ICON Public (NASDAQ:ICLR) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of ICON Public (NASDAQ:ICLR) from a sell rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

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 analysts have also recently commented on ICLR. Deutsche Bank Aktiengesellschaft raised their target price on ICON Public from $170.00 to $179.00 and gave the company a hold rating in a research report on Friday, October 23rd. BidaskClub upgraded ICON Public from a sell rating to a hold rating in a research report on Thursday, January 7th. Mizuho raised their target price on ICON Public from $195.00 to $217.00 and gave the company a buy rating in a research report on Friday, October 23rd. Finally, Credit Suisse Group raised their target price on ICON Public from $230.00 to $235.00 and gave the company an outperform rating in a research report on Thursday, October 22nd. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. ICON Public has an average rating of Hold and a consensus price target of $185.00.

Shares of NASDAQ ICLR opened at $210.36 on Wednesday. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. ICON Public has a 12-month low of $104.28 and a 12-month high of $216.69. The stock’s 50 day simple moving average is $197.41 and its 200 day simple moving average is $189.81.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings results on Wednesday, October 21st. The medical research company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.17. The business had revenue of $701.73 million for the quarter, compared to the consensus estimate of $664.88 million. ICON Public had a return on equity of 21.42% and a net margin of 11.95%. Equities research analysts forecast that ICON Public will post 6.45 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sowell Financial Services LLC boosted its stake in shares of ICON Public by 74.7% during the 4th quarter. Sowell Financial Services LLC now owns 255 shares of the medical research company’s stock worth $50,000 after acquiring an additional 109 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of ICON Public by 0.8% during the 3rd quarter. Captrust Financial Advisors now owns 25,591 shares of the medical research company’s stock worth $5,036,000 after acquiring an additional 197 shares in the last quarter. Globeflex Capital L P boosted its position in shares of ICON Public by 42.2% in the third quarter. Globeflex Capital L P now owns 66,292 shares of the medical research company’s stock worth $12,668,000 after buying an additional 19,676 shares during the period. Handelsbanken Fonder AB boosted its position in shares of ICON Public by 18.3% in the third quarter. Handelsbanken Fonder AB now owns 14,900 shares of the medical research company’s stock worth $2,847,000 after buying an additional 2,300 shares during the period. Finally, Williams Jones Wealth Management LLC. acquired a new stake in shares of ICON Public in the third quarter worth $219,000. 74.12% of the stock is owned by institutional investors and hedge funds.

About ICON Public

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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