Icon (ICLR) Stock Rating Upgraded by Zacks Investment Research
Icon (NASDAQ:ICLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $132.00 target price on the medical research company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 15.07% from the stock’s current price.
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. “
Several other brokerages have also recently issued reports on ICLR. Credit Suisse Group reaffirmed an “outperform” rating and issued a $120.00 target price (up from $105.00) on shares of Icon in a report on Monday, October 16th. Jefferies Group reaffirmed a “buy” rating and issued a $122.00 target price on shares of Icon in a report on Tuesday, September 12th. Bank of America began coverage on Icon in a report on Monday, September 11th. They issued a “buy” rating and a $128.00 target price on the stock. KeyCorp reaffirmed an “overweight” rating and issued a $125.00 target price (up from $115.00) on shares of Icon in a report on Monday, November 13th. They noted that the move was a valuation call. Finally, ValuEngine raised Icon from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Icon has a consensus rating of “Buy” and an average price target of $121.82.
Icon (NASDAQ:ICLR) traded down $3.10 during trading hours on Tuesday, reaching $114.71. The company’s stock had a trading volume of 247,126 shares, compared to its average volume of 292,741. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6,210.00, a PE ratio of 22.27, a PEG ratio of 1.63 and a beta of 0.61. Icon has a twelve month low of $76.46 and a twelve month high of $124.48.
Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Thursday, October 26th. The medical research company reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.03. The business had revenue of $440.30 million for the quarter, compared to analysts’ expectations of $438.09 million. Icon had a return on equity of 28.42% and a net margin of 16.37%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. research analysts forecast that Icon will post 5.37 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management CA grew its position in Icon by 2.1% in the third quarter. WCM Investment Management CA now owns 4,047,221 shares of the medical research company’s stock worth $460,897,000 after acquiring an additional 82,115 shares in the last quarter. FMR LLC grew its position in Icon by 38.4% in the second quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock worth $224,037,000 after acquiring an additional 635,950 shares in the last quarter. Wasatch Advisors Inc. grew its position in Icon by 0.7% in the second quarter. Wasatch Advisors Inc. now owns 1,850,244 shares of the medical research company’s stock worth $180,935,000 after acquiring an additional 13,104 shares in the last quarter. Renaissance Technologies LLC grew its position in Icon by 20.6% in the second quarter. Renaissance Technologies LLC now owns 1,153,160 shares of the medical research company’s stock worth $112,768,000 after acquiring an additional 197,300 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Icon by 48.4% in the second quarter. Janus Henderson Group PLC now owns 1,068,159 shares of the medical research company’s stock worth $104,488,000 after acquiring an additional 348,292 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.
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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