BMO Capital Markets Forecasts Strong Price Appreciation for Icon (NASDAQ:ICLR) Stock

Icon (NASDAQ:ICLR) had its price target upped by equities researchers at BMO Capital Markets from $130.00 to $160.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 16.96% from the stock’s previous close.

ICLR has been the topic of a number of other research reports. TD Cowen upgraded Icon from a “hold” rating to a “buy” rating and reduced their price target for the company from $183.00 to $120.00 in a research report on Wednesday, February 18th. Zacks Research lowered Icon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Robert W. Baird set a $119.00 price target on Icon in a research report on Friday, February 13th. Leerink Partners set a $145.00 price target on Icon in a research report on Thursday. Finally, Barclays reduced their price target on Icon from $200.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, March 9th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $151.20.

Icon Trading Up 15.5%

NASDAQ ICLR opened at $136.80 on Friday. The business’s 50-day moving average price is $112.28 and its two-hundred day moving average price is $141.50. Icon has a 12 month low of $66.57 and a 12 month high of $211.00. The firm has a market capitalization of $11.05 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 3.09 and a beta of 1.23. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31.

Icon (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, May 27th. The medical research company reported $2.52 EPS for the quarter, missing analysts’ consensus estimates of $2.95 by ($0.43). Icon had a net margin of 7.40% and a return on equity of 10.58%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm posted $3.43 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Icon has set its FY 2026 guidance at 10.000-11.000 EPS. On average, analysts expect that Icon will post 11.53 EPS for the current year.

Institutional Investors Weigh In On Icon

Several institutional investors and hedge funds have recently made changes to their positions in ICLR. WINTON GROUP Ltd bought a new stake in shares of Icon during the 2nd quarter valued at about $254,000. Daiwa Securities Group Inc. increased its stake in Icon by 19.3% in the second quarter. Daiwa Securities Group Inc. now owns 28,145 shares of the medical research company’s stock valued at $4,094,000 after purchasing an additional 4,546 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in Icon by 97.6% in the second quarter. Frontier Capital Management Co. LLC now owns 71,360 shares of the medical research company’s stock valued at $10,379,000 after purchasing an additional 35,253 shares in the last quarter. Peapack Gladstone Financial Corp bought a new stake in Icon in the second quarter valued at $212,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Icon by 58.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 781 shares of the medical research company’s stock valued at $113,000 after purchasing an additional 289 shares in the last quarter. Institutional investors own 95.61% of the company’s stock.

Icon Company Profile

Icon plc (NASDAQ: ICLR) is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon’s service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.