Icon Plc (NASDAQ:ICLR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 topic of several other reports. ValuEngine upgraded Icon Plc from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group LLC upgraded Icon Plc from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $117.00 in a research note on Thursday, June 29th. BidaskClub upgraded Icon Plc from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. KeyCorp reiterated an “overweight” rating on shares of Icon Plc in a research note on Monday, July 31st. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Icon Plc in a research note on Friday, July 28th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $114.11.
Icon Plc (ICLR) opened at 114.01 on Wednesday. The company has a market cap of $6.16 billion, a P/E ratio of 23.13 and a beta of 0.59. Icon Plc has a 12-month low of $73.76 and a 12-month high of $117.53. The firm’s 50-day moving average price is $112.41 and its 200-day moving average price is $97.57.
Icon Plc (NASDAQ:ICLR) last issued its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $431.00 million for the quarter, compared to analyst estimates of $430.68 million. During the same period in the previous year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts expect that Icon Plc will post $5.32 EPS for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. IHT Wealth Management LLC boosted its holdings in shares of Icon Plc by 16.9% in the 2nd quarter. IHT Wealth Management LLC now owns 166 shares of the medical research company’s stock worth $223,000 after acquiring an additional 24 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Icon Plc in the 2nd quarter worth approximately $103,000. Acrospire Investment Management LLC boosted its holdings in shares of Icon Plc by 20.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock worth $117,000 after acquiring an additional 200 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Icon Plc by 20.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,265 shares of the medical research company’s stock worth $133,000 after acquiring an additional 217 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in shares of Icon Plc by 5.0% in the 2nd quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock worth $159,000 after acquiring an additional 77 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.
About Icon Plc
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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