Icon PLC (NASDAQ:ICLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $87.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 12.58% 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. “
A number of other research analysts have also recently issued reports on ICLR. Jefferies Group reaffirmed a “hold” rating and issued a $78.00 price target on shares of Icon PLC in a report on Friday, June 10th. Evercore ISI raised their price target on shares of Icon PLC from $76.00 to $81.50 and gave the stock a “hold” rating in a report on Tuesday, July 26th. KeyCorp reaffirmed a “buy” rating and issued a $85.00 price target on shares of Icon PLC in a report on Wednesday, July 27th. Robert W. Baird reissued an “outperform” rating and set a $83.00 target price on shares of Icon PLC in a report on Monday, June 27th. Finally, Avondale Partners cut shares of Icon PLC from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $70.00 to $59.00 in a report on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Icon PLC presently has an average rating of “Hold” and a consensus price target of $79.31.
Icon PLC (NASDAQ:ICLR) traded down 0.01% during midday trading on Wednesday, reaching $77.28. 302,268 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $76.21 and its 200-day moving average is $71.84. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 17.86 and a beta of 0.92. Icon PLC has a 12-month low of $62.31 and a 12-month high of $79.61.
Icon PLC (NASDAQ:ICLR) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.14. The business earned $411 million during the quarter, compared to analysts’ expectations of $409.97 million. Icon PLC had a net margin of 15.70% and a return on equity of 29.89%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.95 earnings per share. On average, equities analysts forecast that Icon PLC will post $4.70 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Societe Generale purchased a new stake in Icon PLC during the second quarter valued at approximately $129,000. SG Americas Securities LLC purchased a new stake in Icon PLC during the second quarter valued at approximately $129,000. Invictus RG raised its stake in Icon PLC by 2.2% in the second quarter. Invictus RG now owns 1,852 shares of the company’s stock valued at $130,000 after buying an additional 40 shares in the last quarter. Creative Planning raised its stake in Icon PLC by 91.1% in the second quarter. Creative Planning now owns 2,073 shares of the company’s stock valued at $145,000 after buying an additional 988 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in Icon PLC during the second quarter valued at approximately $150,000. Institutional investors own 93.78% of the company’s stock.
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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