Icon (NASDAQ:ICLR) Rating Lowered to “Hold” at Rothschild & Co Redburn

Icon (NASDAQ:ICLR) was downgraded by research analysts at Rothschild & Co Redburn from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

ICLR has been the subject of several other research reports. UBS Group set a $220.00 price objective on Icon in a report on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Icon in a research note on Monday, December 29th. Truist Financial restated a “hold” rating and set a $222.00 price target (down previously from $231.00) on shares of Icon in a research note on Thursday, January 8th. Barclays upped their price objective 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. Finally, Bank of America reiterated an “underperform” rating and issued a $75.00 target price on shares of Icon in a research note on Thursday, February 12th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $164.33.

Icon Stock Down 4.7%

Shares of Icon stock opened at $88.62 on Tuesday. 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 company has a market cap of $7.16 billion, a P/E ratio of 11.99, a PEG ratio of 1.96 and a beta of 1.27. The firm’s 50 day moving average price is $172.29 and its 200-day moving average price is $173.74. Icon has a 52-week low of $66.57 and a 52-week high of $211.00.

Institutional Trading of Icon

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC raised its holdings in shares of Icon by 1.1% during the fourth quarter. Sanctuary Advisors LLC now owns 4,932 shares of the medical research company’s stock worth $899,000 after purchasing an additional 56 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Icon by 11.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock worth $79,000 after purchasing an additional 56 shares during the period. Spire Wealth Management raised its stake in shares of Icon by 10.1% during the 3rd quarter. Spire Wealth Management now owns 678 shares of the medical research company’s stock valued at $119,000 after buying an additional 62 shares during the last quarter. New Wave Wealth Advisors LLC raised its stake in shares of Icon by 5.1% during the 4th quarter. New Wave Wealth Advisors LLC now owns 1,479 shares of the medical research company’s stock valued at $270,000 after buying an additional 72 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Icon by 12.6% in the 4th quarter. Signaturefd LLC now owns 643 shares of the medical research company’s stock valued at $117,000 after buying an additional 72 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

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.