Icon (ICLR) Cut to “Sell” at BidaskClub

BidaskClub lowered shares of Icon (NASDAQ:ICLR) from a hold rating to a sell rating in a research note issued to investors on Saturday, BidAskClub reports.

ICLR has been the subject of several other reports. Goldman Sachs Group lowered Icon from a conviction-buy rating to a buy rating and set a $168.00 price target for the company. in a research note on Friday, December 14th. Zacks Investment Research lowered Icon from a hold rating to a sell rating in a research note on Tuesday, January 8th. Mizuho upgraded Icon from a neutral rating to a buy rating and upped their price target for the stock from $146.00 to $150.00 in a research note on Friday, January 25th. Barclays upped their price target on Icon from $140.00 to $148.00 and gave the stock an equal weight rating in a research note on Monday, March 18th. Finally, Wolfe Research assumed coverage on Icon in a research note on Tuesday, April 2nd. They issued an outperform rating for the company. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Icon presently has a consensus rating of Hold and an average target price of $153.40.

NASDAQ ICLR opened at $136.97 on Friday. Icon has a twelve month low of $115.44 and a twelve month high of $155.33. The stock has a market cap of $7.42 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 1.72 and a beta of 0.65. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.26.

Icon (NASDAQ:ICLR) last released its earnings results on Wednesday, February 20th. The medical research company reported $1.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.02. The firm had revenue of $679.03 million for the quarter, compared to the consensus estimate of $675.04 million. Icon had a return on equity of 26.01% and a net margin of 12.43%. The firm’s revenue for the quarter was up 49.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 earnings per share. On average, equities analysts anticipate that Icon will post 6.82 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. WCM Investment Management LLC grew its stake in shares of Icon by 5.4% in the fourth quarter. WCM Investment Management LLC now owns 5,272,086 shares of the medical research company’s stock valued at $681,207,000 after buying an additional 271,375 shares in the last quarter. Clearbridge Investments LLC grew its stake in Icon by 9.8% during the 3rd quarter. Clearbridge Investments LLC now owns 2,211,986 shares of the medical research company’s stock valued at $340,093,000 after purchasing an additional 198,271 shares in the last quarter. Pendal Group Ltd grew its stake in Icon by 48,582.8% during the 4th quarter. Pendal Group Ltd now owns 1,405,471 shares of the medical research company’s stock valued at $181,601,000 after purchasing an additional 1,402,584 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Icon by 5.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,129,043 shares of the medical research company’s stock valued at $145,883,000 after purchasing an additional 58,724 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in Icon by 8.4% during the 4th quarter. Westfield Capital Management Co. LP now owns 698,029 shares of the medical research company’s stock valued at $90,192,000 after purchasing an additional 54,150 shares in the last quarter. Institutional investors and hedge funds own 87.79% of the company’s stock.

Icon Company Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.

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Analyst Recommendations for Icon (NASDAQ:ICLR)

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