Icon Plc (NASDAQ:ICLR – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $213.76.
A number of brokerages have recently weighed in on ICLR. William Blair upgraded Icon to a “strong-buy” rating in a report on Thursday, July 30th. UBS Group increased their target price on Icon from $195.00 to $236.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Evercore reaffirmed an “outperform” rating and issued a $240.00 target price on shares of Icon in a research report on Wednesday, October 28th. BMO Capital Markets reiterated an “outperform” rating and issued a $235.00 target price on shares of Icon in a research note on Thursday, October 29th. Finally, Truist Financial boosted their price target on shares of Icon from $209.00 to $268.00 and gave the company a “buy” rating in a report on Thursday, October 29th.
Check Out Our Latest Stock Report on ICLR
Icon Price Performance
ICLR opened at $204.63 on Friday. Icon has a twelve month low of $66.57 and a twelve month high of $219.04. The firm has a market cap of $15.67 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 11.50 and a beta of 1.19. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $176.81 and a 200 day simple moving average of $147.26.
Icon (NASDAQ:ICLR – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The medical research company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.04. Icon had a return on equity of 7.73% and a net margin of 5.45%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the business earned $3.31 EPS. Icon’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts expect that Icon will post 9.71 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Bernard Clerkin sold 1,488 shares of Icon stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $206.66, for a total value of $307,510.08. Following the sale, the chief financial officer directly owned 7,171 shares in the company, valued at $1,481,958.86. This trade represents a 17.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Barry Balfe sold 5,175 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $206.66, for a total transaction of $1,069,465.50. Following the transaction, the chief executive officer directly owned 9,291 shares of the company’s stock, valued at $1,920,078.06. The trade was a 35.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 23,916 shares of company stock worth $4,512,452. 44.00% of the stock is owned by company insiders.
Institutional Trading of Icon
Large investors have recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC boosted its stake in Icon by 7.1% during the 3rd quarter. Stephens Investment Management Group LLC now owns 771,246 shares of the medical research company’s stock valued at $131,104,000 after purchasing an additional 50,985 shares in the last quarter. Muhlenkamp & Co. Inc. lifted its holdings in shares of Icon by 1.1% in the third quarter. Muhlenkamp & Co. Inc. now owns 67,038 shares of the medical research company’s stock valued at $11,396,000 after buying an additional 701 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Icon by 21.1% in the third quarter. Voya Investment Management LLC now owns 351,134 shares of the medical research company’s stock valued at $59,689,000 after buying an additional 61,216 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Icon by 26.9% in the third quarter. HighTower Advisors LLC now owns 7,976 shares of the medical research company’s stock valued at $1,356,000 after buying an additional 1,692 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc boosted its stake in Icon by 3.0% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 2,665 shares of the medical research company’s stock valued at $453,000 after buying an additional 77 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.
About Icon
ICON plc is a global contract research organization (CRO) that provides outsourced development services to pharmaceutical, biotechnology, medical device and government organizations. Its work supports the development of medicines and other healthcare products from early research through clinical trials and regulatory submission. The company’s services include clinical trial design and management, data management and biostatistics, regulatory support, laboratory services, medical imaging and patient recruitment.
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