Icon Plc (ICLR) Receives Average Rating of “Buy” from Brokerages
Icon Plc (NASDAQ:ICLR) has been given an average recommendation of “Buy” by the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $112.86.
A number of research firms have recently issued reports on ICLR. Zacks Investment Research upgraded shares of Icon Plc from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Monday, September 18th. SunTrust Banks, Inc. raised shares of Icon Plc from a “hold” rating to a “buy” rating and increased their price objective for the stock from $93.00 to $126.00 in a report on Monday, July 31st. BidaskClub raised shares of Icon Plc from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. KeyCorp reaffirmed an “overweight” rating on shares of Icon Plc in a report on Monday, July 31st. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Icon Plc in a report on Friday, July 28th.
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Institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC increased its stake 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 buying an additional 24 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in Icon Plc during the 2nd quarter valued at about $103,000. Acrospire Investment Management LLC increased its stake 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 valued at $117,000 after buying an additional 200 shares during the period. Parallel Advisors LLC increased its stake 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 valued at $133,000 after buying an additional 217 shares during the period. Finally, Huntington National Bank increased its stake 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 buying an additional 77 shares during the period. 90.61% of the stock is currently owned by hedge funds and other institutional investors.
Icon Plc (NASDAQ ICLR) traded up 1.94% on Friday, reaching $113.88. 237,844 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $108.70 and its 200 day moving average price is $93.99. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 23.10 and a beta of 0.61. 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 results on Thursday, July 27th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $431.00 million for the quarter, compared to the consensus estimate of $430.68 million. During the same period last year, the firm posted $1.14 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts expect that Icon Plc will post $5.32 earnings per share for the current year.
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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