Icon PLC (ICLR) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Icon PLC (NASDAQ:ICLR) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $87.00 price objective on the stock.
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. “
Other equities analysts have also recently issued reports about the stock. KeyCorp reiterated a buy rating and set a $85.00 price objective on shares of Icon PLC in a research report on Wednesday, July 27th. Jefferies Group cut shares of Icon PLC from a buy rating to a hold rating and lowered their price objective for the stock from $80.00 to $78.00 in a research report on Friday, June 3rd. Evercore ISI lifted their price objective on shares of Icon PLC from $76.00 to $81.50 and gave the stock a hold rating in a research report on Tuesday, July 26th. Robert W. Baird reiterated an outperform rating and set a $83.00 price objective on shares of Icon PLC in a research report on Monday, June 27th. Finally, Credit Suisse Group AG began coverage on shares of Icon PLC in a research report on Monday, June 20th. They set an outperform rating and a $80.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Icon PLC has a consensus rating of Hold and an average price target of $79.31.
Shares of Icon PLC (NASDAQ:ICLR) opened at 77.28 on Wednesday. The stock’s 50 day moving average price is $76.21 and its 200 day moving average price is $71.84. Icon PLC has a 12-month low of $62.31 and a 12-month high of $79.61. The firm has a market cap of $4.29 billion, a PE ratio of 17.86 and a beta of 0.92.
Icon PLC (NASDAQ:ICLR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.14 earnings per share for the quarter, hitting the consensus estimate of $1.14. Icon PLC had a net margin of 15.70% and a return on equity of 29.89%. The firm had revenue of $411 million for the quarter, compared to analysts’ expectations of $409.97 million. During the same period in the previous year, the company posted $0.95 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts predict that Icon PLC will post $4.70 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. raised its position in shares of Icon PLC by 1.9% in the second quarter. Macquarie Group Ltd. now owns 498,572 shares of the company’s stock worth $34,905,000 after buying an additional 9,250 shares in the last quarter. Carnick & Kubik Group LLC bought a new position in shares of Icon PLC during the second quarter worth approximately $1,322,000. Sterling Capital Management LLC raised its position in shares of Icon PLC by 77.5% in the second quarter. Sterling Capital Management LLC now owns 30,887 shares of the company’s stock worth $2,162,000 after buying an additional 13,487 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Icon PLC by 9.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,814 shares of the company’s stock worth $548,000 after buying an additional 667 shares in the last quarter. Finally, Fiera Capital Corp raised its position in shares of Icon PLC by 1,102.3% in the second quarter. Fiera Capital Corp now owns 959,409 shares of the company’s stock worth $67,169,000 after buying an additional 879,609 shares in the last quarter. 93.78% 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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