Icon (NASDAQ:ICLR – Get Free Report) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.
Other equities research analysts have also issued research reports about the stock. Truist Financial upgraded shares of Icon from a “hold” rating to a “buy” rating and raised their price target for the stock from $159.00 to $207.00 in a research note on Tuesday, June 30th. Royal Bank Of Canada upgraded Icon from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $126.00 to $185.00 in a research note on Thursday, June 25th. UBS Group set a $160.00 price target on Icon in a research report on Wednesday, June 24th. Jefferies Financial Group reissued a “buy” rating and issued a $165.00 price objective on shares of Icon in a report on Friday, May 29th. Finally, Bank of America increased their target price on shares of Icon from $125.00 to $150.00 and gave the stock an “underperform” rating in a research report on Thursday, June 25th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Icon currently has an average rating of “Hold” and a consensus price target of $168.73.
Check Out Our Latest Stock Analysis on ICLR
Icon Price Performance
Icon (NASDAQ:ICLR – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The medical research company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2 billion. Icon had a net margin of 5.35% and a return on equity of 8.73%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.26 earnings per share. On average, equities research analysts forecast that Icon will post 9.43 earnings per share for the current year.
Institutional Trading of Icon
A number of institutional investors have recently added to or reduced their stakes in the stock. Trinity Street Asset Management LLP grew its holdings in Icon by 27.1% during the 2nd quarter. Trinity Street Asset Management LLP now owns 1,535,462 shares of the medical research company’s stock valued at $266,725,000 after buying an additional 327,314 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Icon by 463.8% in the second quarter. Handelsbanken Fonder AB now owns 71,817 shares of the medical research company’s stock worth $12,475,000 after buying an additional 59,078 shares in the last quarter. Polianta Ltd purchased a new stake in shares of Icon in the second quarter worth about $1,876,000. GAMMA Investing LLC boosted its position in shares of Icon by 21.4% in the second quarter. GAMMA Investing LLC now owns 391 shares of the medical research company’s stock valued at $68,000 after acquiring an additional 69 shares during the period. Finally, Grove Bank & Trust grew its stake in Icon by 30.0% during the second quarter. Grove Bank & Trust now owns 866 shares of the medical research company’s stock valued at $150,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.
About Icon
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.
Further Reading
- Five stocks we like better than Icon
- Why SK hynix Could Be the Best AI Chip Stock to Buy Now
- Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters
- Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead?
- Why Bloom Energy May Be the Most Important AI Infrastructure Stock
Receive News & Ratings for Icon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Icon and related companies with MarketBeat.com's FREE daily email newsletter.
