Zacks Investment Research Downgrades Icon Plc (ICLR) to Hold
Icon Plc (NASDAQ:ICLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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 equities analysts have also recently commented on the stock. 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. Bank of America Corporation assumed coverage on shares of Icon Plc in a report on Monday, September 11th. They set a “buy” rating and a $128.00 price target on the stock. ValuEngine raised shares of Icon Plc from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group LLC reaffirmed a “buy” rating on shares of Icon Plc in a report on Sunday, July 30th. Finally, Mizuho lifted their price target on shares of Icon Plc from $104.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Icon Plc currently has a consensus rating of “Buy” and an average price target of $120.60.
Icon Plc (NASDAQ:ICLR) last issued its earnings results on Thursday, October 26th. The medical research company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.32 by $0.03. The company had revenue of $440.30 million during the quarter, compared to analysts’ expectations of $438.09 million. Icon Plc had a net margin of 16.37% and a return on equity of 28.42%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.19 EPS.
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Institutional investors and hedge funds have recently bought and sold shares of the business. GRATRY & Co LLC grew its holdings in Icon Plc by 5.1% during the 3rd quarter. GRATRY & Co LLC now owns 30,144 shares of the medical research company’s stock worth $3,433,000 after acquiring an additional 1,474 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Icon Plc by 16.8% during the 2nd quarter. Principal Financial Group Inc. now owns 448,115 shares of the medical research company’s stock worth $43,821,000 after acquiring an additional 64,456 shares during the last quarter. GSA Capital Partners LLP grew its holdings in Icon Plc by 116.3% during the 2nd quarter. GSA Capital Partners LLP now owns 9,337 shares of the medical research company’s stock worth $913,000 after acquiring an additional 5,020 shares during the last quarter. Wesbanco Bank Inc. grew its holdings in Icon Plc by 18.6% during the 2nd quarter. Wesbanco Bank Inc. now owns 18,044 shares of the medical research company’s stock worth $1,765,000 after acquiring an additional 2,830 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Icon Plc by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 312,735 shares of the medical research company’s stock worth $30,582,000 after acquiring an additional 1,947 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.
About Icon Plc
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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