BMO Capital Markets Forecasts Strong Price Appreciation for Icon (NASDAQ:ICLR) Stock

Icon (NASDAQ:ICLR) had its target price upped by BMO Capital Markets from $130.00 to $160.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 16.96% from the company’s current price.

Several other brokerages have also issued reports on ICLR. Zacks Research lowered Icon from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $126.00 price target on shares of Icon in a research note on Friday. Barclays decreased their price target on Icon from $200.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, March 9th. JPMorgan Chase & Co. decreased their price target on Icon from $175.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Finally, Piper Sandler lowered Icon to a “neutral” rating in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $151.20.

Icon Price Performance

Shares of NASDAQ ICLR opened at $136.80 on Friday. Icon has a fifty-two week low of $66.57 and a fifty-two week high of $211.00. The business has a fifty day moving average price of $112.28 and a two-hundred day moving average price of $141.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $11.05 billion, a PE ratio of 22.21, a P/E/G ratio of 3.09 and a beta of 1.23.

Icon (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, May 27th. The medical research company reported $2.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.95 by ($0.43). Icon had a net margin of 7.40% and a return on equity of 10.58%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the business posted $3.43 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Icon has set its FY 2026 guidance at 10.000-11.000 EPS. As a group, equities analysts predict that Icon will post 11.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Icon

A number of hedge funds and other institutional investors have recently bought and sold shares of ICLR. WINTON GROUP Ltd bought a new stake in Icon during the 2nd quarter worth $254,000. Daiwa Securities Group Inc. grew its position in Icon by 19.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 28,145 shares of the medical research company’s stock worth $4,094,000 after acquiring an additional 4,546 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in Icon by 97.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 71,360 shares of the medical research company’s stock worth $10,379,000 after acquiring an additional 35,253 shares during the last quarter. Peapack Gladstone Financial Corp bought a new stake in Icon during the 2nd quarter worth $212,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Icon by 58.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 781 shares of the medical research company’s stock worth $113,000 after purchasing an additional 289 shares during the period. Institutional investors own 95.61% of the company’s stock.

About Icon

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.