ICON PLC (NASDAQ:ICLR) – Investment analysts at SunTrust Banks upped their FY2016 earnings per share estimates for ICON PLC in a note issued to investors on Thursday. SunTrust Banks analyst S. Draper now anticipates that the firm will post earnings per share of $4.74 for the year, up from their prior forecast of $4.73. SunTrust Banks currently has a “Hold” rating and a $80.00 target price on the stock. SunTrust Banks also issued estimates for ICON PLC’s Q1 2017 earnings at $1.38 EPS.

Several other analysts also recently issued reports on the company. Evercore ISI upgraded ICON PLC from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $81.50 to $89.00 in a report on Friday, October 14th. Zacks Investment Research downgraded ICON PLC from a “hold” rating to a “sell” rating in a report on Tuesday, December 27th. Avondale Partners upgraded ICON PLC from an “underperform” rating to a “market perform” rating in a report on Thursday, October 20th. Jefferies Group restated a “hold” rating and set a $87.50 price objective (up previously from $80.00) on shares of ICON PLC in a report on Monday, October 24th. Finally, Goldman Sachs Group, Inc. (The) upgraded ICON PLC from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $90.00 in a report on Friday, December 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $81.89.

Earnings History and Estimates for ICON PLC (NASDAQ:ICLR)

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ICON PLC (NASDAQ:ICLR) traded down 0.87% on Friday, reaching $82.78. 176,718 shares of the company traded hands. ICON PLC has a 52-week low of $62.31 and a 52-week high of $85.74. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 18.55 and a beta of 0.67. The firm has a 50 day moving average price of $75.99 and a 200 day moving average price of $75.88.

ICON PLC (NASDAQ:ICLR) last released its earnings results on Thursday, October 20th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.01. ICON PLC had a net margin of 15.60% and a return on equity of 29.47%. The business had revenue of $420.20 million for the quarter, compared to analysts’ expectations of $420.14 million. During the same period last year, the company earned $1.02 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in ICON PLC during the second quarter valued at $8,622,000. GW&K Investment Management LLC acquired a new position in ICON PLC during the second quarter valued at $284,000. Cambiar Investors LLC boosted its position in ICON PLC by 15.6% in the second quarter. Cambiar Investors LLC now owns 5,015 shares of the company’s stock valued at $351,000 after buying an additional 675 shares during the period. Premier Fund Managers Ltd acquired a new position in ICON PLC during the second quarter valued at $2,890,000. Finally, Tealwood Asset Management Inc. acquired a new position in ICON PLC during the second quarter valued at $1,931,000. 91.51% of the stock is currently owned by institutional investors.

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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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