Icon (NASDAQ:ICLR) Stock Price Expected to Rise, Mizuho Analyst Says

Icon (NASDAQ:ICLR) had its target price upped by research analysts at Mizuho from $180.00 to $190.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Mizuho’s price objective points to a potential upside of 18.04% from the company’s previous close.

A number of other equities analysts have also weighed in on ICLR. UBS Group set a $160.00 target price on Icon in a research report on Wednesday. Piper Sandler downgraded shares of Icon to a “neutral” rating in a research report on Thursday, May 28th. DA Davidson set a $164.00 price objective on shares of Icon in a report on Monday, June 1st. TD Cowen raised their price objective on shares of Icon from $164.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Bank of America lifted their price objective on shares of Icon from $125.00 to $150.00 and gave the company an “underperform” rating in a report on Thursday. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $170.19.

Icon Stock Performance

Shares of ICLR opened at $160.96 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.10. The stock has a 50-day moving average of $128.57 and a 200-day moving average of $138.05. The company has a market cap of $12.32 billion, a PE ratio of 28.64, a P/E/G ratio of 11.25 and a beta of 1.26. Icon has a one year low of $66.57 and a one year high of $211.00.

Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Tuesday, June 23rd. The medical research company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.07. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.98 billion. Icon had a return on equity of 8.73% and a net margin of 5.35%.The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.43 EPS. On average, equities research analysts predict that Icon will post 9.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Icon

Large investors have recently bought and sold shares of the stock. Toth Financial Advisory Corp purchased a new position in Icon during the 4th quarter worth $27,000. EFG International AG bought a new position in shares of Icon during the fourth quarter valued at about $27,000. Ameriflex Group Inc. bought a new position in shares of Icon during the third quarter valued at about $33,000. Abound Financial LLC purchased a new position in Icon during the fourth quarter worth about $54,000. Finally, Johnson Financial Group Inc. purchased a new position in Icon during the third quarter worth about $71,000. 95.61% of the stock is currently owned by institutional investors.

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.