Zacks Investment Research Downgrades Icon (ICLR) to Hold
Icon (NASDAQ:ICLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday. They currently have a $128.00 price objective on the medical research company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.37% from the company’s current price.
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 topic of several other reports. Jefferies Group reaffirmed a “buy” rating and set a $122.00 target price on shares of Icon in a report on Tuesday, September 12th. ValuEngine downgraded Icon from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Barclays lifted their target price on Icon from $108.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. Bank of America began coverage on Icon in a report on Monday, September 11th. They set a “buy” rating and a $128.00 target price on the stock. Finally, KeyCorp reaffirmed an “overweight” rating and set a $125.00 target price (up from $115.00) on shares of Icon in a report on Monday, November 13th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $121.00.
Icon (NASDAQ:ICLR) last announced its earnings results on Thursday, October 26th. The medical research company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.03. The firm had revenue of $440.30 million for the quarter, compared to the consensus estimate of $438.09 million. Icon had a return on equity of 28.42% and a net margin of 16.37%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 EPS. equities research analysts forecast that Icon will post 5.37 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the company. Acrospire Investment Management LLC lifted its stake in shares of Icon by 20.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock valued at $117,000 after purchasing an additional 200 shares during the period. SG Americas Securities LLC acquired a new position in shares of Icon in the 3rd quarter valued at about $148,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Icon in the 2nd quarter valued at about $208,000. Commonwealth Equity Services Inc acquired a new position in shares of Icon in the 3rd quarter valued at about $208,000. Finally, Holderness Investments Co. acquired a new position in shares of Icon in the 3rd quarter valued at about $216,000. 89.66% of the stock is currently owned by institutional investors.
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Icon Company Profile
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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