Weiss Ratings Reiterates Hold (C) Rating for Icon (NASDAQ:ICLR)

Icon (NASDAQ:ICLR - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other brokerages have also commented on ICLR. Evercore ISI boosted their price objective on shares of Icon from $170.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Rothschild Redb raised shares of Icon from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Truist Financial upped their price target on shares of Icon from $187.00 to $234.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Baird R W raised shares of Icon from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Finally, UBS Group upped their price target on shares of Icon from $170.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Icon currently has an average rating of "Moderate Buy" and an average target price of $217.33.

Icon Stock Performance

Shares of ICLR opened at $186.48 on Wednesday. The firm's 50 day moving average price is $173.85 and its two-hundred day moving average price is $156.97. 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 firm has a market cap of $15.06 billion, a P/E ratio of 19.19, a PEG ratio of 2.77 and a beta of 1.23. Icon has a twelve month low of $125.10 and a twelve month high of $303.69.

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

Hedge Funds Weigh In On Icon

A number of hedge funds have recently modified their holdings of the stock. Artisan Partners Limited Partnership increased its stake in shares of Icon by 67.4% in the second quarter. Artisan Partners Limited Partnership now owns 7,184,870 shares of the medical research company's stock worth $1,045,039,000 after acquiring an additional 2,893,946 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Icon by 21.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,752,008 shares of the medical research company's stock worth $545,730,000 after acquiring an additional 650,379 shares during the last quarter. Invesco Ltd. increased its stake in shares of Icon by 3.3% in the second quarter. Invesco Ltd. now owns 3,085,993 shares of the medical research company's stock worth $448,858,000 after acquiring an additional 98,032 shares during the last quarter. Ninety One UK Ltd boosted its holdings in Icon by 2.6% in the second 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. Finally, Ruane Cunniff & Goldfarb L.P. boosted its holdings in Icon by 36.2% in the second quarter. Ruane Cunniff & Goldfarb L.P. now owns 1,708,183 shares of the medical research company's stock worth $248,455,000 after purchasing an additional 453,833 shares in the last quarter. 95.61% of the stock is owned by institutional investors and hedge funds.

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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