Zacks Investment Research upgraded shares of ICON (NASDAQ:ICLR) from a sell rating to a hold rating in a research report released on Tuesday, May 8th.
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 analysts have also recently weighed in on ICLR. BidaskClub raised shares of ICON from a hold rating to a buy rating in a research note on Thursday, May 3rd. KeyCorp reissued a buy rating and set a $130.00 price target on shares of ICON in a research note on Thursday, January 11th. ValuEngine raised shares of ICON from a hold rating to a buy rating in a research note on Tuesday, February 13th. SunTrust Banks reissued a buy rating and set a $133.00 price target on shares of ICON in a research note on Monday, January 22nd. Finally, Mizuho reissued a neutral rating and set a $114.00 price target (up from $109.00) on shares of ICON in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $126.18.
Shares of ICON opened at $122.98 on Tuesday, according to MarketBeat.com. The stock has a market cap of $6.80 billion, a PE ratio of 22.81, a P/E/G ratio of 1.98 and a beta of 0.43. ICON has a 52 week low of $123.13 and a 52 week high of $124.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.85 and a quick ratio of 1.95.
ICON (NASDAQ:ICLR) last posted its earnings results on Thursday, May 3rd. The medical research company reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.01. The business had revenue of $620.13 million for the quarter, compared to analysts’ expectations of $562.61 million. ICON had a net margin of 14.80% and a return on equity of 26.56%. The firm’s revenue for the quarter was up 43.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. equities analysts predict that ICON will post 6.03 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. raised its holdings in ICON by 3,872.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 23,833 shares of the medical research company’s stock worth $2,816,000 after purchasing an additional 23,233 shares during the period. Guggenheim Capital LLC raised its holdings in ICON by 205.7% in the first quarter. Guggenheim Capital LLC now owns 21,400 shares of the medical research company’s stock worth $2,528,000 after purchasing an additional 14,400 shares during the period. LPL Financial LLC raised its holdings in ICON by 11.6% in the first quarter. LPL Financial LLC now owns 23,943 shares of the medical research company’s stock worth $2,829,000 after purchasing an additional 2,498 shares during the period. Element Capital Management LLC acquired a new stake in ICON in the first quarter worth $517,000. Finally, Barclays PLC raised its holdings in ICON by 32.3% in the first quarter. Barclays PLC now owns 69,022 shares of the medical research company’s stock worth $8,154,000 after purchasing an additional 16,844 shares during the period. Institutional investors own 92.00% of the company’s stock.
ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.
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