.38. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31. Icon has a 12-month low of $125.10 and a 12-month high of $231.89.

Icon (NASDAQ:ICLR) last posted its earnings results on Wednesday, October 22nd. The medical research company reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.03. Icon had a return on equity of 10.58% and a net margin of 7.40%.The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $3.35 earnings per share. Icon’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that Icon will post 13.38 earnings per share for the current year.

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.