ValuEngine upgraded shares of Icon (NASDAQ:ICLR) from a hold rating to a buy rating in a research note released on Sunday.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research raised Icon from a hold rating to a buy rating and set a $127.00 price target for the company in a research note on Wednesday, December 27th. KeyCorp reissued an overweight rating and set a $125.00 price target (up from $115.00) on shares of Icon in a research note on Monday, November 13th. They noted that the move was a valuation call. SunTrust Banks reissued a buy rating and set a $138.00 price target on shares of Icon in a research note on Sunday, October 29th. Barclays raised their price target on Icon from $108.00 to $120.00 and gave the stock an equal weight rating in a research note on Friday, October 27th. Finally, Credit Suisse Group reissued an outperform rating and set a $120.00 price target (up from $105.00) on shares of Icon in a research note on Monday, October 16th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Icon currently has a consensus rating of Buy and an average price target of $121.00.
Shares of Icon (NASDAQ:ICLR) traded down $0.11 during mid-day trading on Friday, hitting $113.91. The company had a trading volume of 181,229 shares, compared to its average volume of 283,550. Icon has a 52-week low of $74.51 and a 52-week high of $124.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $6,160.00, a price-to-earnings ratio of 22.12, a P/E/G ratio of 1.59 and a beta of 0.61.
Icon (NASDAQ:ICLR) last issued its quarterly earnings results on Thursday, October 26th. The medical research company reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.03. Icon had a return on equity of 28.42% and a net margin of 16.37%. The firm had revenue of $440.30 million during the quarter, compared to analyst estimates of $438.09 million. During the same period last year, the company earned $1.19 EPS. Icon’s quarterly revenue was up 4.8% compared to the same quarter last year. equities research analysts anticipate that Icon will post 5.37 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of ICLR. Atlantic Trust Group LLC bought a new position in shares of Icon in the 3rd quarter worth $9,515,000. Fieldpoint Private Securities LLC bought a new position in shares of Icon in the 3rd quarter worth $330,000. Insight Capital Research & Management Inc. bought a new position in shares of Icon in the 3rd quarter worth $1,359,000. Janney Montgomery Scott LLC raised its position in shares of Icon by 11.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 12,237 shares of the medical research company’s stock worth $1,394,000 after acquiring an additional 1,222 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of Icon by 92.8% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 9,339 shares of the medical research company’s stock worth $1,064,000 after acquiring an additional 4,495 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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