ICON PLC (NASDAQ:ICLR)‘s stock had its “overweight” rating reiterated by investment analysts at KeyCorp in a note issued to investors on Monday. KeyCorp also issued estimates for ICON PLC’s Q3 2017 earnings at $1.37 EPS, Q4 2017 earnings at $1.40 EPS, FY2017 earnings at $5.37 EPS and FY2018 earnings at $5.87 EPS.
Several other research firms have also recently commented on ICLR. Credit Suisse Group restated a “buy” rating on shares of ICON PLC in a research note on Friday, July 28th. Jefferies Group LLC restated a “buy” rating on shares of ICON PLC in a research note on Sunday. SunTrust Banks, Inc. upgraded ICON PLC from a “hold” rating to a “buy” rating and upped their price target for the stock from $93.00 to $126.00 in a research note on Monday. Mizuho upped their price target on ICON PLC from $104.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, July 27th. Finally, Robert W. Baird cut their price target on ICON PLC from $107.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 9th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $108.38.
ICON PLC (NASDAQ ICLR) opened at 106.09 on Monday. ICON PLC has a 12-month low of $73.76 and a 12-month high of $109.32. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 21.52 and a beta of 0.60. The stock’s 50 day moving average is $98.45 and its 200 day moving average is $87.84.
ICON PLC (NASDAQ:ICLR) last released its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 EPS for the quarter, topping 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 million during the quarter, compared to analysts’ expectations of $430.68 million. During the same quarter in the prior year, the business earned $1.14 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that ICON PLC will post $5.23 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICLR. Connable Office Inc. acquired a new position in ICON PLC during the second quarter valued at about $864,000. Canada Pension Plan Investment Board boosted its position in ICON PLC by 669.7% in the second quarter. Canada Pension Plan Investment Board now owns 101,140 shares of the medical research company’s stock valued at $9,890,000 after buying an additional 88,000 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in ICON PLC during the second quarter valued at about $103,000. IFP Advisors Inc boosted its position in ICON PLC by 3.0% in the second quarter. IFP Advisors Inc now owns 2,299 shares of the medical research company’s stock valued at $225,000 after buying an additional 67 shares during the last quarter. Finally, Harbour Capital Advisors LLC boosted its position in ICON PLC by 9,679.1% in the second quarter. Harbour Capital Advisors LLC now owns 41,561 shares of the medical research company’s stock valued at $425,000 after buying an additional 41,136 shares during the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.
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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