Icon Plc (NASDAQ:ICLR) – Investment analysts at Jefferies Financial Group upped their FY2022 earnings per share (EPS) estimates for shares of Icon in a research note issued on Thursday, September 10th. Jefferies Financial Group analyst D. Windley now forecasts that the medical research company will post earnings per share of $8.86 for the year, up from their previous forecast of $8.79. Jefferies Financial Group has a “Buy” rating and a $220.00 price objective on the stock.
Icon (NASDAQ:ICLR) last announced its earnings results on Wednesday, July 22nd. The medical research company reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.10. The firm had revenue of $620.23 million for the quarter, compared to analysts’ expectations of $594.31 million. Icon had a net margin of 12.03% and a return on equity of 22.21%.
Several other analysts also recently commented on ICLR. Deutsche Bank increased their target price on Icon from $135.00 to $170.00 and gave the company a “hold” rating in a research note on Monday, July 27th. BidaskClub raised Icon from a “sell” rating to a “hold” rating in a research report on Friday. BofA Securities lowered Icon from a “buy” rating to a “neutral” rating in a research report on Friday, July 24th. Zacks Investment Research raised shares of Icon from a “sell” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, Credit Suisse Group boosted their price objective on shares of Icon from $181.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $178.45.
ICLR opened at $184.54 on Monday. The stock has a 50-day moving average price of $185.79 and a 200-day moving average price of $164.58. The firm has a market cap of $9.90 billion, a PE ratio of 30.76, a P/E/G ratio of 3.15 and a beta of 0.83. Icon has a 1 year low of $104.28 and a 1 year high of $199.83.
Hedge funds have recently made changes to their positions in the business. Hayek Kallen Investment Management purchased a new position in shares of Icon during the 2nd quarter worth $1,024,000. Ninety One UK Ltd increased its holdings in shares of Icon by 28.6% in the 2nd quarter. Ninety One UK Ltd now owns 1,107,191 shares of the medical research company’s stock worth $186,517,000 after buying an additional 246,317 shares during the last quarter. Ninety One SA PTY Ltd raised its position in shares of Icon by 13.6% during the 2nd quarter. Ninety One SA PTY Ltd now owns 2,747 shares of the medical research company’s stock valued at $463,000 after buying an additional 328 shares in the last quarter. Handelsbanken Fonder AB bought a new position in shares of Icon in the 2nd quarter valued at about $2,123,000. Finally, Ninety One North America Inc. grew its position in Icon by 39.1% in the second quarter. Ninety One North America Inc. now owns 14,048 shares of the medical research company’s stock worth $2,367,000 after acquiring an additional 3,946 shares in the last quarter. 83.74% of the stock is owned by institutional investors and hedge funds.
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.
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