Icon (NASDAQ:ICLR) Cut to “Hold” at ValuEngine

ValuEngine cut shares of Icon (NASDAQ:ICLR) from a buy rating to a hold rating in a research note released on Wednesday morning, ValuEngine reports.

A number of other research firms also recently issued reports on ICLR. BidaskClub downgraded Icon from a buy rating to a hold rating in a research report on Saturday, September 7th. Zacks Investment Research downgraded Icon from a buy rating to a hold rating in a research report on Friday, August 2nd. UBS Group raised Icon from a sell rating to a neutral rating and boosted their price target for the stock from $135.00 to $171.00 in a research report on Friday, July 26th. Mizuho boosted their price target on Icon from $160.00 to $170.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Finally, KeyCorp boosted their price target on Icon from $157.00 to $165.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $167.00.

Shares of Icon stock traded up $0.38 during trading on Wednesday, reaching $149.92. The stock had a trading volume of 11,872 shares, compared to its average volume of 185,529. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 2.02 and a beta of 0.63. The stock has a fifty day moving average price of $155.30 and a two-hundred day moving average price of $144.74. Icon has a 52 week low of $118.10 and a 52 week high of $165.13. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.28.

Icon (NASDAQ:ICLR) last released its earnings results on Wednesday, July 24th. The medical research company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.01. The business had revenue of $695.14 million for the quarter, compared to the consensus estimate of $693.56 million. Icon had a return on equity of 25.02% and a net margin of 13.05%. Icon’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 earnings per share. On average, equities analysts forecast that Icon will post 6.88 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Systematic Financial Management LP boosted its stake in shares of Icon by 8.1% in the first quarter. Systematic Financial Management LP now owns 10,042 shares of the medical research company’s stock valued at $1,372,000 after buying an additional 755 shares during the period. OLD National Bancorp IN raised its holdings in Icon by 44.3% in the first quarter. OLD National Bancorp IN now owns 4,059 shares of the medical research company’s stock valued at $554,000 after acquiring an additional 1,247 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in Icon in the first quarter valued at approximately $218,000. Xact Kapitalforvaltning AB acquired a new stake in Icon in the first quarter valued at approximately $601,000. Finally, Trexquant Investment LP acquired a new stake in Icon in the first quarter valued at approximately $1,308,000. 83.54% of the stock is currently owned by hedge funds and other institutional investors.

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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