Icon Plc (NASDAQ:ICLR) Receives Average Rating of “Hold” from Analysts

Icon Plc (NASDAQ:ICLR) has received an average recommendation of “Hold” from the seventeen brokerages that are presently covering the firm, MarketBeat reports. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $200.60.

Several research firms have issued reports on ICLR. BMO Capital Markets began coverage on shares of Icon in a research note on Thursday, November 13th. They issued a “market perform” rating and a $175.00 price objective for the company. Mizuho set a $216.00 price target on Icon in a research note on Friday, January 9th. Bank of America cut Icon from a “buy” rating to a “neutral” rating and set a $195.00 price objective for the company. in a research note on Monday, December 15th. Robert W. Baird set a $217.00 price objective on Icon in a report on Friday, January 9th. Finally, Leerink Partners reaffirmed an “outperform” rating on shares of Icon in a report on Monday, January 5th.

Institutional Investors Weigh In On Icon

Large investors have recently modified their holdings of the stock. Artisan Partners Limited Partnership increased its stake in Icon by 67.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 7,184,870 shares of the medical research company’s stock valued at $1,045,039,000 after buying an additional 2,893,946 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Icon by 26.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock valued at $811,499,000 after buying an additional 975,268 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Icon by 21.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,752,008 shares of the medical research company’s stock valued at $545,730,000 after buying an additional 650,379 shares in the last quarter. Invesco Ltd. grew its holdings in Icon by 11.1% during the third quarter. Invesco Ltd. now owns 3,427,630 shares of the medical research company’s stock worth $599,835,000 after acquiring an additional 341,637 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Icon by 739.2% during the third quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company’s stock worth $573,526,000 after acquiring an additional 2,886,755 shares during the period. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Price Performance

ICLR stock opened at $144.55 on Friday. The business has a 50 day moving average price of $180.99 and a 200 day moving average price of $176.59. 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 cap of $11.67 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 3.24 and a beta of 1.27. Icon has a fifty-two week low of $125.10 and a fifty-two week high of $211.00.

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.