Icon Plc (ICLR) Lowered to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Icon Plc (NASDAQ:ICLR) from a buy rating to a hold rating in a research report released on Thursday morning.
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. “
Several other brokerages have also recently commented on ICLR. ValuEngine cut shares of Icon Plc from a buy rating to a hold rating in a research note on Wednesday, May 31st. Jefferies Group LLC upgraded shares of Icon Plc from a hold rating to a buy rating and raised their price objective for the company from $86.00 to $117.00 in a research note on Thursday, June 29th. BidaskClub upgraded shares of Icon Plc from a hold rating to a buy rating in a research note on Friday, June 23rd. Credit Suisse Group reiterated an outperform rating and issued a $102.00 price objective (up previously from $91.00) on shares of Icon Plc in a research note on Tuesday, June 6th. Finally, KeyCorp reiterated an overweight rating on shares of Icon Plc in a research note on Monday, July 31st. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Icon Plc presently has a consensus rating of Buy and a consensus price target of $110.63.
Shares of Icon Plc (NASDAQ:ICLR) traded down 0.48% on Thursday, hitting $116.06. 167,659 shares of the company’s stock were exchanged. Icon Plc has a 12-month low of $73.76 and a 12-month high of $117.53. The company’s 50-day moving average price is $105.96 and its 200 day moving average price is $92.25. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 23.54 and a beta of 0.61.
Icon Plc (NASDAQ:ICLR) last announced its quarterly earnings data on Thursday, July 27th. The medical research company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.01. Icon Plc had a net margin of 15.97% and a return on equity of 28.72%. The firm had revenue of $431 million during the quarter, compared to analysts’ expectations of $430.68 million. During the same quarter last year, the business earned $1.14 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Icon Plc will post $5.32 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. World Asset Management Inc raised its position in Icon Plc by 1.8% during the first quarter. World Asset Management Inc now owns 3,455 shares of the medical research company’s stock worth $275,000 after acquiring an additional 60 shares during the last quarter. Morgan Stanley raised its position in Icon Plc by 89.8% during the first quarter. Morgan Stanley now owns 147,238 shares of the medical research company’s stock worth $11,737,000 after acquiring an additional 69,669 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Icon Plc during the second quarter worth about $626,000. Dynamic Technology Lab Private Ltd acquired a new position in Icon Plc during the first quarter worth about $531,000. Finally, Principal Financial Group Inc. raised its position in Icon Plc by 16.2% during the first quarter. Principal Financial Group Inc. now owns 383,659 shares of the medical research company’s stock worth $30,585,000 after acquiring an additional 53,410 shares during the last quarter. Institutional investors 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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