Icon (NASDAQ:ICLR) Given New $224.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird has raised its price target for Icon (NASDAQ:ICLR) from $222.00 to $224.00, suggesting a potential upside of 27.07% based on the company's previous close.
• Several analysts have increased their price objectives for Icon, with UBS raising it to $240.00 and Mizuho to $225.00, while the average target price is currently $218.38.
• Icon reported quarterly earnings of $3.26 per share, exceeding estimates, but its revenue declined 4.8% compared to the same quarter last year.

Icon (NASDAQ:ICLR - Get Free Report) had its price target lifted by analysts at Robert W. Baird from $222.00 to $224.00 in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has an "outperform" rating on the medical research company's stock. Robert W. Baird's price target would indicate a potential upside of 28.09% from the stock's current price.

Several other equities analysts have also recently issued reports on the company. Evercore ISI raised their price target on Icon from $170.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Baird R W upgraded Icon from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. UBS Group raised their price target on Icon from $170.00 to $240.00 and gave the company a "buy" rating in a report on Friday, July 25th. Truist Financial raised their target price on Icon from $187.00 to $234.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Barclays raised their target price on Icon from $155.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $219.64.

Icon Price Performance

Shares of ICLR stock traded down $1.48 during trading hours on Tuesday, hitting $174.88. 1,260,138 shares of the company's stock were exchanged, compared to its average volume of 921,298. The stock's 50-day moving average is $165.53 and its 200-day moving average is $158.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.61 and a beta of 1.20. Icon has a 52 week low of $125.10 and a 52 week high of $310.54.

Icon (NASDAQ:ICLR - Get Free Report) last announced its 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 company had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.98 billion. Icon had a return on equity of 10.95% and a net margin of 9.82%.The business's revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.75 earnings per share. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. As a group, research analysts forecast that Icon will post 13.38 EPS for the current year.

Institutional Investors Weigh In On Icon

Hedge funds have recently modified their holdings of the business. SVB Wealth LLC acquired a new stake in shares of Icon during the first quarter worth about $28,000. Ameritas Advisory Services LLC acquired a new stake in shares of Icon during the second quarter worth about $48,000. LRI Investments LLC acquired a new stake in shares of Icon during the second quarter worth about $49,000. NBC Securities Inc. acquired a new stake in shares of Icon during the first quarter worth about $59,000. Finally, Blue Trust Inc. raised its position in shares of Icon by 44.0% during the second quarter. Blue Trust Inc. now owns 393 shares of the medical research company's stock worth $57,000 after purchasing an additional 120 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.