Icon Plc (NASDAQ:ICLR) has received an average rating of “Buy” from the twelve analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $108.00.

ICLR has been the subject of a number of analyst reports. Jefferies Group LLC upgraded shares of Icon Plc from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $117.00 in a research note on Thursday, June 29th. Goldman Sachs Group, Inc. (The) upgraded shares of Icon Plc from a “buy” rating to a “conviction-buy” rating and set a $117.00 price target for the company in a research note on Friday, July 7th. Credit Suisse Group restated an “outperform” rating and set a $102.00 price target (up previously from $91.00) on shares of Icon Plc in a research note on Tuesday, June 6th. Zacks Investment Research upgraded shares of Icon Plc from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Tuesday, June 27th. Finally, BidaskClub upgraded shares of Icon Plc from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd.

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Hedge funds have recently bought and sold shares of the company. Legato Capital Management LLC raised its stake in Icon Plc by 7,872.0% in the first quarter. Legato Capital Management LLC now owns 6,078,411 shares of the medical research company’s stock valued at $76,247,000 after buying an additional 6,002,164 shares during the last quarter. Renaissance Technologies LLC raised its stake in Icon Plc by 252.6% in the first quarter. Renaissance Technologies LLC now owns 955,860 shares of the medical research company’s stock valued at $76,201,000 after buying an additional 684,760 shares during the last quarter. FMR LLC raised its stake in Icon Plc by 38.4% in the second quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock valued at $224,037,000 after buying an additional 635,950 shares during the last quarter. Clearbridge Investments LLC raised its stake in Icon Plc by 45.2% in the first quarter. Clearbridge Investments LLC now owns 1,594,656 shares of the medical research company’s stock valued at $127,126,000 after buying an additional 496,700 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in Icon Plc by 1,580.0% in the first quarter. Baird Financial Group Inc. now owns 461,494 shares of the medical research company’s stock valued at $36,790,000 after buying an additional 434,024 shares during the last quarter. 92.55% of the stock is owned by institutional investors.

Shares of Icon Plc (NASDAQ ICLR) traded down 0.61% during mid-day trading on Friday, reaching $101.40. The company had a trading volume of 233,718 shares. Icon Plc has a 52-week low of $73.76 and a 52-week high of $109.32. The company’s 50-day moving average price is $100.50 and its 200-day moving average price is $89.05. The company has a market capitalization of $5.48 billion, a PE ratio of 20.57 and a beta of 0.60.

Icon Plc (NASDAQ:ICLR) last announced its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. The firm had revenue of $431 million during the quarter, compared to analysts’ expectations of $430.68 million. Icon Plc had a net margin of 15.97% and a return on equity of 28.72%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. On average, analysts forecast that Icon Plc will post $5.32 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Icon Plc (NASDAQ:ICLR)

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