Zacks Investment Research cut shares of ICON PLC (NASDAQ:ICLR) from a buy rating to a hold rating in a research report released on Thursday 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. “
ICLR has been the subject of several other reports. Credit Suisse Group reiterated an outperform rating and issued a $102.00 target price (up from $91.00) on shares of ICON PLC in a report on Tuesday, June 6th. ValuEngine cut shares of ICON PLC from a buy rating to a hold rating in a report on Wednesday, May 31st. BidaskClub upgraded shares of ICON PLC from a hold rating to a buy rating in a report on Friday, June 23rd. KeyCorp reiterated an overweight rating on shares of ICON PLC in a report on Monday, July 31st. Finally, Mizuho raised their target price on shares of ICON PLC from $104.00 to $108.00 and gave the stock a neutral rating in a report on Thursday, July 27th. Two 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’s stock. The company currently has a consensus rating of Buy and a consensus price target of $111.25.
Shares of ICON PLC (NASDAQ ICLR) traded down 1.30% during trading on Thursday, hitting $115.10. 323,918 shares of the company traded hands. The firm has a 50 day moving average price of $106.40 and a 200-day moving average price of $92.41. ICON PLC has a one year low of $73.76 and a one year high of $117.53. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 23.35 and a beta of 0.61.
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 consensus estimate of $1.30 by $0.01. ICON PLC had a net margin of 15.97% and a return on equity of 28.72%. The company had revenue of $431 million during the quarter, compared to analysts’ expectations of $430.68 million. During the same period last year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts predict that ICON PLC will post $5.32 EPS for the current year.
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Several hedge funds have recently bought and sold shares of ICLR. Shine Investment Advisory Services Inc. acquired a new stake in shares of ICON PLC during the second quarter worth approximately $103,000. Acrospire Investment Management LLC boosted its holdings in shares of ICON PLC by 20.1% during the second quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock worth $117,000 after purchasing an additional 200 shares during the period. Parallel Advisors LLC boosted its holdings in shares of ICON PLC by 20.7% during the second quarter. Parallel Advisors LLC now owns 1,265 shares of the medical research company’s stock worth $133,000 after purchasing an additional 217 shares during the period. US Bancorp DE boosted its holdings in shares of ICON PLC by 15.0% during the first quarter. US Bancorp DE now owns 1,929 shares of the medical research company’s stock worth $154,000 after purchasing an additional 251 shares during the period. Finally, Huntington National Bank boosted its holdings in shares of ICON PLC by 5.0% during the second quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock worth $159,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 90.62% 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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