Zacks Investment Research cut shares of Icon (NASDAQ:ICLR) from a buy rating to a hold rating in a research note published on Wednesday.
According to Zacks, “ICON plc is a global full service clinical research organisation. The company provides contract clinical research services to the pharmaceutical industry worldwide. “
A number of other brokerages have also issued reports on ICLR. Barclays upped their price objective on shares of Icon from $108.00 to $120.00 and gave the company an equal weight rating in a report on Friday, October 27th. SunTrust Banks reissued a buy rating and issued a $138.00 price objective on shares of Icon in a report on Sunday, October 29th. Jefferies Group reissued a buy rating and issued a $122.00 price objective on shares of Icon in a report on Tuesday, September 12th. Robert W. Baird reaffirmed a buy rating and set a $123.00 target price on shares of Icon in a research note on Thursday, October 12th. Finally, ValuEngine lowered shares of Icon from a buy rating to a hold rating in a research note on Monday, October 2nd. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $121.82.
Shares of Icon (NASDAQ:ICLR) opened at $113.27 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.90 and a quick ratio of 1.90. Icon has a 1-year low of $76.46 and a 1-year high of $124.48. The stock has a market cap of $6,120.00, a PE ratio of 21.99, a P/E/G ratio of 1.63 and a beta of 0.61.
Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Thursday, October 26th. The medical research company reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.03. Icon had a net margin of 16.37% and a return on equity of 28.42%. The firm had revenue of $440.30 million during the quarter, compared to analyst estimates of $438.09 million. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Icon’s quarterly revenue was up 4.8% on a year-over-year basis. research analysts expect that Icon will post 5.37 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. IHT Wealth Management LLC boosted its stake in Icon by 16.9% during the second quarter. IHT Wealth Management LLC now owns 166 shares of the medical research company’s stock worth $223,000 after buying an additional 24 shares during the period. Bangor Savings Bank boosted its stake in Icon by 1.4% during the second quarter. Bangor Savings Bank now owns 11,539 shares of the medical research company’s stock worth $1,128,000 after buying an additional 161 shares during the period. Acrospire Investment Management LLC boosted its stake in Icon by 20.1% during the second quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock worth $117,000 after buying an additional 200 shares during the period. D.A. Davidson & CO. boosted its stake in Icon by 7.8% during the second quarter. D.A. Davidson & CO. now owns 4,761 shares of the medical research company’s stock worth $465,000 after buying an additional 345 shares during the period. Finally, MML Investors Services LLC boosted its stake in Icon by 9.0% during the second quarter. MML Investors Services LLC now owns 4,983 shares of the medical research company’s stock worth $487,000 after buying an additional 413 shares during the period. 89.66% of the stock is owned by institutional investors.
Icon Company Profile
ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.
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