ICON PLC (ICLR) Lowered to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of ICON PLC (NASDAQ:ICLR) from a buy rating to a hold rating in a research report released on Friday morning.
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. “
A number of other research firms have also recently issued reports on ICLR. Jefferies Group LLC restated a buy rating and set a $122.00 price objective on shares of ICON PLC in a report on Tuesday. Bank of America Corporation assumed coverage on ICON PLC in a report on Monday, September 11th. They set a buy rating and a $128.00 price objective for the company. ValuEngine upgraded ICON PLC from a hold rating to a buy rating in a report on Friday, September 1st. Credit Suisse Group restated a buy rating on shares of ICON PLC in a report on Friday, July 28th. Finally, BidaskClub upgraded ICON PLC from a buy rating to a strong-buy rating in a report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a hold rating, eight 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 $113.67.
Shares of ICON PLC (ICLR) traded down 0.22% during mid-day trading on Friday, reaching $111.34. The company’s stock had a trading volume of 224,663 shares. The company has a market cap of $6.02 billion, a PE ratio of 22.58 and a beta of 0.61. The company has a 50-day moving average price of $108.18 and a 200 day moving average price of $93.43. ICON PLC has a 52-week low of $73.76 and a 52-week high of $117.53.
ICON PLC (NASDAQ:ICLR) last announced its earnings results on Thursday, July 27th. The medical research company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.01. The firm had revenue of $431.00 million during the quarter, compared to analysts’ expectations of $430.68 million. ICON PLC had a return on equity of 28.72% and a net margin of 15.97%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. Equities analysts expect that ICON PLC will post $5.32 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of ICLR. Renaissance Technologies LLC raised its position in ICON PLC by 252.6% during the 1st quarter. Renaissance Technologies LLC now owns 955,860 shares of the medical research company’s stock valued at $76,201,000 after purchasing an additional 684,760 shares in the last quarter. Koch Industries Inc. raised its position in ICON PLC by 17,508.8% during the 2nd quarter. Koch Industries Inc. now owns 666,140 shares of the medical research company’s stock valued at $659,000 after purchasing an additional 662,357 shares in the last quarter. FMR LLC raised its position in ICON PLC by 38.4% during the 2nd quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock valued at $224,037,000 after purchasing an additional 635,950 shares in the last quarter. Clearbridge Investments LLC raised its position in ICON PLC by 45.2% during the 1st quarter. Clearbridge Investments LLC now owns 1,594,656 shares of the medical research company’s stock valued at $127,126,000 after purchasing an additional 496,700 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in ICON PLC by 48.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,068,159 shares of the medical research company’s stock valued at $104,488,000 after purchasing an additional 348,292 shares in the last quarter. 90.62% of the stock is 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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