Icon Plc (NASDAQ:ICLR) Receives $203.81 Average PT from Brokerages

Shares of Icon Plc (NASDAQ:ICLR) have been given an average recommendation of “Moderate Buy” by the twenty brokerages that are presently covering the firm, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $199.8667.

ICLR has been the subject of a number of recent analyst reports. Zacks Research raised Icon from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Truist Financial reiterated a “hold” rating and set a $222.00 price target (down from $231.00) on shares of Icon in a research report on Thursday, January 8th. Bank of America downgraded shares of Icon from a “buy” rating to a “neutral” rating and set a $195.00 price target on the stock. in a research note on Monday, December 15th. UBS Group set a $220.00 price objective on shares of Icon in a research report on Friday, October 24th. Finally, Barclays lifted their target price on shares of Icon from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Monday, December 15th.

Hedge Funds Weigh In On Icon

Hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its position in Icon by 11.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock valued at $79,000 after acquiring an additional 56 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Icon by 10.1% in the third quarter. Spire Wealth Management now owns 678 shares of the medical research company’s stock valued at $119,000 after purchasing an additional 62 shares during the period. Mutual Advisors LLC boosted its stake in shares of Icon by 3.6% in the second quarter. Mutual Advisors LLC now owns 2,698 shares of the medical research company’s stock valued at $392,000 after purchasing an additional 93 shares during the period. Private Trust Co. NA grew its holdings in shares of Icon by 200.0% in the third quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 94 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC increased its stake in 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 buying an additional 97 shares during the period. Institutional investors and hedge funds own 95.61% of the company’s stock.

Icon Price Performance

ICLR stock opened at $182.61 on Monday. Icon has a 52-week low of $125.10 and a 52-week high of $211.00. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. The stock has a market cap of $14.75 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 3.84 and a beta of 1.26. The business has a fifty day moving average of $179.24 and a two-hundred day moving average of $174.35.

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.