BidaskClub upgraded shares of Icon (NASDAQ:ICLR) from a hold rating to a buy rating in a research note released on Friday morning, BidAskClub reports.
Several other research analysts have also issued reports on ICLR. UBS Group set a $160.00 price target on shares of Icon and gave the stock a hold rating in a research report on Friday, October 25th. Zacks Investment Research raised shares of Icon from a hold rating to a buy rating and set a $191.00 price target for the company in a research report on Wednesday, December 25th. Credit Suisse Group reissued a buy rating and issued a $160.00 price target on shares of Icon in a research report on Monday, October 28th. Citigroup initiated coverage on shares of Icon in a research report on Monday, January 6th. They issued a neutral rating and a $185.00 price target for the company. Finally, Wells Fargo & Co assumed coverage on shares of Icon in a research report on Tuesday, January 7th. They issued an equal weight rating and a $180.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Icon currently has an average rating of Buy and an average target price of $169.56.
NASDAQ:ICLR opened at $175.78 on Friday. Icon has a 12-month low of $127.58 and a 12-month high of $176.30. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $9.49 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.12 and a beta of 0.70. The firm has a 50-day moving average price of $167.92 and a 200 day moving average price of $155.99.
Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $1.74 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.74. Icon had a net margin of 13.16% and a return on equity of 24.86%. The firm had revenue of $710.40 million during the quarter, compared to analyst estimates of $709.75 million. During the same quarter in the prior year, the business posted $1.54 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, research analysts expect that Icon will post 6.89 EPS for the current year.
A number of institutional investors have recently modified their holdings of ICLR. Invesco Ltd. grew its stake in Icon by 6,790.7% during the second quarter. Invesco Ltd. now owns 536,782 shares of the medical research company’s stock worth $82,648,000 after buying an additional 528,992 shares during the last quarter. Comgest Global Investors S.A.S. grew its stake in Icon by 51.7% during the third quarter. Comgest Global Investors S.A.S. now owns 1,524,903 shares of the medical research company’s stock worth $224,680,000 after buying an additional 519,534 shares during the last quarter. SPF Beheer BV bought a new stake in Icon during the third quarter worth about $76,360,000. WCM Investment Management LLC grew its stake in Icon by 6.0% during the third quarter. WCM Investment Management LLC now owns 3,595,030 shares of the medical research company’s stock worth $529,691,000 after buying an additional 203,734 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Icon by 5.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,391,700 shares of the medical research company’s stock worth $205,052,000 after buying an additional 70,921 shares during the last quarter. 85.82% 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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