Icon (NASDAQ:ICLR) Given New $160.00 Price Target at Barclays

Icon (NASDAQ:ICLR) had its price target hoisted by stock analysts at Barclays from $150.00 to $160.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price target points to a potential upside of 0.05% from the company’s previous close.

ICLR has been the topic of several other reports. BMO Capital Markets raised their target price on Icon from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Truist Financial upped their price target on Icon from $139.00 to $159.00 and gave the stock a “hold” rating in a report on Friday, May 29th. JPMorgan Chase & Co. lifted their price objective on shares of Icon from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Leerink Partners set a $145.00 target price on shares of Icon in a research report on Thursday, May 28th. Finally, Weiss Ratings downgraded shares of Icon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $153.31.

Icon Stock Up 12.1%

Shares of NASDAQ:ICLR traded up $17.25 during midday trading on Wednesday, hitting $159.92. 469,874 shares of the company’s stock traded hands, compared to its average volume of 1,511,983. The firm’s fifty day moving average price is $126.66 and its two-hundred day moving average price is $138.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.10 and a current ratio of 1.10. Icon has a twelve month low of $66.57 and a twelve month high of $211.00. The company has a market cap of $12.24 billion, a PE ratio of 26.06, a P/E/G ratio of 11.12 and a beta of 1.26.

Icon (NASDAQ:ICLR) last announced its quarterly earnings results on Tuesday, June 23rd. The medical research company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.07. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.98 billion. Icon had a return on equity of 9.50% and a net margin of 5.98%.The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.43 EPS. On average, equities research analysts anticipate that Icon will post 9.74 EPS for the current fiscal year.

Institutional Trading of Icon

A number of hedge funds and other institutional investors have recently made changes to their positions in ICLR. Geneos Wealth Management Inc. increased its holdings in shares of Icon by 11.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock worth $79,000 after acquiring an additional 56 shares during the period. Sanctuary Advisors LLC boosted its stake in Icon by 1.1% during the 4th quarter. Sanctuary Advisors LLC now owns 4,932 shares of the medical research company’s stock valued at $899,000 after purchasing an additional 56 shares during the period. Signaturefd LLC grew its position in Icon by 12.6% in the 4th quarter. Signaturefd LLC now owns 643 shares of the medical research company’s stock worth $117,000 after purchasing an additional 72 shares during the last quarter. New Wave Wealth Advisors LLC grew its position in Icon by 5.1% in the 4th quarter. New Wave Wealth Advisors LLC now owns 1,479 shares of the medical research company’s stock worth $270,000 after purchasing an additional 72 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Icon by 0.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,942 shares of the medical research company’s stock valued at $4,363,000 after purchasing an additional 93 shares during the period. 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.