Zacks Investment Research Downgrades Icon (NASDAQ:ICLR) to Hold

Icon (NASDAQ:ICLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, January 3rd. They presently have a $128.00 target price on the medical research company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.00% from the company’s current price.

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 also recently issued reports about the company. Jefferies Group reiterated a “buy” rating and issued a $122.00 price objective on shares of Icon in a report on Tuesday, September 12th. Bank of America initiated coverage on Icon in a report on Monday, September 11th. They issued a “buy” rating and a $128.00 price objective for the company. Robert W. Baird reiterated a “buy” rating and issued a $123.00 price objective on shares of Icon in a report on Thursday, October 12th. ValuEngine upgraded Icon from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, SunTrust Banks reiterated a “buy” rating and issued a $138.00 price objective on shares of Icon in a report on Sunday, October 29th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Icon presently has an average rating of “Buy” and a consensus target price of $121.82.

Icon (NASDAQ ICLR) traded down $1.44 on Wednesday, hitting $113.27. The stock had a trading volume of 235,981 shares, compared to its average volume of 286,422. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6,120.00, a price-to-earnings ratio of 21.99, a PEG ratio of 1.63 and a beta of 0.61. Icon has a 12-month low of $76.46 and a 12-month high of $124.48.

Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Thursday, October 26th. The medical research company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.03. Icon had a return on equity of 28.42% and a net margin of 16.37%. The firm had revenue of $440.30 million during the quarter, compared to analyst estimates of $438.09 million. During the same quarter in the previous year, the firm earned $1.19 EPS. Icon’s quarterly revenue was up 4.8% compared to the same quarter last year. equities analysts anticipate that Icon will post 5.37 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. LVM Capital Management Ltd. MI bought a new stake in shares of Icon during the 4th quarter valued at about $5,886,000. Atlantic Trust Group LLC bought a new stake in shares of Icon during the 3rd quarter valued at about $9,515,000. Fieldpoint Private Securities LLC bought a new stake in shares of Icon during the 3rd quarter valued at about $330,000. Insight Capital Research & Management Inc. bought a new stake in shares of Icon during the 3rd quarter valued at about $1,359,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Icon by 11.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 12,237 shares of the medical research company’s stock valued at $1,394,000 after purchasing an additional 1,222 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

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Icon 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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