Icon Plc (ICLR) Earns “Buy” Rating from Robert W. Baird
Icon Plc (NASDAQ:ICLR)‘s stock had its “buy” rating restated by investment analysts at Robert W. Baird in a report released on Thursday. They presently have a $123.00 price objective on the medical research company’s stock. Robert W. Baird’s target price would indicate a potential upside of 6.15% from the stock’s previous close.
A number of other research analysts have also weighed in on the company. Zacks Investment Research upgraded Icon Plc from a “sell” rating to a “hold” rating and set a $128.00 price objective on the stock in a report on Wednesday. Jefferies Group LLC raised their price objective on Icon Plc from $122.00 to $132.00 and gave the company a “buy” rating in a report on Monday. ValuEngine lowered Icon Plc from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Bank of America Corporation assumed coverage on Icon Plc in a report on Monday, September 11th. They issued a “buy” rating and a $128.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $117.33.
Icon Plc (NASDAQ:ICLR) traded down 0.90% during midday trading on Thursday, hitting $114.83. 170,269 shares of the stock traded hands. Icon Plc has a 12 month low of $73.76 and a 12 month high of $117.53. The firm has a market cap of $6.21 billion, a PE ratio of 23.29 and a beta of 0.59. The company’s 50 day moving average price is $112.63 and its 200 day moving average price is $97.70.
Icon Plc (NASDAQ:ICLR) last announced its quarterly earnings data on Thursday, July 27th. The medical research company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.01. The company had revenue of $431.00 million for the quarter, compared to analyst estimates of $430.68 million. Icon Plc had a return on equity of 28.72% and a net margin of 15.97%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. Equities research analysts predict that Icon Plc will post $5.32 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently modified their holdings of ICLR. Renaissance Technologies LLC increased its stake in shares of Icon Plc by 252.6% in the 1st quarter. Renaissance Technologies LLC now owns 955,860 shares of the medical research company’s stock worth $76,201,000 after acquiring an additional 684,760 shares during the last quarter. Koch Industries Inc. increased its stake in shares of Icon Plc by 17,508.8% in the 2nd quarter. Koch Industries Inc. now owns 666,140 shares of the medical research company’s stock worth $659,000 after acquiring an additional 662,357 shares during the last quarter. FMR LLC increased its stake in shares of Icon Plc by 38.4% in the 2nd quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock worth $224,037,000 after acquiring an additional 635,950 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Icon Plc by 45.2% in the 1st quarter. Clearbridge Investments LLC now owns 1,594,656 shares of the medical research company’s stock worth $127,126,000 after acquiring an additional 496,700 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Icon Plc by 48.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,068,159 shares of the medical research company’s stock worth $104,488,000 after acquiring an additional 348,292 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.
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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