Icon (NASDAQ:ICLR) Coverage Initiated at Citigroup

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Equities research analysts at Citigroup started coverage on shares of Icon (NASDAQ:ICLR) in a note issued to investors on Monday, January 6th, Marketbeat reports. The brokerage set a “neutral” rating and a $185.00 price target on the medical research company’s stock. Citigroup‘s target price suggests a potential upside of 6.57% from the company’s current price.

Other analysts have also recently issued reports about the stock. UBS Group set a $160.00 price objective on shares of Icon and gave the stock a “hold” rating in a research note on Friday, October 25th. ValuEngine lowered shares of Icon from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. BidaskClub raised shares of Icon from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Credit Suisse Group reaffirmed a “buy” rating and issued a $160.00 target price on shares of Icon in a report on Monday, October 28th. Finally, Zacks Investment Research raised shares of Icon from a “hold” rating to a “buy” rating and set a $191.00 target price on the stock in a report on Wednesday, December 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $169.56.

ICLR traded up $2.00 on Monday, reaching $173.60. 9,229 shares of the company traded hands, compared to its average volume of 213,955. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.05 and a beta of 0.70. The stock’s 50 day moving average price is $166.68 and its 200-day moving average price is $155.44. Icon has a 52-week low of $127.58 and a 52-week high of $173.00.

Icon (NASDAQ:ICLR) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $1.74 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.74. Icon had a net margin of 13.16% and a return on equity of 24.86%. The firm had revenue of $710.40 million during the quarter, compared to analysts’ expectations of $709.75 million. During the same period in the previous year, the company earned $1.54 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Icon will post 6.89 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. LVM Capital Management Ltd. MI lifted its stake in Icon by 0.9% in the 4th quarter. LVM Capital Management Ltd. MI now owns 62,935 shares of the medical research company’s stock valued at $10,839,000 after buying an additional 560 shares in the last quarter. Allred Capital Management LLC purchased a new position in Icon in the 4th quarter worth approximately $64,000. Diversified Trust Co lifted its stake in Icon by 30.0% in the 4th quarter. Diversified Trust Co now owns 7,753 shares of the medical research company’s stock worth $1,335,000 after purchasing an additional 1,791 shares in the last quarter. Henry James International Management Inc. lifted its stake in Icon by 3.7% in the 4th quarter. Henry James International Management Inc. now owns 30,966 shares of the medical research company’s stock worth $5,333,000 after purchasing an additional 1,113 shares in the last quarter. Finally, Bangor Savings Bank lifted its stake in Icon by 2.9% in the 4th quarter. Bangor Savings Bank now owns 8,222 shares of the medical research company’s stock worth $1,416,000 after purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Icon Company Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.

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Analyst Recommendations for Icon (NASDAQ:ICLR)

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