Icon (NASDAQ:ICLR) Rating Increased to Strong-Buy at Rothschild Redb

Key Points

• Icon (NASDAQ:ICLR) has been upgraded to a "strong-buy" rating by Rothschild Redb, reflecting growing confidence in the company's performance.
• UBS Group raised its target price for Icon shares from $170.00 to $240.00, while Robert W. Baird increased it slightly from $222.00 to $224.00, showcasing a positive outlook from multiple analysts.
• The company reported earnings of $3.26 per share in its last quarter, surpassing estimates, but experienced a 4.8% decline in revenue compared to the previous year.

Icon (NASDAQ:ICLR - Get Free Report) was upgraded by equities researchers at Rothschild Redb from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Barclays raised their target price on shares of Icon from $155.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Mizuho raised their target price on shares of Icon from $173.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Citigroup reissued a "neutral" rating and issued a $200.00 target price (down from $225.00) on shares of Icon in a research report on Thursday, August 21st. Baird R W upgraded shares of Icon from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Finally, UBS Group raised their price target on shares of Icon from $170.00 to $240.00 and gave the company a "buy" 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 seven have issued a Hold rating to the company. According to data from MarketBeat, Icon currently has an average rating of "Moderate Buy" and a consensus target price of $216.67.

Icon Trading Down 3.5%

Shares of ICLR traded down $6.29 during mid-day trading on Wednesday, hitting $171.53. The company had a trading volume of 598,904 shares, compared to its average volume of 1,283,463. The business's 50-day simple moving average is $166.18 and its 200-day simple moving average is $158.16. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.35. Icon has a 1-year low of $125.10 and a 1-year high of $310.54. The stock has a market cap of $13.85 billion, a PE ratio of 17.61, a P/E/G ratio of 2.59 and a beta of 1.20.

Icon (NASDAQ:ICLR - Get Free Report) last released its earnings results on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.08. Icon had a net margin of 9.82% and a return on equity of 10.95%. The business had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same period last year, the company earned $3.75 earnings per share. The company's quarterly revenue was down 4.8% on a year-over-year basis. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. Sell-side analysts forecast that Icon will post 13.38 earnings per share for the current year.

Institutional Trading of Icon

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SVB Wealth LLC bought a new stake in Icon during the first quarter valued at $28,000. Ameritas Advisory Services LLC bought a new stake in Icon during the second quarter valued at $48,000. LRI Investments LLC bought a new stake in Icon during the second quarter valued at $49,000. NBC Securities Inc. bought a new stake in Icon during the first quarter valued at $59,000. Finally, Blue Trust Inc. increased its stake in 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 purchasing an additional 120 shares during the last quarter. Institutional investors 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.