Icon Plc (ICLR) Downgraded by 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. “
ICLR has been the subject of a number of other research reports. Jefferies Group LLC reiterated a “buy” rating and set a $122.00 target price on shares of Icon Plc in a research report on Tuesday, September 12th. SunTrust Banks, Inc. upgraded shares of Icon Plc from a “hold” rating to a “buy” rating and increased their target price for the stock from $93.00 to $126.00 in a research report on Monday, July 31st. Mizuho increased their target price on shares of Icon Plc from $104.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) upgraded shares of Icon Plc from a “buy” rating to a “conviction-buy” rating and set a $117.00 target price for the company in a research report on Friday, July 7th. Finally, Robert W. Baird cut their target price on shares of Icon Plc from $107.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 9th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Icon Plc currently has a consensus rating of “Buy” and an average price target of $113.00.
Shares of Icon Plc (ICLR) traded down 0.64% during mid-day trading on Friday, reaching $110.97. 227,723 shares of the company’s stock traded hands. Icon Plc has a 12-month low of $73.76 and a 12-month high of $117.53. The company has a market cap of $6.00 billion, a P/E ratio of 22.51 and a beta of 0.61. The firm has a 50-day moving average of $108.70 and a 200 day moving average of $93.99.
Icon Plc (NASDAQ:ICLR) last issued its earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. The firm had revenue of $431.00 million during the quarter, compared to analyst estimates of $430.68 million. Icon Plc had a net margin of 15.97% and a return on equity of 28.72%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share. Equities analysts forecast that Icon Plc will post $5.32 EPS for the current year.
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Several institutional investors have recently made changes to their positions in the company. WCM Investment Management CA lifted its holdings in shares of Icon Plc by 6.8% in the second quarter. WCM Investment Management CA now owns 3,965,106 shares of the medical research company’s stock worth $387,747,000 after buying an additional 252,853 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Icon Plc by 0.5% in the first quarter. Wellington Management Group LLP now owns 3,596,168 shares of the medical research company’s stock worth $286,687,000 after buying an additional 17,609 shares in the last quarter. FMR LLC lifted its holdings in shares of Icon Plc by 38.4% in the second quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock worth $224,037,000 after buying an additional 635,950 shares in the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Icon Plc by 0.7% in the second quarter. Wasatch Advisors Inc. now owns 1,850,244 shares of the medical research company’s stock worth $180,935,000 after buying an additional 13,104 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Icon Plc by 45.2% in the first quarter. Clearbridge Investments LLC now owns 1,594,656 shares of the medical research company’s stock worth $127,126,000 after buying an additional 496,700 shares in the last quarter. 90.61% of the stock is currently 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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