Icon (NASDAQ:ICLR) Price Target Cut to $120.00 by Analysts at Citigroup

Icon (NASDAQ:ICLR) had its target price cut by Citigroup from $200.00 to $120.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

A number of other equities research analysts have also recently weighed in on ICLR. Leerink Partners restated a “market perform” rating and issued a $105.00 price objective on shares of Icon in a report on Thursday, February 12th. Mizuho set a $216.00 target price on shares of Icon in a report on Friday, January 9th. Barclays dropped their price target on Icon from $200.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday. Robert W. Baird set a $119.00 price objective on Icon in a research report on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Icon in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Icon currently has a consensus rating of “Hold” and an average target price of $146.80.

Icon Stock Down 1.2%

Shares of Icon stock opened at $105.38 on Wednesday. Icon has a 1 year low of $66.57 and a 1 year high of $211.00. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.73 and a beta of 1.35. The company has a 50-day moving average of $147.59 and a 200 day moving average of $166.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06.

Institutional Investors Weigh In On Icon

Several institutional investors have recently modified their holdings of ICLR. Muhlenkamp & Co. Inc. purchased a new position in shares of Icon during the third quarter valued at approximately $12,857,000. Mitchell Capital Management Co. bought a new stake in Icon in the 3rd quarter worth approximately $1,627,000. First National Bank of Omaha purchased a new stake in Icon during the 3rd quarter valued at $6,267,000. Tributary Capital Management LLC lifted its holdings in shares of Icon by 84.5% during the 3rd quarter. Tributary Capital Management LLC now owns 11,752 shares of the medical research company’s stock valued at $2,057,000 after buying an additional 5,381 shares during the period. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of Icon by 15.7% during the 3rd quarter. Stephens Investment Management Group LLC now owns 480,104 shares of the medical research company’s stock valued at $84,018,000 after buying an additional 65,264 shares during the period. 95.61% of the stock is owned by hedge funds and other institutional investors.

Icon Company Profile

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.