Icon (NASDAQ:ICLR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Icon (NASDAQ:ICLR) had its price target boosted by research analysts at JPMorgan Chase & Co. from $130.00 to $155.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 5.70% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Zacks Research lowered shares of Icon from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 25th. Truist Financial increased their price objective on shares of Icon from $139.00 to $159.00 and gave the company a “hold” rating in a research note on Friday, May 29th. DA Davidson set a $164.00 price objective on shares of Icon in a report on Monday, June 1st. Citigroup reissued a “neutral” rating on shares of Icon in a research note on Thursday. Finally, UBS Group set a $160.00 target price on Icon in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $168.56.

Icon Stock Up 3.9%

Shares of Icon stock traded up $6.20 during trading on Thursday, hitting $164.37. 215,160 shares of the stock traded hands, compared to its average volume of 1,518,858. The firm has a market cap of $12.59 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 11.70 and a beta of 1.26. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.31. Icon has a 52-week low of $66.57 and a 52-week high of $211.00. The stock’s fifty day simple moving average is $127.61 and its 200 day simple moving average is $138.23.

Icon (NASDAQ:ICLR) last released its quarterly earnings data 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. Icon had a net margin of 5.35% and a return on equity of 8.71%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the firm earned $3.43 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Icon will post 9.38 earnings per share for the current fiscal year.

Institutional Trading of Icon

Several hedge funds have recently modified their holdings of the company. Toth Financial Advisory Corp bought a new stake in shares of Icon in the 4th quarter valued at about $27,000. EFG International AG bought a new position in shares of Icon during the 4th quarter worth approximately $27,000. Ameriflex Group Inc. purchased a new stake in Icon during the third quarter valued at approximately $33,000. Abound Financial LLC purchased a new stake in Icon during the fourth quarter valued at approximately $54,000. Finally, Johnson Financial Group Inc. acquired a new stake in Icon in the third quarter valued at approximately $71,000. 95.61% of the stock is owned by hedge funds and other institutional investors.

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.