Evercore ISI Boosts Icon (NASDAQ:ICLR) Price Target to $170.00

Icon (NASDAQ:ICLR) had its target price boosted by analysts at Evercore ISI from $155.00 to $170.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s target price indicates a potential upside of 11.79% from the stock’s previous close.

ICLR has been the topic of a number of other research reports. Citigroup cut their target price on Icon from $290.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. The Goldman Sachs Group lowered their price objective on Icon from $180.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. TD Cowen lowered Icon from a “buy” rating to a “hold” rating and lowered their price objective for the company from $254.00 to $157.00 in a report on Monday, April 14th. Mizuho lowered their price objective on Icon from $200.00 to $173.00 and set an “outperform” rating on the stock in a report on Thursday, May 15th. Finally, Truist Financial lowered their price objective on Icon from $262.00 to $208.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Icon currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.08.

Icon Stock Up 1.0%

Icon stock opened at $152.07 on Wednesday. Icon has a 1-year low of $125.10 and a 1-year high of $347.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $12.28 billion, a PE ratio of 16.57, a P/E/G ratio of 1.84 and a beta of 1.17. The stock’s fifty day moving average is $140.09 and its two-hundred day moving average is $168.42.

Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, April 30th. The medical research company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.17 by $0.02. Icon had a return on equity of 11.46% and a net margin of 9.25%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm earned $3.47 earnings per share. Icon’s quarterly revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts expect that Icon will post 13.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Transcend Capital Advisors LLC grew its stake in shares of Icon by 7.6% during the first quarter. Transcend Capital Advisors LLC now owns 1,174 shares of the medical research company’s stock valued at $205,000 after acquiring an additional 83 shares in the last quarter. First National Bank Sioux Falls grew its stake in Icon by 5.7% in the second quarter. First National Bank Sioux Falls now owns 1,580 shares of the medical research company’s stock worth $230,000 after purchasing an additional 85 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Icon by 22.8% in the first quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company’s stock worth $99,000 after purchasing an additional 110 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in Icon by 8.7% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,657 shares of the medical research company’s stock worth $290,000 after purchasing an additional 132 shares in the last quarter. Finally, Horizon Investments LLC grew its stake in Icon by 23.7% in the first quarter. Horizon Investments LLC now owns 808 shares of the medical research company’s stock worth $141,000 after purchasing an additional 155 shares in the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

Icon Company Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.