Icon’s (ICLR) Underperform Rating Reaffirmed at Bank of America

Icon (NASDAQ:ICLR)‘s stock had its “underperform” rating reaffirmed by stock analysts at Bank of America in a report issued on Thursday, Marketbeat reports. They currently have a $75.00 price target on the medical research company’s stock. Bank of America‘s price objective suggests a potential downside of 43.67% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Truist Financial reissued a “hold” rating and set a $222.00 price target (down previously from $231.00) on shares of Icon in a research report on Thursday, January 8th. Robert W. Baird set a $217.00 price objective on shares of Icon in a research note on Friday, January 9th. Leerink Partners reissued a “market perform” rating and issued a $105.00 target price on shares of Icon in a research report on Thursday. UBS Group set a $220.00 target price on shares of Icon in a research note on Friday, October 24th. Finally, BMO Capital Markets started coverage on Icon in a research note on Thursday, November 13th. They issued a “market perform” rating and a $175.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $184.93.

Icon Trading Down 7.9%

Shares of ICLR opened at $133.14 on Thursday. Icon has a one year low of $125.10 and a one year high of $211.00. The stock has a 50-day moving average price of $179.90 and a 200 day moving average price of $176.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $10.75 billion, a P/E ratio of 18.02, a P/E/G ratio of 3.03 and a beta of 1.27.

Institutional Investors Weigh In On Icon

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in Icon by 44.0% in the second quarter. Blue Trust Inc. now owns 393 shares of the medical research company’s stock valued at $57,000 after acquiring an additional 120 shares during the period. Aberdeen Group plc raised its position in shares of Icon by 5.6% during the 2nd quarter. Aberdeen Group plc now owns 59,211 shares of the medical research company’s stock worth $8,612,000 after purchasing an additional 3,165 shares during the period. TD Asset Management Inc lifted its holdings in shares of Icon by 2.7% in the 2nd quarter. TD Asset Management Inc now owns 22,511 shares of the medical research company’s stock worth $3,274,000 after purchasing an additional 583 shares during the last quarter. Mutual Advisors LLC boosted its position in Icon by 3.6% during the 2nd 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. Finally, Coho Partners Ltd. bought a new position in Icon during the 2nd quarter worth $33,649,000. Institutional investors and hedge funds own 95.61% of the company’s stock.

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.