Icon PLC (ICLR) Raised to “Buy” at Evercore ISI
Icon PLC (NASDAQ:ICLR) was upgraded by investment analysts at Evercore ISI to a “buy” rating in a report issued on Friday.
Several other equities research analysts also recently weighed in on ICLR. Credit Suisse Group AG started coverage on shares of Icon PLC in a research note on Monday, June 20th. They set an “outperform” rating and a $80.00 target price for the company. Robert W. Baird reissued an “outperform” rating and set a $83.00 price target on shares of Icon PLC in a report on Monday, June 27th. Jefferies Group increased their price target on shares of Icon PLC from $78.00 to $80.00 and gave the stock a “hold” rating in a report on Wednesday, July 27th. KeyCorp reissued a “buy” rating and set a $85.00 price target on shares of Icon PLC in a report on Wednesday, July 27th. Finally, Zacks Investment Research raised shares of Icon PLC from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Icon PLC has a consensus rating of “Buy” and a consensus price target of $79.31.
Icon PLC (NASDAQ:ICLR) opened at 77.04 on Friday. The firm has a market capitalization of $4.27 billion, a PE ratio of 17.81 and a beta of 0.66. Icon PLC has a one year low of $62.31 and a one year high of $79.80. The stock’s 50 day moving average price is $76.59 and its 200 day moving average price is $72.29.
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Icon PLC (NASDAQ:ICLR) last announced its earnings results on Tuesday, July 26th. The company reported $1.14 earnings per share for the quarter, hitting the consensus estimate of $1.14. Icon PLC had a net margin of 15.70% and a return on equity of 29.89%. The business earned $411 million during the quarter, compared to the consensus estimate of $409.97 million. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts expect that Icon PLC will post $4.70 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of ICLR. Boston Partners boosted its position in shares of Icon PLC by 6.2% in the fourth quarter. Boston Partners now owns 3,162,082 shares of the company’s stock worth $245,694,000 after buying an additional 185,762 shares during the period. Foresters Investment Management Company Inc. raised its stake in Icon PLC by 1.0% in the fourth quarter. Foresters Investment Management Company Inc. now owns 99,000 shares of the company’s stock valued at $7,692,000 after buying an additional 1,000 shares in the last quarter. Fulton Bank raised its stake in Icon PLC by 1.4% in the fourth quarter. Fulton Bank now owns 5,054 shares of the company’s stock valued at $393,000 after buying an additional 71 shares in the last quarter. WCM Investment Management CA raised its stake in Icon PLC by 7.1% in the fourth quarter. WCM Investment Management CA now owns 4,490,038 shares of the company’s stock valued at $348,876,000 after buying an additional 297,587 shares in the last quarter. Finally, Goelzer Investment Management Inc. raised its stake in Icon PLC by 1.5% in the fourth quarter. Goelzer Investment Management Inc. now owns 64,715 shares of the company’s stock valued at $5,028,000 after buying an additional 954 shares in the last quarter. 93.78% of the stock is owned by institutional investors.
Icon PLC 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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