ICON PLC (ICLR) Lifted to “Buy” at ValuEngine
ValuEngine upgraded shares of ICON PLC (NASDAQ:ICLR) from a hold rating to a buy rating in a research report released on Friday morning.
Other equities analysts have also recently issued research reports about the company. Jefferies Group LLC upgraded ICON PLC from a hold rating to a buy rating and increased their target price for the stock from $86.00 to $117.00 in a report on Thursday, June 29th. Zacks Investment Research upgraded shares of ICON PLC from a hold rating to a buy rating and set a $108.00 price objective for the company in a research note on Tuesday, June 27th. BidaskClub upgraded shares of ICON PLC from a hold rating to a buy rating in a research note on Friday, June 23rd. SunTrust Banks, Inc. upgraded shares of ICON PLC from a hold rating to a buy rating and increased their price objective for the stock from $93.00 to $126.00 in a research note on Monday, July 31st. Finally, Credit Suisse Group restated a buy rating on shares of ICON PLC in a research note on Friday, July 28th. Two research analysts have rated the stock with a hold rating, eight have assigned 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 a consensus target price of $110.63.
ICON PLC (NASDAQ ICLR) traded up 0.49% during mid-day trading on Friday, reaching $113.94. The company had a trading volume of 299,168 shares. ICON PLC has a 12 month low of $73.76 and a 12 month high of $114.71. The firm’s 50-day moving average price is $104.55 and its 200-day moving average price is $91.61. The stock has a market cap of $6.16 billion, a PE ratio of 23.11 and a beta of 0.61.
ICON PLC (NASDAQ:ICLR) last released its earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 28.72% and a net margin of 15.97%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. Equities research analysts forecast that ICON PLC will post $5.32 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the stock. Shine Investment Advisory Services Inc. acquired a new stake in ICON PLC in the 2nd quarter valued at about $103,000. Acrospire Investment Management LLC lifted its stake in ICON PLC by 20.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock valued at $117,000 after purchasing an additional 200 shares during the last quarter. Parallel Advisors LLC lifted its stake in ICON PLC by 20.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,265 shares of the medical research company’s stock valued at $133,000 after purchasing an additional 217 shares during the last quarter. US Bancorp DE lifted its stake in ICON PLC by 15.0% in the 1st quarter. US Bancorp DE now owns 1,929 shares of the medical research company’s stock valued at $154,000 after purchasing an additional 251 shares during the last quarter. Finally, Huntington National Bank lifted its stake in ICON PLC by 5.0% in the 2nd quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock valued at $159,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 90.62% of the company’s stock.
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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