Icon (NASDAQ:ICLR) Raised to Hold at Citigroup

Icon (NASDAQ:ICLR) was upgraded by investment analysts at Citigroup to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Mizuho increased their price objective on Icon from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, June 26th. Weiss Ratings downgraded Icon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Robert W. Baird set a $194.00 target price on Icon in a research report on Friday. BMO Capital Markets increased their price target on shares of Icon from $160.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. Finally, Truist Financial reissued a “buy” rating and set a $209.00 price target (up from $207.00) on shares of Icon in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Icon has an average rating of “Hold” and a consensus target price of $170.40.

Icon Stock Down 1.2%

NASDAQ:ICLR opened at $163.57 on Thursday. The company has a current ratio of 0.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.23. Icon has a twelve month low of $66.57 and a twelve month high of $203.91. The company has a market cap of $12.52 billion, a PE ratio of 38.40, a P/E/G ratio of 8.12 and a beta of 1.22. The company’s 50 day moving average is $156.70 and its two-hundred day moving average is $135.62.

Icon (NASDAQ:ICLR) last released its earnings results on Wednesday, July 29th. The medical research company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.01. Icon had a return on equity of 8.02% and a net margin of 3.99%.The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the firm earned $3.26 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Analysts anticipate that Icon will post 9.43 EPS for the current year.

Hedge Funds Weigh In On Icon

Institutional investors and hedge funds have recently modified their holdings of the stock. Toth Financial Advisory Corp acquired a new stake in Icon during the fourth quarter worth about $27,000. EFG International AG acquired a new position in Icon in the fourth quarter valued at approximately $27,000. Abound Financial LLC acquired a new position in Icon in the fourth quarter valued at approximately $54,000. GAMMA Investing LLC boosted its position in Icon by 21.4% in the 2nd quarter. GAMMA Investing LLC now owns 391 shares of the medical research company’s stock worth $68,000 after purchasing an additional 69 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Icon during the 3rd quarter worth approximately $71,000. Institutional investors and hedge funds own 95.61% of the company’s stock.

Trending Headlines about Icon

Here are the key news stories impacting Icon this week:

• Positive Sentiment: Truist reaffirmed its “Buy” rating and raised its price target to $209 from $207, implying substantial upside based on the referenced share price. The target increase signals continued confidence in Icon’s long-term growth prospects. Benzinga analyst rating report
• Positive Sentiment: Icon reported second-quarter revenue of approximately $2.06 billion, above the roughly $2.00 billion consensus estimate, with revenue growing 2.3% from the prior-year period. The earnings call also emphasized a strong surge in bookings, supporting future revenue visibility. Q2 2026 earnings call highlights
• Positive Sentiment: Zacks upgraded ICLR from “Strong Sell” to “Hold,” suggesting its view has improved even though the firm remains cautious. Zacks rating update
• Neutral Sentiment: Quarterly adjusted EPS was $2.56, narrowly above some consensus estimates of $2.55, although another Zacks estimate was $2.57. The mixed comparison makes the earnings beat less decisive for investors. Icon Q2 earnings snapshot
• Negative Sentiment: EPS fell sharply from $3.26 a year earlier, while the earnings call highlighted margin pressures. The weaker profitability, despite higher revenue and bookings, is likely the main factor tempering the bullish analyst commentary. ICON Q2 2026 earnings call transcript

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.