Zacks Investment Research upgraded shares of Icon Plc (NASDAQ:ICLR) from a hold rating to a buy rating in a research note issued to investors on Saturday. They currently have $131.00 price objective on the medical research company’s 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. “

Several other research firms have also issued reports on ICLR. ValuEngine lowered shares of Icon Plc from a buy rating to a hold rating in a research report on Wednesday, May 31st. Jefferies Group LLC upgraded shares of Icon Plc from a hold rating to a buy rating and increased their price target for the stock from $86.00 to $117.00 in a research report on Thursday, June 29th. BidaskClub upgraded shares of Icon Plc from a hold rating to a buy rating in a research report on Friday, June 23rd. Credit Suisse Group reiterated an outperform rating and set a $102.00 price target (up previously from $91.00) on shares of Icon Plc in a research report on Tuesday, June 6th. Finally, KeyCorp reiterated an overweight rating on shares of Icon Plc in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $113.67.

Icon Plc (ICLR) opened at 114.71 on Friday. Icon Plc has a one year low of $73.76 and a one year high of $117.53. The stock has a 50 day moving average price of $106.86 and a 200 day moving average price of $92.74. The firm has a market capitalization of $6.20 billion, a P/E ratio of 23.27 and a beta of 0.61.

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 Thomson Reuters’ consensus estimate of $1.30 by $0.01. The business had revenue of $431.00 million for the quarter, compared to analyst estimates 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 quarter last year, the business posted $1.14 EPS. On average, equities analysts predict that Icon Plc will post $5.32 EPS for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the business. WCM Investment Management CA boosted its position in Icon Plc by 6.8% in the second quarter. WCM Investment Management CA now owns 3,965,106 shares of the medical research company’s stock valued at $387,747,000 after buying an additional 252,853 shares in the last quarter. Wellington Management Group LLP boosted its position in Icon Plc by 0.5% in the first quarter. Wellington Management Group LLP now owns 3,596,168 shares of the medical research company’s stock valued at $286,687,000 after buying an additional 17,609 shares in the last quarter. Alliancebernstein L.P. boosted its position in Icon Plc by 6.4% in the first quarter. Alliancebernstein L.P. now owns 2,987,617 shares of the medical research company’s stock valued at $238,173,000 after buying an additional 178,995 shares in the last quarter. FMR LLC boosted its position in Icon Plc by 38.4% in the second quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock valued at $224,037,000 after buying an additional 635,950 shares in the last quarter. Finally, Wasatch Advisors Inc. boosted its position in Icon Plc by 0.7% in the second quarter. Wasatch Advisors Inc. now owns 1,850,244 shares of the medical research company’s stock valued at $180,935,000 after buying an additional 13,104 shares in the last quarter. Hedge funds and other 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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