ICON (NASDAQ:ICLR) Price Target Raised to $180.00 at Barclays

Key Points

• Barclays raised Icon's target price from $155.00 to $180.00, maintaining an "equal weight" rating, indicating a potential downside of 2.93% based on current stock price.
• Several analysts have varying target price adjustments, with quotes ranging from Citigroup's $215.00 to Evercore ISI's $240.00, showcasing mixed sentiment towards the stock.
• Icon traded down to $185.44 recently, with a market capitalization of approximately $15 billion and a P/E ratio of 19.09.
• Institutional investors and hedge funds hold 95.61% of Icon's stock, indicating a strong institutional backing of the company.

ICON (NASDAQ:ICLR - Free Report) had its target price upped by Barclays from $155.00 to $180.00 in a report issued on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the medical research company's stock.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group decreased their target price on shares of ICON from $180.00 to $160.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. TD Cowen downgraded shares of ICON from a "buy" rating to a "hold" rating and decreased their target price for the stock from $254.00 to $157.00 in a research note on Monday, April 14th. Truist Financial decreased their target price on shares of ICON from $262.00 to $208.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Evercore ISI lifted their target price on shares of ICON from $170.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, JPMorgan Chase & Co. downgraded shares of ICON from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $265.00 to $150.00 in a research note on Tuesday, April 29th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, ICON currently has a consensus rating of "Moderate Buy" and a consensus target price of $219.54.

ICON Price Performance

Shares of ICLR stock traded down $8.00 during trading hours on Friday, hitting $187.01. 1,598,447 shares of the company's stock were exchanged, compared to its average volume of 1,552,419. The company has a market capitalization of $15.10 billion, a PE ratio of 19.24, a PEG ratio of 2.82 and a beta of 1.17. ICON has a 12-month low of $125.10 and a 12-month high of $338.67. The business's 50 day simple moving average is $144.57 and its 200-day simple moving average is $163.80. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 0.35.

ICON (NASDAQ:ICLR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $3.26 EPS for the quarter, topping the consensus estimate of $3.18 by $0.08. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.98 billion. ICON had a net margin of 9.82% and a return on equity of 10.95%. The business's revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm posted $3.75 earnings per share. On average, equities research analysts anticipate that ICON will post 13.38 earnings per share for the current year.

Institutional Trading of ICON

A number of hedge funds have recently modified their holdings of ICLR. Allspring Global Investments Holdings LLC boosted its holdings in shares of ICON by 18.1% during the 2nd 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 buying an additional 162,853 shares in the last quarter. Ninety One UK Ltd boosted its stake in ICON by 2.6% in the 2nd quarter. Ninety One UK Ltd now owns 2,993,652 shares of the medical research company's stock worth $435,427,000 after purchasing an additional 75,465 shares in the last quarter. Ninety One North America Inc. boosted its stake in ICON by 20.5% in the 2nd quarter. Ninety One North America Inc. now owns 428,851 shares of the medical research company's stock worth $62,376,000 after purchasing an additional 72,945 shares in the last quarter. GAMMA Investing LLC boosted its stake in ICON by 15,701.6% in the 1st quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company's stock worth $119,730,000 after purchasing an additional 67,988 shares in the last quarter. Finally, Running Oak Capital LLC boosted its stake in ICON by 29.2% in the 2nd quarter. Running Oak Capital LLC now owns 107,218 shares of the medical research company's stock worth $15,595,000 after purchasing an additional 24,260 shares in the last quarter. Institutional investors own 95.61% of the company's stock.

About ICON

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.