For ICON Public Limited Company [ICLR], Analyst sees a rise to $260. What next?

ICON Public Limited Company [NASDAQ: ICLR] traded at a low on 09/02/22, posting a -0.94 loss after which it closed the day’ session at $206.74. The company report on August 31, 2022 that ICON plc to Present at the 2022 Wells Fargo Healthcare Conference.

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ICON plc, (NASDAQ: ICLR) a world-leading healthcare intelligence and clinical research organisation, today announced that Mr. Brendan Brennan, CFO of ICON plc, will present at the 2022 Wells Fargo Healthcare Conference on Wednesday, September 7, 2022. The presentation will be webcast live from 10:25am EDT.

Any changes to these events and links to the live webcast (where available) will be posted on the Investor section of our website under “Events”.

The results of the trading session contributed to over 312666 shares changing hands. Over the past one week, the price volatility of ICON Public Limited Company stands at 2.49% while the volatility over the past one month is 3.07%.

The market cap for ICLR stock reached $18.13 billion, with 81.40 million shares outstanding and 80.96 million shares in the current float. Compared to the average trading volume of 460.17K shares, ICLR reached a trading volume of 312666 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about ICON Public Limited Company [ICLR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ICLR shares is $267.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ICLR stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for ICON Public Limited Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 25, 2022. While these analysts kept the previous recommendation, Guggenheim raised their target price to Buy. The new note on the price target was released on May 24, 2022, representing the official price target for ICON Public Limited Company stock. Previously, the target price had yet another raise to $250, while Wells Fargo analysts kept a Equal Weight rating on ICLR stock. On April 12, 2022, analysts increased their price target for ICLR shares from 234 to 310.

The Average True Range (ATR) for ICON Public Limited Company is set at 7.69, with the Price to Sales ratio for ICLR stock in the period of the last 12 months amounting to 2.39. The Price to Book ratio for the last quarter was 2.07, with the Price to Cash per share for the same quarter was set at 7.03. Price to Free Cash Flow for ICLR in the course of the last twelve months was 20.65 with Quick ratio for the last quarter at 1.20.

How has ICLR stock performed recently?

ICON Public Limited Company [ICLR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.15. With this latest performance, ICLR shares dropped by -10.69% in over the last four-week period, additionally sinking by -8.65% over the last 6 months – not to mention a drop of -20.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ICLR stock in for the last two-week period is set at 33.09, with the RSI for the last a single of trading hit 25.02, and the three-weeks RSI is set at 38.43 for ICON Public Limited Company [ICLR]. The present Moving Average for the last 50 days of trading for this stock 223.70, while it was recorded at 208.93 for the last single week of trading, and 241.82 for the last 200 days.

ICON Public Limited Company [ICLR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ICON Public Limited Company [ICLR] shares currently have an operating margin of +10.83 and a Gross Margin at +21.77. ICON Public Limited Company’s Net Margin is presently recorded at +2.79.

Return on Equity for this stock inclined to 3.09, with Return on Assets sitting at 1.47.

ICON Public Limited Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Earnings analysis for ICON Public Limited Company [ICLR]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ICLR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ICON Public Limited Company go to 16.86%.

Insider trade positions for ICON Public Limited Company [ICLR]

There are presently around $15,694 million, or 99.80% of ICLR stock, in the hands of institutional investors. The top three institutional holders of ICLR stocks are: MASSACHUSETTS FINANCIAL SERVICES CO /MA/ with ownership of 7,958,693, which is approximately 21.153% of the company’s market cap and around 4.00% of the total institutional ownership; WCM INVESTMENT MANAGEMENT, LLC, holding 6,423,666 shares of the stock with an approximate value of $1.33 billion in ICLR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $854.5 million in ICLR stock with ownership of nearly -12.089% of the company’s market capitalization.

Positions in ICON Public Limited Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 242 institutional holders increased their position in ICON Public Limited Company [NASDAQ:ICLR] by around 7,460,461 shares. Additionally, 266 investors decreased positions by around 5,570,783 shares, while 78 investors held positions by with 62,878,650 shares. The mentioned changes placed institutional holdings at 75,909,894 shares, according to the latest SEC report filing. ICLR stock had 66 new institutional investments in for a total of 650,117 shares, while 69 institutional investors sold positions of 1,559,150 shares during the same period.


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