ICON (ICLR) Downgraded by BidaskClub

ICON (NASDAQ:ICLR) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of ICON from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a research report on Wednesday, April 18th. Credit Suisse Group raised shares of ICON to a “buy” rating and set a $131.00 price target on the stock in a research report on Friday, February 16th. SunTrust Banks reaffirmed a “buy” rating and issued a $133.00 price target on shares of ICON in a research report on Monday, January 22nd. ValuEngine raised shares of ICON from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. Finally, Mizuho set a $109.00 price target on shares of ICON and gave the company a “hold” rating in a research report on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $126.18.

Shares of NASDAQ ICLR opened at $121.89 on Thursday. ICON has a fifty-two week low of $121.24 and a fifty-two week high of $122.93. The stock has a market capitalization of $6.65 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.93 and a beta of 0.43. The company has a current ratio of 1.85, a quick ratio of 1.95 and a debt-to-equity ratio of 0.29.

ICON (NASDAQ:ICLR) last announced its quarterly earnings results on Thursday, May 3rd. The medical research company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.01. ICON had a net margin of 14.80% and a return on equity of 26.56%. The business had revenue of $620.13 million for the quarter, compared to analysts’ expectations of $562.61 million. During the same quarter last year, the firm earned $1.29 EPS. The firm’s revenue for the quarter was up 43.6% compared to the same quarter last year. sell-side analysts expect that ICON will post 6.04 earnings per share for the current year.

A number of large investors have recently bought and sold shares of ICLR. SPF Beheer BV purchased a new stake in ICON in the 4th quarter valued at about $92,565,000. Boston Partners increased its stake in ICON by 46.3% in the 1st quarter. Boston Partners now owns 1,626,440 shares of the medical research company’s stock valued at $192,147,000 after buying an additional 514,715 shares during the last quarter. Renaissance Technologies LLC increased its stake in ICON by 37.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,817,307 shares of the medical research company’s stock valued at $203,811,000 after buying an additional 495,247 shares during the last quarter. WCM Investment Management CA increased its stake in ICON by 5.8% in the 4th quarter. WCM Investment Management CA now owns 4,281,211 shares of the medical research company’s stock valued at $480,138,000 after buying an additional 233,990 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in ICON by 20.6% in the 1st quarter. Principal Financial Group Inc. now owns 946,806 shares of the medical research company’s stock valued at $111,856,000 after buying an additional 161,558 shares during the last quarter. Hedge funds and other institutional investors own 92.00% of the company’s stock.

ICON Company Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.

Analyst Recommendations for ICON (NASDAQ:ICLR)

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