Brokerages Set Icon Plc (NASDAQ:ICLR) Target Price at $156.44

Icon Plc (NASDAQ:ICLR) has been given a consensus rating of “Hold” by the eighteen brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $156.4375.

A number of research firms have recently commented on ICLR. Truist Financial lifted their target price on Icon from $139.00 to $159.00 and gave the stock a “hold” rating in a research report on Friday, May 29th. Piper Sandler cut Icon to a “neutral” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. lifted their target price on Icon from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Royal Bank Of Canada lifted their target price on Icon from $123.00 to $126.00 and gave the stock a “sector perform” rating in a research report on Friday, May 29th. Finally, Leerink Partners set a $145.00 target price on Icon in a research report on Thursday, May 28th.

Icon Stock Up 1.1%

Icon stock opened at $147.72 on Thursday. Icon has a 1-year low of $66.57 and a 1-year high of $211.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $11.31 billion, a PE ratio of 23.98, a P/E/G ratio of 11.55 and a beta of 1.26. The stock’s fifty day moving average is $122.43 and its two-hundred day moving average is $140.11.

Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, June 17th. The medical research company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.05. Icon had a return on equity of 9.50% and a net margin of 5.98%.The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the firm earned $3.43 earnings per share. Icon’s quarterly revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts expect that Icon will post 9.74 EPS for the current fiscal year.

Institutional Trading of Icon

A number of hedge funds and other institutional investors have recently made changes to their positions in ICLR. Muhlenkamp & Co. Inc. purchased a new stake in Icon in the 3rd quarter valued at approximately $12,857,000. Mitchell Capital Management Co. purchased a new stake in shares of Icon during the 3rd quarter worth approximately $1,627,000. First National Bank of Omaha purchased a new stake in shares of Icon during the 3rd quarter worth approximately $6,267,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Icon by 1.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,080,192 shares of the medical research company’s stock worth $203,800,000 after acquiring an additional 11,335 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Icon during the 3rd quarter worth approximately $39,074,000. Institutional investors and hedge funds 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.