Icon Plc (NASDAQ:ICLR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Icon Plc (NASDAQ:ICLR) have received a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are presently covering the firm, MarketBeat reports. Twelve investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $203.8125.

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Icon from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Barclays lifted their price objective on Icon from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Monday, December 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Icon in a report on Monday, December 29th. Robert W. Baird set a $217.00 price target on Icon in a research note on Friday. Finally, BMO Capital Markets initiated coverage on shares of Icon in a research report on Thursday, November 13th. They set a “market perform” rating and a $175.00 price target for the company.

Institutional Trading of Icon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. raised its position in Icon by 11.5% in the second 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. Spire Wealth Management raised its holdings in Icon by 10.1% in the 3rd quarter. Spire Wealth Management now owns 678 shares of the medical research company’s stock worth $119,000 after purchasing an additional 62 shares during the period. Mutual Advisors LLC lifted its position in Icon by 3.6% during the second quarter. Mutual Advisors LLC now owns 2,698 shares of the medical research company’s stock valued at $392,000 after purchasing an additional 93 shares in the last quarter. Private Trust Co. NA grew 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 valued at $25,000 after purchasing an additional 94 shares during the period. Finally, Hunter Perkins Capital Management LLC grew its holdings in Icon by 0.4% during the second quarter. Hunter Perkins Capital Management LLC now owns 22,399 shares of the medical research company’s stock valued at $3,258,000 after purchasing an additional 97 shares during the period. 95.61% of the stock is owned by hedge funds and other institutional investors.

Icon Stock Down 3.6%

ICLR opened at $181.38 on Monday. The stock has a market capitalization of $14.65 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 3.82 and a beta of 1.26. The firm has a 50 day moving average price of $177.26 and a 200-day moving average price of $173.11. Icon has a twelve month low of $125.10 and a twelve month high of $220.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31.

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.