ICON PLC (ICLR) Rating Lowered to Hold at Zacks Investment Research
ICON PLC (NASDAQ:ICLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
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. “
Other equities research analysts have also recently issued reports about the stock. Jefferies Group LLC reaffirmed a “buy” rating on shares of ICON PLC in a research report on Sunday, July 30th. SunTrust Banks, Inc. raised shares of ICON PLC from a “hold” rating to a “buy” rating and boosted their price objective for the company from $93.00 to $126.00 in a research report on Monday, July 31st. Robert W. Baird cut their price objective on shares of ICON PLC from $107.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 9th. Mizuho boosted their price objective on shares of ICON PLC from $104.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) raised shares of ICON PLC from a “buy” rating to a “conviction-buy” rating and set a $117.00 price objective on the stock in a research report on Friday, July 7th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $113.67.
ICON PLC (NASDAQ ICLR) opened at 111.34 on Friday. The firm has a market capitalization of $6.02 billion, a P/E ratio of 22.58 and a beta of 0.61. The stock has a 50 day moving average of $108.18 and a 200-day moving average of $93.43. ICON PLC has a 1-year low of $73.76 and a 1-year high of $117.53.
ICON PLC (NASDAQ:ICLR) last posted its quarterly earnings data on Thursday, July 27th. The medical research company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.30 by $0.01. The business had revenue of $431.00 million for 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 was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 EPS. On average, equities research analysts anticipate that ICON PLC will post $5.32 earnings per share for the current year.
Large investors have recently modified their holdings of the business. Shine Investment Advisory Services Inc. bought a new stake in ICON PLC during the 2nd quarter worth about $103,000. Acrospire Investment Management LLC lifted its position in ICON PLC by 20.1% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock worth $117,000 after buying an additional 200 shares in the last quarter. Parallel Advisors LLC lifted its position in ICON PLC by 20.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,265 shares of the medical research company’s stock worth $133,000 after buying an additional 217 shares in the last quarter. US Bancorp DE lifted its position in ICON PLC by 15.0% during the 1st quarter. US Bancorp DE now owns 1,929 shares of the medical research company’s stock worth $154,000 after buying an additional 251 shares in the last quarter. Finally, Huntington National Bank lifted its position 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 worth $159,000 after buying an additional 77 shares in the last quarter. 90.62% of the stock is currently owned by hedge funds and other institutional investors.
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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