Icon (NASDAQ:ICLR) Upgraded at UBS Group

UBS Group upgraded shares of Icon (NASDAQ:ICLR) to a hold rating in a research report report published on Wednesday,Zacks reports.

A number of other research firms have also recently commented on ICLR. Bank of America lifted their target price on shares of Icon from $125.00 to $150.00 and gave the stock an “underperform” rating in a research note on Thursday, June 25th. Robert W. Baird set a $194.00 price target on shares of Icon in a research note on Friday, July 31st. Barclays raised their price target on shares of Icon from $160.00 to $175.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Citigroup lowered their price objective on shares of Icon from $180.00 to $175.00 and set a “neutral” rating for the company in a research note on Friday, September 18th. Finally, TD Cowen boosted their price objective on shares of Icon from $164.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $172.40.

Icon Stock Up 0.1%

Shares of Icon stock opened at $162.05 on Wednesday. The firm’s 50 day moving average price is $167.28 and its 200-day moving average price is $144.54. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.23. Icon has a 52-week low of $66.57 and a 52-week high of $203.91. The company has a market cap of $12.41 billion, a P/E ratio of 38.04, a PEG ratio of 7.49 and a beta of 1.24.

Icon (NASDAQ:ICLR) last announced its earnings results on Thursday, July 30th. The medical research company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.01. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2 billion. Icon had a return on equity of 8.02% and a net margin of 3.99%.The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.26 EPS. On average, sell-side analysts predict that Icon will post 9.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ciaran Murray sold 2,677 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $164.29, for a total value of $439,804.33. Following the completion of the sale, the director directly owned 20,452 shares in the company, valued at $3,360,059.08. The trade was a 11.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Climax sold 5,005 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $175.00, for a total value of $875,875.00. Following the transaction, the director directly owned 2,087 shares of the company’s stock, valued at approximately $365,225. The trade was a 70.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,796 shares of company stock worth $3,887,139 in the last ninety days. 44.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Icon

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Abound Financial LLC acquired a new position in Icon during the fourth quarter worth about $54,000. GAMMA Investing LLC lifted its stake in Icon by 21.4% in the 2nd quarter. GAMMA Investing LLC now owns 391 shares of the medical research company’s stock worth $68,000 after purchasing an additional 69 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Icon by 308.2% during the 4th quarter. Global Retirement Partners LLC now owns 547 shares of the medical research company’s stock worth $100,000 after purchasing an additional 413 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Icon by 120.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 616 shares of the medical research company’s stock worth $107,000 after purchasing an additional 336 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Icon by 207.5% in the first quarter. Blue Trust Inc. now owns 658 shares of the medical research company’s stock valued at $73,000 after purchasing an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Company Profile

ICON plc is a global contract research and clinical development organization headquartered in Dublin, Ireland. The company provides outsourced services to pharmaceutical, biotechnology, medical device and government organizations, supporting the development and commercialization of healthcare products.

Its services span clinical trial management, clinical and regulatory consulting, data management, biostatistics, medical writing, pharmacovigilance, laboratory services, medical imaging and commercialization support.