Zacks Investment Research Upgrades Icon Plc (ICLR) to Buy
Icon Plc (NASDAQ:ICLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $125.00 target price on the medical research company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.24% from the stock’s current price.
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 research analysts have also recently issued reports on ICLR. ValuEngine cut Icon Plc from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $102.00 price target (up from $91.00) on shares of Icon Plc in a report on Tuesday, June 6th. Robert W. Baird cut their price target on Icon Plc from $107.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 9th. BidaskClub cut Icon Plc from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Finally, Jefferies Group LLC raised Icon Plc from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $117.00 in a report on Thursday, June 29th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $113.00.
Icon Plc (NASDAQ:ICLR) traded up 1.84% during mid-day trading on Monday, hitting $113.39. 377,081 shares of the company were exchanged. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 23.00 and a beta of 0.61. Icon Plc has a 12-month low of $73.76 and a 12-month high of $117.53. The stock’s 50 day moving average is $108.49 and its 200-day moving average is $93.78.
Icon Plc (NASDAQ:ICLR) last released its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.01. Icon Plc had a return on equity of 28.72% and a net margin of 15.97%. The business had revenue of $431.00 million during the quarter, compared to analysts’ expectations of $430.68 million. During the same period in the previous year, the business posted $1.14 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts predict that Icon Plc will post $5.32 EPS for the current year.
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A number of large investors have recently made changes to their positions in ICLR. Fulton Bank raised its holdings in Icon Plc by 1.4% during the 4th quarter. Fulton Bank now owns 5,054 shares of the medical research company’s stock worth $393,000 after purchasing an additional 71 shares during the last quarter. BB&T Securities raised its holdings in Icon Plc by 11.2% during the 4th quarter. BB&T Securities now owns 25,088 shares of the medical research company’s stock worth $1,949,000 after purchasing an additional 2,525 shares during the last quarter. Boston Advisors raised its holdings in Icon Plc by 370.4% during the 4th quarter. Boston Advisors now owns 396,568 shares of the medical research company’s stock worth $30,813,000 after purchasing an additional 312,256 shares during the last quarter. Cim LLC raised its holdings in Icon Plc by 1.5% during the 4th quarter. Cim LLC now owns 5,885 shares of the medical research company’s stock worth $457,000 after purchasing an additional 85 shares during the last quarter. Finally, Advisory Services Network LLC raised its holdings in Icon Plc by 34.4% during the 4th quarter. Advisory Services Network LLC now owns 13,685 shares of the medical research company’s stock worth $1,063,000 after purchasing an additional 3,505 shares during the last quarter. 90.61% of the stock is owned by hedge funds and other 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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