Icon Plc (ICLR) Given Buy Rating at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of Icon Plc (NASDAQ:ICLR) in a research note issued to investors on Tuesday morning. They currently have a $122.00 target price on the medical research company’s stock.
A number of other equities analysts have also recently weighed in on the company. Bank of America Corporation began coverage on Icon Plc in a report on Monday. They set a buy rating and a $128.00 price target for the company. Zacks Investment Research upgraded Icon Plc from a hold rating to a buy rating and set a $131.00 price target for the company in a report on Saturday. ValuEngine upgraded Icon Plc from a hold rating to a buy rating in a report on Friday, September 1st. BidaskClub upgraded Icon Plc from a buy rating to a strong-buy rating in a report on Tuesday, August 22nd. Finally, KeyCorp reiterated an overweight rating on shares of Icon Plc in a report on Monday, July 31st. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Icon Plc presently has a consensus rating of Buy and an average target price of $113.67.
Shares of Icon Plc (NASDAQ:ICLR) opened at 114.04 on Tuesday. The stock’s 50 day moving average is $106.86 and its 200-day moving average is $92.74. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 23.13 and a beta of 0.61. Icon Plc has a 52 week low of $73.76 and a 52 week high of $117.53.
Icon Plc (NASDAQ:ICLR) last released its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. The business had revenue of $431.00 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 EPS. On average, analysts anticipate that Icon Plc will post $5.32 earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the stock. IHT Wealth Management LLC boosted its holdings in Icon Plc by 16.9% during the 2nd quarter. IHT Wealth Management LLC now owns 166 shares of the medical research company’s stock valued at $223,000 after acquiring an additional 24 shares during the period. World Asset Management Inc boosted its holdings in Icon Plc by 1.8% during the 1st quarter. World Asset Management Inc now owns 3,455 shares of the medical research company’s stock valued at $275,000 after acquiring an additional 60 shares during the period. IFP Advisors Inc boosted its holdings in Icon Plc by 3.0% during the 2nd quarter. IFP Advisors Inc now owns 2,299 shares of the medical research company’s stock valued at $225,000 after acquiring an additional 67 shares during the period. Huntington National Bank boosted its holdings in Icon Plc by 5.0% during the 2nd quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock valued at $159,000 after acquiring an additional 77 shares during the period. Finally, Bangor Savings Bank boosted its holdings in Icon Plc by 1.4% during the 2nd quarter. Bangor Savings Bank now owns 11,539 shares of the medical research company’s stock valued at $1,128,000 after acquiring an additional 161 shares during the period. 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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