ValuEngine Downgrades Icon (NASDAQ:ICLR) to Hold

Icon (NASDAQ:ICLR) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday, ValuEngine reports.

ICLR has been the topic of a number of other research reports. KeyCorp raised their target price on shares of Icon from $157.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. UBS Group raised shares of Icon from a “sell” rating to a “neutral” rating and lifted their price target for the company from $135.00 to $171.00 in a report on Friday, July 26th. Zacks Investment Research lowered shares of Icon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Mizuho increased their price objective on shares of Icon from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, BidaskClub downgraded shares of Icon from a “buy” rating to a “hold” rating in a research report on Saturday. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $165.75.

ICLR traded up $0.17 during midday trading on Wednesday, reaching $147.06. The company had a trading volume of 323,651 shares, compared to its average volume of 271,529. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average of $155.40 and a two-hundred day moving average of $144.72. The company has a market cap of $7.94 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.09 and a beta of 0.63. Icon has a 1 year low of $118.10 and a 1 year high of $165.13.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. The firm had revenue of $695.14 million for the quarter, compared to analysts’ expectations of $693.56 million. Icon had a return on equity of 25.02% and a net margin of 13.05%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 EPS. On average, equities research analysts predict that Icon will post 6.87 EPS for the current year.

Several large investors have recently added to or reduced their stakes in ICLR. Comerica Securities Inc. boosted its stake in Icon by 52.0% in the 4th quarter. Comerica Securities Inc. now owns 2,073 shares of the medical research company’s stock worth $268,000 after purchasing an additional 709 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Icon by 2.2% in the first quarter. Janney Montgomery Scott LLC now owns 5,958 shares of the medical research company’s stock worth $814,000 after buying an additional 131 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Icon by 4.4% in the first quarter. Victory Capital Management Inc. now owns 15,793 shares of the medical research company’s stock worth $2,157,000 after buying an additional 668 shares in the last quarter. Stephens Inc. AR lifted its holdings in shares of Icon by 7.0% in the first quarter. Stephens Inc. AR now owns 9,639 shares of the medical research company’s stock worth $1,316,000 after buying an additional 629 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Icon by 8.1% during the first quarter. Systematic Financial Management LP now owns 10,042 shares of the medical research company’s stock worth $1,372,000 after acquiring an additional 755 shares during the last quarter. Hedge funds and other institutional investors own 83.54% 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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