Icon Plc (ICLR) Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Icon Plc (NASDAQ:ICLR) from a buy rating to a hold rating in a report published 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. “
ICLR has been the subject of several other research reports. Jefferies Group LLC reaffirmed a buy rating and set a $122.00 price target on shares of Icon Plc in a research note on Tuesday, September 12th. Bank of America Corporation began coverage on shares of Icon Plc in a research note on Monday, September 11th. They set a buy rating and a $128.00 price target for the company. ValuEngine raised shares of Icon Plc from a hold rating to a buy rating in a research note on Friday, September 1st. Credit Suisse Group reaffirmed a buy rating on shares of Icon Plc in a research note on Friday, July 28th. Finally, BidaskClub raised shares of Icon Plc from a buy rating to a strong-buy rating in a research note on Tuesday, August 22nd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $113.00.
Icon Plc (ICLR) traded down 0.64% on Friday, reaching $110.97. The company’s stock had a trading volume of 227,723 shares. The firm has a 50-day moving average of $108.70 and a 200-day moving average of $93.99. The company has a market capitalization of $6.00 billion, a PE ratio of 22.51 and a beta of 0.61. Icon Plc has a one year low of $73.76 and a one year high of $117.53.
Icon Plc (NASDAQ:ICLR) last announced its earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.01. Icon Plc had a return on equity of 28.72% and a net margin of 15.97%. The business had revenue of $431.00 million during the quarter, compared to analyst estimates of $430.68 million. During the same quarter in the previous year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts predict that Icon Plc will post $5.32 EPS for the current year.
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A number of large investors have recently modified their holdings of the stock. WCM Investment Management CA raised its stake 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 worth $387,747,000 after buying an additional 252,853 shares in the last quarter. Wellington Management Group LLP raised its stake 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 worth $286,687,000 after buying an additional 17,609 shares in the last quarter. FMR LLC raised its stake 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 worth $224,037,000 after buying an additional 635,950 shares in the last quarter. Wasatch Advisors Inc. raised its stake 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 worth $180,935,000 after buying an additional 13,104 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Icon Plc by 45.2% in the first quarter. Clearbridge Investments LLC now owns 1,594,656 shares of the medical research company’s stock worth $127,126,000 after buying an additional 496,700 shares in the last quarter. 90.61% of the stock is owned by 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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