Barclays Has Lowered Expectations for Icon (NASDAQ:ICLR) Stock Price

Key Points

• Barclays has lowered its price target for Icon (NASDAQ:ICLR) from $190.00 to $185.00, maintaining an "equal weight" rating, indicating a potential upside of 5.39% from its current price.
• Multiple analysts have revised their ratings on Icon, with Baird upgrading it to "strong buy" and Truist Financial raising its price target to $234.00.
• Icon reported earnings of $3.31 EPS for the last quarter, surpassing analyst expectations and recording revenue growth of 0.6% compared to the prior year.

Icon (NASDAQ:ICLR - Get Free Report) had its target price lowered by stock analysts at Barclays from $190.00 to $185.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the medical research company's stock. Barclays's price objective indicates a potential upside of 5.39% from the stock's current price.

A number of other analysts also recently issued reports on ICLR. Baird R W upgraded Icon from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Truist Financial lifted their target price on Icon from $187.00 to $234.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Leerink Partners set a $220.00 price target on Icon in a research note on Thursday. Mizuho raised their price target on Icon from $173.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Icon in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $206.07.

Icon Price Performance

ICLR traded down $4.46 during trading on Friday, reaching $175.54. 132,532 shares of the company traded hands, compared to its average volume of 1,243,769. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $14.18 billion, a P/E ratio of 23.85, a PEG ratio of 2.95 and a beta of 1.23. Icon has a 12-month low of $125.10 and a 12-month high of $234.60. The firm has a fifty day simple moving average of $178.66 and a 200 day simple moving average of $158.20.

Icon (NASDAQ:ICLR - Get Free Report) last posted its earnings results on Wednesday, October 22nd. The medical research company reported $3.31 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.03. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.98 billion. Icon had a return on equity of 10.53% and a net margin of 7.40%.The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.35 EPS. On average, equities analysts forecast that Icon will post 13.38 EPS for the current year.

Institutional Investors Weigh In On Icon

Institutional investors and hedge funds have recently modified their holdings of the company. Financiere des Professionnels Fonds d investissement inc. lifted its holdings in shares of Icon by 31.0% during the second quarter. Financiere des Professionnels Fonds d investissement inc. now owns 50,212 shares of the medical research company's stock worth $7,303,000 after purchasing an additional 11,894 shares during the period. Greenhaven Associates Inc. acquired a new stake in shares of Icon during the second quarter worth about $2,565,000. DAVENPORT & Co LLC acquired a new position in Icon in the second quarter valued at approximately $403,000. Allspring Global Investments Holdings LLC lifted its holdings in Icon by 18.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,060,499 shares of the medical research company's stock valued at $157,887,000 after acquiring an additional 162,853 shares during the period. Finally, Canoe Financial LP lifted its holdings in Icon by 10.3% in the second quarter. Canoe Financial LP now owns 193,851 shares of the medical research company's stock valued at $28,196,000 after acquiring an additional 18,174 shares during the period. Institutional investors and hedge funds own 95.61% of the company's stock.

Icon Company Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.

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