Icon Plc (ICLR) Given Outperform Rating at Credit Suisse Group
Icon Plc (NASDAQ:ICLR)‘s stock had its “outperform” rating restated by equities research analysts at Credit Suisse Group in a research report issued to clients and investors on Monday, The Fly reports. They presently have a $120.00 price objective on the medical research company’s stock, up from their previous price objective of $105.00. Credit Suisse Group’s price target suggests a potential upside of 5.61% from the stock’s current price.
Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of Icon Plc from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Icon Plc from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Friday, September 1st. Jefferies Group LLC reaffirmed a “buy” rating on shares of Icon Plc in a research report on Sunday, July 30th. Robert W. Baird reaffirmed a “buy” rating and set a $123.00 price target on shares of Icon Plc in a research report on Thursday. Finally, SunTrust Banks, Inc. raised shares of Icon Plc from a “hold” rating to a “buy” rating and upped their price target for the company from $93.00 to $126.00 in a research report on Monday, July 31st. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $119.33.
Icon Plc (NASDAQ ICLR) opened at 113.63 on Monday. Icon Plc has a 1-year low of $73.76 and a 1-year high of $117.53. The firm has a market cap of $6.14 billion, a P/E ratio of 23.05 and a beta of 0.59. The stock has a 50 day moving average price of $113.18 and a 200-day moving average price of $98.33.
Icon Plc (NASDAQ:ICLR) last issued its quarterly earnings data on Thursday, July 27th. The medical research company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.01. Icon Plc had a net margin of 15.97% and a return on equity of 28.72%. The company had revenue of $431.00 million for the quarter, compared to analysts’ expectations of $430.68 million. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Icon Plc’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts forecast that Icon Plc will post $5.32 EPS for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. IHT Wealth Management LLC raised its holdings in shares of Icon Plc by 16.9% in the 2nd quarter. IHT Wealth Management LLC now owns 166 shares of the medical research company’s stock worth $223,000 after acquiring an additional 24 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of Icon Plc in the 2nd quarter worth about $103,000. Acrospire Investment Management LLC raised its holdings in shares of Icon Plc by 20.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock worth $117,000 after acquiring an additional 200 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Icon Plc by 20.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,265 shares of the medical research company’s stock worth $133,000 after acquiring an additional 217 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Icon Plc by 27.2% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,460 shares of the medical research company’s stock worth $111,000 after acquiring an additional 312 shares during the last quarter. Institutional investors own 91.54% 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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