Brokerages Set Icon Plc (NASDAQ:ICLR) PT at $170.07

Icon Plc (NASDAQ:ICLR) has been given an average recommendation of “Hold” by the seventeen analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $170.0667.

A number of equities research analysts have recently issued reports on the stock. William Blair upgraded shares of Icon to a “strong-buy” rating in a research report on Thursday, July 30th. Robert W. Baird set a $194.00 price target on Icon in a report on Friday, July 31st. DA Davidson set a $164.00 price objective on Icon in a research note on Monday, June 1st. Zacks Research upgraded Icon from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Bank of America upped their target price on Icon from $125.00 to $150.00 and gave the company an “underperform” rating in a report on Thursday, June 25th.

Insiders Place Their Bets

In related news, Director Ronan Murphy sold 5,005 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $175.00, for a total value of $875,875.00. Following the sale, the director directly owned 3,847 shares of the company’s stock, valued at approximately $673,225. This represents a 56.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eugene Mccague sold 3,255 shares of Icon stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $175.00, for a total transaction of $569,625.00. Following the transaction, the director owned 3,811 shares of the company’s stock, valued at approximately $666,925. The trade was a 46.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 22,796 shares of company stock worth $3,887,139. 44.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ICLR. Polianta Ltd acquired a new position in shares of Icon in the second quarter valued at approximately $1,876,000. Legal & General Group Plc boosted its position in Icon by 7.7% during the fourth quarter. Legal & General Group Plc now owns 147,715 shares of the medical research company’s stock worth $26,917,000 after acquiring an additional 10,609 shares during the last quarter. Royal Bank of Canada grew its stake in Icon by 68.0% in the 1st quarter. Royal Bank of Canada now owns 153,728 shares of the medical research company’s stock worth $17,011,000 after acquiring an additional 62,225 shares during the period. Trinity Street Asset Management LLP grew its stake in Icon by 27.1% in the 2nd quarter. Trinity Street Asset Management LLP now owns 1,535,462 shares of the medical research company’s stock worth $266,725,000 after acquiring an additional 327,314 shares during the period. Finally, Maple Rock Capital Partners Inc. raised its holdings in Icon by 257.8% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,199,600 shares of the medical research company’s stock valued at $208,383,000 after acquiring an additional 864,300 shares during the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Icon Stock Down 1.9%

Icon stock opened at $163.90 on Friday. The stock’s 50 day moving average price is $167.08 and its 200 day moving average price is $141.61. Icon has a 1-year low of $66.57 and a 1-year high of $203.91. The company has a market cap of $12.55 billion, a PE ratio of 38.47, a price-to-earnings-growth ratio of 7.73 and a beta of 1.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95.

Icon (NASDAQ:ICLR) last issued its earnings results on Thursday, July 30th. The medical research company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.55 by $0.01. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2 billion. Icon had a net margin of 3.99% and a return on equity of 8.02%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.26 EPS. On average, sell-side analysts predict that Icon will post 9.56 EPS for the current fiscal year.

About Icon

ICON plc is a contract research and development organization that provides services to pharmaceutical, biotechnology, medical device and government clients. The company helps sponsors plan, manage and execute clinical development programs, supporting the progression of new medicines and healthcare products from early research through regulatory approval and commercialization.

Its services include clinical trial design and management, clinical data management, biostatistics, pharmacovigilance, regulatory consulting, medical affairs, laboratory services and real-world evidence.