Icon (NASDAQ:ICLR) Given “Sector Perform” Rating at Royal Bank Of Canada

Icon (NASDAQ:ICLR)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a report released on Monday,Benzinga reports. They presently have a $123.00 price objective on the medical research company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 3.17% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Rothschild & Co Redburn set a $100.00 price objective on shares of Icon and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Robert W. Baird set a $119.00 target price on shares of Icon in a research note on Friday, February 13th. Weiss Ratings downgraded shares of Icon from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, March 18th. Citigroup reduced their price target on shares of Icon from $200.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, March 11th. Finally, Bank of America reissued an “underperform” rating and set a $75.00 price objective on shares of Icon in a research note on Thursday, February 12th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Icon presently has a consensus rating of “Hold” and a consensus price target of $147.50.

Icon Stock Up 2.4%

Icon stock opened at $119.22 on Monday. The firm has a 50 day simple moving average of $109.72 and a 200 day simple moving average of $144.56. 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 has a 1-year low of $66.57 and a 1-year high of $211.00. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 3.04 and a beta of 1.23.

Institutional Trading of Icon

A number of institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in shares of Icon by 26.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock valued at $811,499,000 after purchasing an additional 975,268 shares during the period. Orbis Allan Gray Ltd boosted its stake in Icon by 1.8% in the 4th quarter. Orbis Allan Gray Ltd now owns 4,214,661 shares of the medical research company’s stock worth $767,996,000 after purchasing an additional 75,843 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Icon by 9.6% during the fourth quarter. Invesco Ltd. now owns 3,756,896 shares of the medical research company’s stock valued at $684,582,000 after buying an additional 329,266 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Icon by 10.3% during the 1st quarter. Principal Financial Group Inc. now owns 3,311,771 shares of the medical research company’s stock valued at $366,481,000 after purchasing an additional 310,236 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Icon by 8.7% in the 4th quarter. Franklin Resources Inc. now owns 2,993,336 shares of the medical research company’s stock worth $545,410,000 after buying an additional 239,808 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

About Icon

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.