Icon (NASDAQ:ICLR) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Icon (NASDAQ:ICLR) from a market perform rating to an outperform rating in a report released on Thursday, MarketBeat reports. The firm currently has $130.00 target price on the medical research company’s stock, up from their previous target price of $100.00.

Several other research firms have also weighed in on ICLR. Mizuho set a $216.00 target price on Icon in a report on Friday, January 9th. TD Cowen upgraded Icon from a “hold” rating to a “buy” rating and decreased their price target for the stock from $183.00 to $120.00 in a research note on Wednesday, February 18th. Leerink Partners reissued a “market perform” rating and set a $105.00 price objective on shares of Icon in a report on Thursday, February 12th. Truist Financial reaffirmed a “hold” rating and set a $222.00 target price (down from $231.00) on shares of Icon in a research report on Thursday, January 8th. Finally, Jefferies Financial Group set a $135.00 price target on Icon and gave the company a “buy” rating in a report on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $148.80.

Icon Price Performance

NASDAQ ICLR opened at $102.08 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $8.24 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Icon has a 12-month low of $66.57 and a 12-month high of $211.00. The company has a 50 day moving average price of $126.38 and a two-hundred day moving average price of $160.13.

Institutional Trading of Icon

A number of hedge funds have recently bought and sold shares of ICLR. Muhlenkamp & Co. Inc. bought a new stake in shares of Icon during the third quarter valued at approximately $12,857,000. Mitchell Capital Management Co. bought a new position in Icon in the third quarter worth $1,627,000. First National Bank of Omaha acquired a new stake in Icon during the third quarter worth $6,267,000. Tributary Capital Management LLC boosted its stake in Icon by 84.5% during the third quarter. Tributary Capital Management LLC now owns 11,752 shares of the medical research company’s stock worth $2,057,000 after buying an additional 5,381 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Icon in the 3rd quarter valued at $39,074,000. 95.61% of the stock is owned by institutional investors.

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.