Icon (NASDAQ:ICLR) Price Target Raised to $140.00 at Citigroup

Icon (NASDAQ:ICLR) had its price target upped by Citigroup from $120.00 to $140.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the medical research company’s stock.

Several other research analysts have also recently weighed in on ICLR. Weiss Ratings cut Icon from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, March 18th. TD Cowen raised Icon from a “hold” rating to a “buy” rating and decreased their target price for the company from $183.00 to $120.00 in a research note on Wednesday, February 18th. Rothschild & Co Redburn set a $100.00 target price on Icon and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada raised their target price on Icon from $123.00 to $126.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, Truist Financial raised their target price on Icon from $139.00 to $159.00 and gave the company a “hold” rating in a research note on Friday. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Icon presently has a consensus rating of “Hold” and an average price target of $153.00.

Icon Trading Down 0.5%

NASDAQ:ICLR opened at $136.07 on Friday. Icon has a 1 year low of $66.57 and a 1 year high of $211.00. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 3.57 and a beta of 1.23. The business has a fifty day moving average of $113.06 and a 200-day moving average of $141.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06.

Icon (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, June 3rd. The medical research company reported $2.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.61). Icon had a return on equity of 10.58% and a net margin of 7.40%.The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the company posted $3.43 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts predict that Icon will post 11.53 earnings per share for the current year.

Institutional Investors Weigh In On Icon

Hedge funds have recently bought and sold shares of the business. Muhlenkamp & Co. Inc. purchased a new stake in Icon in the 3rd quarter worth about $12,857,000. Mitchell Capital Management Co. purchased a new stake in Icon in the 3rd quarter worth about $1,627,000. First National Bank of Omaha acquired a new position in Icon in the 3rd quarter worth about $6,267,000. Allspring Global Investments Holdings LLC increased its position in Icon by 1.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,080,192 shares of the medical research company’s stock worth $203,800,000 after purchasing an additional 11,335 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in Icon in the 3rd quarter worth about $39,074,000. 95.61% of the stock is owned by hedge funds and other institutional investors.

Icon News Summary

Here are the key news stories impacting Icon this week:

• Positive Sentiment: BMO Capital Markets raised its target on Icon Plc to $160 from $130 and kept an outperform rating, suggesting meaningful upside potential. Benzinga
• Positive Sentiment: Barclays lifted its price target to $150 from $120, with an equal weight rating, signaling improved expectations for the stock. Tickerreport.com
• Positive Sentiment: Citigroup increased its target to $140 from $120, implying modest upside from current levels, though it kept a neutral stance. Tickerreport.com
• Neutral Sentiment: JPMorgan raised its target to $130 from $120 but kept a neutral rating, reflecting a more cautious view than some peers. Benzinga
• Neutral Sentiment: Icon reported fourth-quarter earnings that missed estimates, but revenue came in above expectations and the company highlighted strong bookings despite ongoing revenue challenges. Yahoo Finance
• Negative Sentiment: Icon disclosed a material weakness in internal controls, which raises concerns about financial reporting quality and potential regulatory risk. TipRanks
• Negative Sentiment: The company also cut FY 2026 EPS guidance to $10.00-$11.00, below Wall Street expectations, which likely pressured the stock after earnings. Financial News

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.