Icon (NASDAQ:ICLR) Given New $140.00 Price Target at Citigroup

Icon (NASDAQ:ICLR) had its target price increased by Citigroup from $120.00 to $140.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Citigroup’s price target would indicate a potential upside of 1.59% from the stock’s previous close.

ICLR has been the topic of a number of other research reports. Bank of America reissued an “underperform” rating and issued a $105.00 price objective on shares of Icon in a research note on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $165.00 price objective on shares of Icon in a research note on Friday. TD Cowen raised Icon from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $183.00 to $120.00 in a research note on Wednesday, February 18th. Royal Bank Of Canada boosted their price objective on Icon from $123.00 to $126.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Truist Financial lifted their target price on Icon from $139.00 to $159.00 and gave the stock a “hold” rating in a report on Friday. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $153.00.

Icon Price Performance

Shares of ICLR traded up $1.02 during midday trading on Friday, reaching $137.82. The stock had a trading volume of 774,945 shares, compared to its average volume of 1,592,380. 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 current ratio of 1.06 and a quick ratio of 1.06. The firm’s 50 day moving average price is $112.28 and its 200-day moving average price is $141.50. The company has a market capitalization of $11.13 billion, a P/E ratio of 22.38, a P/E/G ratio of 3.09 and a beta of 1.23.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, May 27th. The medical research company reported $2.52 EPS for the quarter, missing analysts’ consensus estimates of $2.95 by ($0.43). Icon had a return on equity of 10.58% and a net margin of 7.40%.The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm posted $3.43 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Icon has set its FY 2026 guidance at 10.000-11.000 EPS. On average, analysts forecast that Icon will post 11.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Icon

A number of institutional investors and hedge funds have recently modified their holdings of ICLR. Principal Financial Group Inc. lifted its position in shares of Icon by 739.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company’s stock worth $573,526,000 after buying an additional 2,886,755 shares during the period. Harris Associates L P bought a new position in Icon during the 2nd quarter worth $238,256,000. Capital World Investors raised its position in Icon by 555.2% during the 4th quarter. Capital World Investors now owns 1,496,479 shares of the medical research company’s stock worth $272,688,000 after purchasing an additional 1,268,095 shares during the last quarter. Wellington Management Group LLP raised its position in Icon by 26.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock worth $811,499,000 after purchasing an additional 975,268 shares during the last quarter. Finally, Lyrical Asset Management LP bought a new position in Icon during the 4th quarter worth $176,382,000. 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.