Icon Plc (NASDAQ:ICLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $126.00 target price on the medical research company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.12% from the stock’s previous close.

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. “

A number of other research analysts have also recently issued reports on ICLR. ValuEngine cut shares of Icon Plc from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Jefferies Group LLC raised shares of Icon Plc from a “hold” rating to a “buy” rating and increased their target price for the company from $86.00 to $117.00 in a report on Thursday, June 29th. BidaskClub raised shares of Icon Plc from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $102.00 target price (up from $91.00) on shares of Icon Plc in a report on Tuesday, June 6th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Icon Plc in a report on Monday, July 31st. Three equities 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 has an average rating of “Buy” and a consensus target price of $110.63.

Shares of Icon Plc (NASDAQ ICLR) opened at 113.39 on Friday. Icon Plc has a 12-month low of $73.76 and a 12-month high of $114.27. The company has a 50-day moving average price of $104.15 and a 200 day moving average price of $91.40. The firm has a market capitalization of $6.13 billion, a PE ratio of 23.00 and a beta of 0.60.

Icon Plc (NASDAQ:ICLR) last posted its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.01. The firm had revenue of $431 million during the quarter, compared to analysts’ expectations of $430.68 million. Icon Plc had a net margin of 15.97% and a return on equity of 28.72%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 earnings per share. On average, equities analysts expect that Icon Plc will post $5.32 earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. IHT Wealth Management LLC boosted its position in shares of Icon Plc by 16.9% in the second quarter. IHT Wealth Management LLC now owns 166 shares of the medical research company’s stock worth $223,000 after buying an additional 24 shares during the period. IFP Advisors Inc boosted its position in shares of Icon Plc by 2.7% in the first quarter. IFP Advisors Inc now owns 2,232 shares of the medical research company’s stock worth $178,000 after buying an additional 59 shares during the period. World Asset Management Inc boosted its position in shares of Icon Plc by 1.8% in the first quarter. World Asset Management Inc now owns 3,455 shares of the medical research company’s stock worth $275,000 after buying an additional 60 shares during the period. Huntington National Bank boosted its position in shares of Icon Plc by 5.0% in the second quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock worth $159,000 after buying an additional 77 shares during the period. Finally, Sawtooth Solutions LLC boosted its position in shares of Icon Plc by 1.0% in the first quarter. Sawtooth Solutions LLC now owns 10,556 shares of the medical research company’s stock worth $842,000 after buying an additional 102 shares during the period. 90.62% 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.

Analyst Recommendations for Icon Plc (NASDAQ:ICLR)

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