Icon Plc (NASDAQ:ICLR) Receives Average Rating of “Buy” from Analysts

Shares of Icon Plc (NASDAQ:ICLR) have received a consensus recommendation of “Buy” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $169.56.

Several equities analysts have recently commented on ICLR shares. UBS Group set a $160.00 price target on shares of Icon and gave the stock a “hold” rating in a research report on Friday, October 25th. Credit Suisse Group restated a “buy” rating and set a $160.00 price target on shares of Icon in a research report on Monday, October 28th. BidaskClub lowered shares of Icon from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded shares of Icon from a “hold” rating to a “buy” rating and set a $191.00 price target for the company in a research report on Wednesday, December 25th. Finally, Citigroup started coverage on shares of Icon in a research report on Monday, January 6th. They set a “neutral” rating and a $185.00 price target for the company.

ICLR stock traded up $0.61 during trading on Friday, hitting $168.28. 190,590 shares of the company’s stock traded hands, compared to its average volume of 234,933. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.28. Icon has a 52 week low of $127.58 and a 52 week high of $173.00. The stock has a fifty day moving average price of $165.55 and a two-hundred day moving average price of $154.94. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 2.03 and a beta of 0.70.

Icon (NASDAQ:ICLR) last released its earnings results on Wednesday, October 23rd. The medical research company reported $1.74 earnings per share for the quarter, meeting the consensus estimate of $1.74. Icon had a net margin of 13.16% and a return on equity of 24.86%. The firm had revenue of $710.40 million during the quarter, compared to analyst estimates of $709.75 million. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities research analysts expect that Icon will post 6.89 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. lifted its holdings in Icon by 2.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 24,400 shares of the medical research company’s stock worth $3,332,000 after purchasing an additional 500 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Icon by 10.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,102 shares of the medical research company’s stock worth $2,326,000 after purchasing an additional 1,434 shares during the period. LPL Financial LLC lifted its holdings in Icon by 17.6% in the second quarter. LPL Financial LLC now owns 21,288 shares of the medical research company’s stock worth $3,278,000 after purchasing an additional 3,193 shares during the period. M&T Bank Corp lifted its holdings in Icon by 4.7% in the second quarter. M&T Bank Corp now owns 24,667 shares of the medical research company’s stock worth $3,798,000 after purchasing an additional 1,109 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Icon by 53.4% in the second quarter. Bank of New York Mellon Corp now owns 442,829 shares of the medical research company’s stock worth $68,183,000 after purchasing an additional 154,142 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

About Icon

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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Analyst Recommendations for Icon (NASDAQ:ICLR)

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