Icon (NASDAQ:ICLR) Price Target Raised to $234.00

Key Points

• Truist Financial raised its price target for Icon (NASDAQ:ICLR) from $187.00 to $234.00, suggesting a potential upside of 26.27% from the stock's previous close.
• Barclays and Mizuho have also revised their price targets for Icon, with Barclays setting it at $180.00 and Mizuho at $173.00.
• Icon's stock has experienced volatility, trading down by 5.0% to $185.31, with a market capitalization of nearly $15 billion.
• Despite recent challenges, Icon reported a quarterly EPS of $3.26, exceeding estimates, although their revenue declined year-over-year.

Icon (NASDAQ:ICLR - Get Free Report) had its price target raised by analysts at Truist Financial from $187.00 to $234.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the medical research company's stock. Truist Financial's price target points to a potential upside of 26.27% from the stock's previous close.

A number of other research firms have also recently commented on ICLR. Barclays boosted their price target on shares of Icon from $155.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Friday. Mizuho decreased their target price on shares of Icon from $200.00 to $173.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. The Goldman Sachs Group reduced their price objective on shares of Icon from $180.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Evercore ISI raised their target price on shares of Icon from $170.00 to $240.00 and gave the company an "outperform" rating in a report on Friday. Finally, Citigroup cut their target price on shares of Icon from $290.00 to $215.00 and set a "buy" rating for the company in a report on Monday, April 7th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Icon has a consensus rating of "Moderate Buy" and a consensus target price of $215.54.

Icon Trading Down 5.0%

ICLR stock traded down $9.70 during trading on Friday, reaching $185.31. 537,667 shares of the stock traded hands, compared to its average volume of 1,320,980. The business's 50 day moving average price is $143.46 and its 200-day moving average price is $164.43. Icon has a 52-week low of $125.10 and a 52-week high of $338.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market capitalization of $14.97 billion, a PE ratio of 19.08, a P/E/G ratio of 2.53 and a beta of 1.17.

Icon (NASDAQ:ICLR - Get Free Report) last posted 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 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 10.94%. The business's quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.75 earnings per share. As a group, sell-side analysts forecast that Icon will post 13.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. SVB Wealth LLC acquired a new position in Icon during the 1st quarter worth about $28,000. Ameritas Advisory Services LLC purchased a new stake in Icon during the second quarter valued at about $48,000. NBC Securities Inc. bought a new position in shares of Icon during the first quarter valued at about $59,000. Blue Trust Inc. grew its stake 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 valued at $57,000 after buying an additional 120 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Icon during the 1st quarter valued at $69,000. 95.61% of the stock is currently owned by institutional investors.

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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