Icon (NASDAQ:ICLR) Price Target Raised to $190.00 at Mizuho

Icon (NASDAQ:ICLR) had its price objective boosted by investment analysts at Mizuho from $180.00 to $190.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Mizuho’s target price suggests a potential upside of 18.04% from the stock’s current price.

Several other research analysts also recently commented on ICLR. Barclays lifted their target price on Icon from $160.00 to $175.00 and gave the stock an “equal weight” rating in a report on Thursday. Piper Sandler cut Icon to a “neutral” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. raised their price objective on Icon from $130.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday. Bank of America upped their target price on Icon from $125.00 to $150.00 and gave the company an “underperform” rating in a report on Thursday. Finally, Leerink Partners set a $145.00 target price on shares of Icon in a research report on Thursday, May 28th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $170.19.

Icon Trading Up 1.8%

Shares of NASDAQ ICLR opened at $160.96 on Friday. The firm has a 50 day moving average price of $128.57 and a two-hundred day moving average price of $138.05. The stock has a market cap of $12.32 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 11.25 and a beta of 1.26. Icon has a 52-week low of $66.57 and a 52-week high of $211.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.10 and a current ratio of 1.14.

Icon (NASDAQ:ICLR) last issued its quarterly earnings results on Tuesday, June 23rd. The medical research company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.07. Icon had a net margin of 5.35% and a return on equity of 8.73%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the business earned $3.43 earnings per share. Icon’s revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Icon will post 9.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC increased its holdings in Icon by 21.7% in the first quarter. Empowered Funds LLC now owns 2,609 shares of the medical research company’s stock worth $289,000 after purchasing an additional 466 shares in the last quarter. Militia Capital Management LLC acquired a new stake in shares of Icon during the 1st quarter worth approximately $2,523,000. NewEdge Advisors LLC grew its position in shares of Icon by 109.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,738 shares of the medical research company’s stock worth $303,000 after buying an additional 1,429 shares during the period. Arkadios Wealth Advisors increased its stake in shares of Icon by 87.6% in the 1st quarter. Arkadios Wealth Advisors now owns 29,843 shares of the medical research company’s stock valued at $3,302,000 after acquiring an additional 13,939 shares in the last quarter. Finally, Amundi increased its stake in shares of Icon by 88.6% in the 1st quarter. Amundi now owns 33,583 shares of the medical research company’s stock valued at $3,716,000 after acquiring an additional 15,773 shares in the last quarter. 95.61% of the stock is owned by institutional investors and hedge funds.

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.