Icon Plc (NASDAQ:ICLR) Receives Average Rating of “Hold” from Brokerages

Shares of Icon Plc (NASDAQ:ICLR) have earned an average rating of “Hold” from the seventeen research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $148.80.

ICLR has been the topic of several recent analyst reports. Zacks Research lowered shares of Icon from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 25th. Jefferies Financial Group set a $135.00 price target on Icon and gave the company a “buy” rating in a research note on Monday, February 23rd. Rothschild & Co Redburn set a $100.00 price target on Icon and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Truist Financial reiterated a “hold” rating and set a $222.00 price target (down from $231.00) on shares of Icon in a research report on Thursday, January 8th. Finally, Barclays cut their price objective on Icon from $200.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, March 9th.

Icon Stock Down 1.0%

ICLR stock opened at $102.08 on Friday. The firm has a market cap of $8.24 billion, a PE ratio of 13.81, a P/E/G ratio of 2.61 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06. The firm’s fifty day moving average is $126.38 and its 200 day moving average is $160.20. Icon has a one year low of $66.57 and a one year high of $211.00.

Institutional Investors Weigh In On Icon

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Muhlenkamp & Co. Inc. purchased a new position in Icon in the 3rd quarter valued at about $12,857,000. Mitchell Capital Management Co. purchased a new stake in Icon during the 3rd quarter worth approximately $1,627,000. First National Bank of Omaha purchased a new stake in Icon during the 3rd quarter worth approximately $6,267,000. Tributary Capital Management LLC raised its holdings in shares of Icon by 84.5% during the third quarter. Tributary Capital Management LLC now owns 11,752 shares of the medical research company’s stock valued at $2,057,000 after acquiring an additional 5,381 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Icon during the third quarter valued at approximately $39,074,000. Hedge funds and other 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.