Icon (NASDAQ:ICLR) Stock Rating Lowered by Bank of America

Icon (NASDAQ:ICLR) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Monday, Marketbeat.com reports. They presently have a $195.00 price target on the medical research company’s stock. Bank of America‘s price target points to a potential upside of 6.88% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. TD Cowen dropped their price objective on Icon from $183.00 to $172.00 and set a “hold” rating for the company in a report on Friday, October 24th. Jefferies Financial Group lowered shares of Icon from a “buy” rating to a “hold” rating and lowered their target price for the company from $220.00 to $175.00 in a research note on Tuesday, September 9th. BMO Capital Markets began coverage on shares of Icon in a research note on Thursday, November 13th. They issued a “market perform” rating and a $175.00 price target on the stock. Barclays boosted their price objective on shares of Icon from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Leerink Partners set a $220.00 target price on shares of Icon in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Icon currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.31.

Icon Stock Down 1.0%

Shares of NASDAQ ICLR opened at $182.45 on Monday. Icon has a 1 year low of $125.10 and a 1 year high of $228.29. The firm has a 50-day simple moving average of $176.30 and a two-hundred day simple moving average of $167.68. The company has a market cap of $14.73 billion, a P/E ratio of 24.69, a PEG ratio of 3.37 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06.

Institutional Investors Weigh In On Icon

Institutional investors have recently bought and sold shares of the company. Private Trust Co. NA boosted its holdings in Icon by 200.0% during the third quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock worth $25,000 after buying an additional 94 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Icon in the first quarter worth about $28,000. Ameriflex Group Inc. purchased a new stake in shares of Icon during the 3rd quarter worth about $33,000. Ameritas Advisory Services LLC acquired a new stake in shares of Icon during the 2nd quarter valued at about $48,000. Finally, LRI Investments LLC acquired a new stake in shares of Icon during the 2nd quarter valued at about $49,000. 95.61% of the stock is currently 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.