ICON (NASDAQ:ICLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $134.00 target price on the medical research company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.89% from the stock’s previous close.
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. “
Other equities analysts have also recently issued reports about the company. BidaskClub upgraded ICON from a “hold” rating to a “buy” rating in a research report on Wednesday, March 28th. KeyCorp reiterated a “buy” rating and issued a $130.00 price objective on shares of ICON in a report on Thursday, January 11th. ValuEngine upgraded ICON from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. SunTrust Banks reiterated a “buy” rating and issued a $133.00 price objective on shares of ICON in a report on Monday, January 22nd. Finally, Credit Suisse Group upgraded ICON to a “buy” rating and set a $131.00 price objective for the company in a report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $126.18.
Shares of NASDAQ:ICLR opened at $120.84 on Wednesday. The company has a market cap of $6,478.90, a P/E ratio of 22.42, a P/E/G ratio of 1.89 and a beta of 0.42. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.95 and a current ratio of 1.95. ICON has a 12-month low of $76.46 and a 12-month high of $124.65.
ICON (NASDAQ:ICLR) last issued its quarterly earnings results on Thursday, February 15th. The medical research company reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.02. The business had revenue of $455.10 million for the quarter, compared to analyst estimates of $455.66 million. ICON had a return on equity of 27.55% and a net margin of 16.01%. ICON’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $1.33 earnings per share. research analysts predict that ICON will post 6.02 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SPF Beheer BV bought a new position in ICON during the 4th quarter valued at approximately $92,565,000. Envestnet Asset Management Inc. raised its position in ICON by 3.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 97,053 shares of the medical research company’s stock valued at $10,885,000 after purchasing an additional 3,682 shares during the last quarter. We Are One Seven LLC bought a new position in ICON during the 4th quarter valued at approximately $252,000. Gotham Asset Management LLC bought a new position in ICON during the 4th quarter valued at approximately $209,000. Finally, Clark Capital Management Group Inc. raised its position in ICON by 12.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 124,535 shares of the medical research company’s stock valued at $13,967,000 after purchasing an additional 13,889 shares during the last quarter. 90.59% of the stock is owned by institutional investors and hedge funds.
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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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