Icon (NASDAQ:ICLR) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Icon (NASDAQ:ICLR) from a buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

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. “

Several other research firms have also recently commented on ICLR. BidaskClub raised shares of Icon from a hold rating to a buy rating in a research note on Wednesday, November 27th. UBS Group set a $160.00 target price on shares of Icon and gave the stock a hold rating in a research report on Friday, October 25th. Credit Suisse Group reaffirmed a buy rating and set a $160.00 target price on shares of Icon in a research report on Monday, October 28th. Finally, ValuEngine lowered shares of Icon from a buy rating to a hold rating in a research report on Wednesday, September 11th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $165.13.

Shares of NASDAQ ICLR opened at $161.73 on Wednesday. Icon has a 1 year low of $118.10 and a 1 year high of $165.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $8.70 billion, a P/E ratio of 25.71, a P/E/G ratio of 2.18 and a beta of 0.71. The company has a 50 day simple moving average of $154.33 and a 200-day simple moving average of $151.16.

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 Zacks’ consensus estimate of $1.74. The company had revenue of $710.40 million for the quarter, compared to the consensus estimate of $709.75 million. Icon had a net margin of 13.16% and a return on equity of 24.86%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $1.54 EPS. As a group, research analysts expect that Icon will post 6.89 EPS for the current year.

A number of institutional investors have recently made changes to their positions in ICLR. Quest Capital Management Inc. ADV bought a new stake in Icon in the 3rd quarter valued at $35,000. SRS Capital Advisors Inc. bought a new stake in Icon in the 2nd quarter valued at $47,000. UBS Asset Management Americas Inc. increased its holdings in Icon by 30.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 326 shares of the medical research company’s stock valued at $50,000 after buying an additional 77 shares during the period. FTB Advisors Inc. increased its holdings in Icon by 27.6% in the 3rd quarter. FTB Advisors Inc. now owns 361 shares of the medical research company’s stock valued at $52,000 after buying an additional 78 shares during the period. Finally, CWM LLC increased its holdings in Icon by 65.0% in the 3rd quarter. CWM LLC now owns 386 shares of the medical research company’s stock valued at $57,000 after buying an additional 152 shares during the period. 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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