Bank of America Boosts Icon (NASDAQ:ICLR) Price Target to $150.00

Icon (NASDAQ:ICLR) had its price target boosted by Bank of America from $125.00 to $150.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the medical research company’s stock. Bank of America‘s price target would suggest a potential downside of 5.17% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Icon from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, May 29th. UBS Group set a $160.00 target price on shares of Icon in a report on Wednesday. Barclays set a $175.00 price target on shares of Icon in a research note on Thursday. Weiss Ratings cut shares of Icon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Finally, BMO Capital Markets increased their price objective on shares of Icon from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $164.94.

Icon Stock Performance

Shares of Icon stock opened at $158.17 on Thursday. The stock’s fifty day simple moving average is $127.61 and its 200 day simple moving average is $138.23. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $12.11 billion, a PE ratio of 28.14, a PEG ratio of 11.70 and a beta of 1.26. Icon has a 12 month low of $66.57 and a 12 month high of $211.00.

Icon (NASDAQ:ICLR) last posted its earnings results on Tuesday, June 23rd. The medical research company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.07. Icon had a return on equity of 8.71% and a net margin of 5.35%.The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the firm earned $3.43 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, research analysts predict that Icon will post 9.38 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Toth Financial Advisory Corp acquired a new stake in Icon in the 4th quarter valued at approximately $27,000. EFG International AG acquired a new position in Icon during the 4th quarter worth approximately $27,000. Ameriflex Group Inc. acquired a new position in Icon during the 3rd quarter worth approximately $33,000. Abound Financial LLC bought a new position in shares of Icon during the 4th quarter worth approximately $54,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Icon in the third quarter valued at approximately $71,000. 95.61% of the stock is currently 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.