Icon (NASDAQ:ICLR) Price Target Lowered to $120.00 at Barclays

Icon (NASDAQ:ICLR) had its target price cut by Barclays from $200.00 to $120.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the medical research company’s stock.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Icon in a research note on Monday, December 29th. Robert W. Baird set a $119.00 price objective on shares of Icon in a report on Friday, February 13th. Rothschild & Co Redburn set a $100.00 target price on Icon and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Zacks Research lowered Icon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Finally, TD Cowen raised Icon from a “hold” rating to a “buy” rating and cut their price target for the company from $183.00 to $120.00 in a report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $152.13.

Icon Trading Up 2.6%

Shares of ICLR stock opened at $110.03 on Monday. Icon has a fifty-two week low of $66.57 and a fifty-two week high of $211.00. 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 stock’s fifty day moving average is $150.65 and its two-hundred day moving average is $167.41. The firm has a market capitalization of $8.89 billion, a P/E ratio of 14.89, a PEG ratio of 2.75 and a beta of 1.36.

Hedge Funds Weigh In On Icon

Several hedge funds have recently bought and sold shares of the company. Artisan Partners Limited Partnership increased its stake in Icon by 67.4% during the second quarter. Artisan Partners Limited Partnership now owns 7,184,870 shares of the medical research company’s stock worth $1,045,039,000 after purchasing an additional 2,893,946 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Icon by 739.2% in the third quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company’s stock valued at $573,526,000 after purchasing an additional 2,886,755 shares during the period. Harris Associates L P purchased a new position in shares of Icon in the second quarter valued at approximately $238,256,000. Capital World Investors grew its holdings in shares of Icon by 555.2% in the fourth quarter. Capital World Investors now owns 1,496,479 shares of the medical research company’s stock valued at $272,688,000 after purchasing an additional 1,268,095 shares in the last quarter. Finally, Norges Bank purchased a new stake in Icon during the 2nd quarter worth approximately $158,639,000. Institutional investors and hedge funds own 95.61% of the company’s stock.

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.