Icon (NASDAQ:ICLR) Price Target Raised to $150.00 at Bank of America

Icon (NASDAQ:ICLR) had its target price raised by stock analysts at Bank of America from $125.00 to $150.00 in a report released on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the medical research company’s stock. Bank of America‘s price objective indicates a potential downside of 5.17% from the stock’s previous close.

A number of other research firms also recently weighed in on ICLR. Weiss Ratings downgraded Icon from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. Truist Financial raised their price target on Icon from $139.00 to $159.00 and gave the company a “hold” rating in a report on Friday, May 29th. BMO Capital Markets boosted their price objective on Icon from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. DA Davidson set a $164.00 target price on shares of Icon in a research report on Monday, June 1st. Finally, Leerink Partners set a $145.00 target price on shares of Icon in a research note on Thursday, May 28th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Icon currently has a consensus rating of “Hold” and an average target price of $164.94.

Icon Stock Performance

Shares of Icon stock opened at $158.17 on Thursday. 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 firm has a 50 day simple moving average of $127.61 and a 200 day simple moving average of $138.23. Icon has a fifty-two week low of $66.57 and a fifty-two week high of $211.00. The firm has a market cap of $12.11 billion, a P/E ratio of 28.14, a P/E/G ratio of 11.70 and a beta of 1.26.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Tuesday, June 23rd. The medical research company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.07. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.98 billion. Icon had a return on equity of 8.71% and a net margin of 5.35%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.43 EPS. Sell-side analysts predict that Icon will post 9.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Icon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ICLR. Toth Financial Advisory Corp bought a new position in Icon during the fourth quarter worth about $27,000. EFG International AG acquired a new stake in shares of Icon in the 4th quarter valued at approximately $27,000. Ameriflex Group Inc. acquired a new stake in shares of Icon in the 3rd quarter valued at approximately $33,000. Abound Financial LLC bought a new position in Icon during the 4th quarter worth approximately $54,000. Finally, Johnson Financial Group Inc. bought a new position in Icon during the 3rd quarter worth approximately $71,000. Institutional investors 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.