Icon PLC (NASDAQ:ICLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $87.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 14.29% 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. “
ICLR has been the subject of a number of other research reports. Jefferies Group downgraded shares of Icon PLC from a “buy” rating to a “hold” rating and cut their price objective for the company from $80.00 to $78.00 in a report on Friday, June 3rd. KeyCorp reiterated a “buy” rating and issued a $85.00 price objective on shares of Icon PLC in a report on Wednesday, July 27th. Avondale Partners cut shares of Icon PLC from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $70.00 to $59.00 in a research note on Wednesday, June 8th. Credit Suisse Group AG began coverage on shares of Icon PLC in a research note on Monday, June 20th. They issued an “outperform” rating and a $80.00 price target for the company. Finally, Robert W. Baird reissued an “outperform” rating and issued a $83.00 price target on shares of Icon PLC in a research note on Monday, June 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $79.31.
Icon PLC (NASDAQ:ICLR) opened at 76.12 on Wednesday. The company has a market cap of $4.22 billion, a P/E ratio of 17.60 and a beta of 0.92. The company has a 50-day moving average of $76.21 and a 200-day moving average of $71.87. Icon PLC has a 52 week low of $62.31 and a 52 week high of $79.61.
Icon PLC (NASDAQ:ICLR) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.14 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.14. The company earned $411 million during the quarter, compared to the consensus estimate of $409.97 million. Icon PLC had a net margin of 15.70% and a return on equity of 29.89%. Icon PLC’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, equities research analysts predict that Icon PLC will post $4.70 EPS for the current year.
Several institutional investors have recently bought and sold shares of ICLR. Societe Generale bought a new position in Icon PLC during the second quarter worth $129,000. SG Americas Securities LLC bought a new position in Icon PLC during the second quarter worth $129,000. Invictus RG boosted its position in Icon PLC by 2.2% in the second quarter. Invictus RG now owns 1,852 shares of the company’s stock worth $130,000 after buying an additional 40 shares during the last quarter. Creative Planning boosted its position in Icon PLC by 91.1% in the second quarter. Creative Planning now owns 2,073 shares of the company’s stock worth $145,000 after buying an additional 988 shares during the last quarter. Finally, J.Safra Asset Management Corp bought a new position in Icon PLC during the second quarter worth $150,000. 93.78% of the stock is 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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