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

Shares of Icon Plc (NASDAQ:ICLR) have received an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the company, Marketbeat reports. Eleven analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $205.3125.

ICLR has been the topic of a number of recent research reports. Bank of America downgraded Icon from a “buy” rating to a “neutral” rating and set a $195.00 price objective on the stock. in a report on Monday. Jefferies Financial Group cut Icon from a “buy” rating to a “hold” rating and lowered their price target for the company from $220.00 to $175.00 in a research report on Tuesday, September 9th. Citigroup reissued a “neutral” rating and set a $200.00 price objective (down from $225.00) on shares of Icon in a report on Thursday, August 21st. UBS Group set a $220.00 target price on shares of Icon in a research report on Friday, October 24th. Finally, BMO Capital Markets started coverage on shares of Icon in a research note on Thursday, November 13th. They set a “market perform” rating and a $175.00 price objective on the stock.

Icon Price Performance

NASDAQ:ICLR opened at $179.34 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06. The company has a 50-day moving average of $176.16 and a 200-day moving average of $167.76. Icon has a 52 week low of $125.10 and a 52 week high of $228.29. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 3.38 and a beta of 1.25.

Institutional Investors Weigh In On Icon

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. boosted its stake in Icon by 11.5% in the second quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock worth $79,000 after purchasing an additional 56 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Icon by 10.1% in the third quarter. Spire Wealth Management now owns 678 shares of the medical research company’s stock valued at $119,000 after buying an additional 62 shares during the last quarter. First National Bank Sioux Falls lifted its position in Icon by 5.7% during the 2nd quarter. First National Bank Sioux Falls now owns 1,580 shares of the medical research company’s stock worth $230,000 after buying an additional 85 shares in the last quarter. Mutual Advisors LLC grew its holdings in Icon by 3.6% during the 2nd quarter. Mutual Advisors LLC now owns 2,698 shares of the medical research company’s stock worth $392,000 after acquiring an additional 93 shares during the last quarter. Finally, Private Trust Co. NA increased its position in Icon by 200.0% in the 3rd quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 94 shares in the last quarter. 95.61% of the stock is owned by institutional investors and hedge funds.

About Icon

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.