Icon Plc (ICLR) Lowered to “Hold” at Zacks Investment Research
Icon Plc (NASDAQ:ICLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
Several other analysts also recently issued reports on the stock. Jefferies Group LLC raised shares of Icon Plc from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $117.00 in a report on Thursday, June 29th. Goldman Sachs Group, Inc. (The) raised shares of Icon Plc from a “buy” rating to a “conviction-buy” rating and set a $117.00 price objective for the company in a report on Friday, July 7th. Credit Suisse Group reaffirmed an “outperform” rating and set a $102.00 price objective (up from $91.00) on shares of Icon Plc in a report on Tuesday, June 6th. BidaskClub raised shares of Icon Plc from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Finally, Mizuho upped their price objective on shares of Icon Plc from $104.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Icon Plc presently has a consensus rating of “Buy” and a consensus target price of $113.67.
Shares of Icon Plc (ICLR) traded down 0.22% during midday trading on Friday, reaching $111.34. The company’s stock had a trading volume of 224,663 shares. The stock’s 50 day moving average price is $108.18 and its 200 day moving average price is $93.43. Icon Plc has a one year low of $73.76 and a one year high of $117.53. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 22.58 and a beta of 0.61.
Icon Plc (NASDAQ:ICLR) last posted its quarterly earnings data on Thursday, July 27th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.01. The business had revenue of $431.00 million during the quarter, compared to the consensus estimate of $430.68 million. Icon Plc had a net margin of 15.97% and a return on equity of 28.72%. Icon Plc’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. Analysts predict that Icon Plc will post $5.32 earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in ICLR. Shine Investment Advisory Services Inc. acquired a new position in Icon Plc during the 2nd quarter valued at $103,000. Acrospire Investment Management LLC raised its stake in Icon Plc by 20.1% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock valued at $117,000 after purchasing an additional 200 shares during the last quarter. Parallel Advisors LLC raised its stake in Icon Plc by 20.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,265 shares of the medical research company’s stock valued at $133,000 after purchasing an additional 217 shares during the last quarter. US Bancorp DE raised its stake in Icon Plc by 15.0% during the 1st quarter. US Bancorp DE now owns 1,929 shares of the medical research company’s stock valued at $154,000 after purchasing an additional 251 shares during the last quarter. Finally, Huntington National Bank raised its stake in Icon Plc by 5.0% during the 2nd quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock valued at $159,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 90.62% of the company’s stock.
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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