Icon (NASDAQ:ICLR) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Icon (NASDAQ:ICLR) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $168.00 target price on the medical research company’s stock.

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. “

A number of other equities research analysts have also weighed in on ICLR. Mizuho boosted their price objective on shares of Icon from $160.00 to $170.00 and gave the company a buy rating in a report on Thursday, July 25th. KeyCorp upped their price objective on shares of Icon from $157.00 to $165.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. BidaskClub downgraded shares of Icon from a buy rating to a hold rating in a research report on Saturday, September 7th. UBS Group upgraded shares of Icon from a sell rating to a neutral rating and upped their price target for the stock from $135.00 to $171.00 in a research report on Friday, July 26th. Finally, ValuEngine downgraded shares of Icon from a buy rating to a hold rating in a research report on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Icon currently has an average rating of Buy and an average target price of $165.29.



Shares of NASDAQ:ICLR opened at $153.18 on Tuesday. Icon has a 1 year low of $118.10 and a 1 year high of $165.13. The business has a 50 day simple moving average of $154.21 and a two-hundred day simple moving average of $144.96. The firm has a market capitalization of $8.13 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.07 and a quick ratio of 2.07.

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

Several large investors have recently modified their holdings of ICLR. SRS Capital Advisors Inc. purchased a new stake in shares of Icon in the second quarter valued at about $47,000. UBS Asset Management Americas Inc. raised its position in Icon by 30.9% during the second quarter. UBS Asset Management Americas Inc. now owns 326 shares of the medical research company’s stock worth $50,000 after acquiring an additional 77 shares during the last quarter. Coastal Capital Group Inc. acquired a new position in Icon during the second quarter worth about $78,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Icon in the second quarter valued at approximately $172,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Icon by 72.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,328 shares of the medical research company’s stock valued at $201,000 after buying an additional 559 shares during the last quarter. 83.37% of the stock is currently owned by institutional investors and hedge funds.

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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