Icon (ICLR) Upgraded at BidaskClub

BidaskClub upgraded shares of Icon (NASDAQ:ICLR) from a buy rating to a strong-buy rating in a research report released on Tuesday, September 25th.

A number of other analysts have also recently commented on the company. Robert W. Baird boosted their price target on Icon from $154.00 to $157.00 and gave the stock an outperform rating in a research report on Tuesday, September 11th. KeyCorp boosted their price target on Icon from $152.00 to $157.00 and gave the stock an overweight rating in a research report on Tuesday, September 11th. Zacks Investment Research raised Icon from a hold rating to a buy rating and set a $163.00 price target on the stock in a research report on Thursday, August 9th. Mizuho set a $146.00 price target on Icon and gave the stock a hold rating in a research report on Monday, August 6th. Finally, SunTrust Banks boosted their price target on Icon to $153.00 and gave the stock a buy rating in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Icon currently has a consensus rating of Buy and a consensus target price of $146.10.

Icon stock opened at $144.92 on Tuesday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.28. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.21 and a beta of 0.31. Icon has a fifty-two week low of $101.22 and a fifty-two week high of $155.33.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, July 25th. The medical research company reported $1.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.17). Icon had a net margin of 13.69% and a return on equity of 26.35%. The firm had revenue of $641.60 million for the quarter, compared to the consensus estimate of $618.64 million. During the same period in the previous year, the firm posted $1.34 earnings per share. The business’s revenue was up 48.9% compared to the same quarter last year. As a group, analysts forecast that Icon will post 6.08 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in ICLR. WCM Investment Management CA raised its stake in Icon by 3.9% during the 2nd quarter. WCM Investment Management CA now owns 4,633,580 shares of the medical research company’s stock valued at $614,088,000 after buying an additional 172,080 shares during the last quarter. Partner Fund Management L.P. raised its stake in Icon by 61.1% during the 2nd quarter. Partner Fund Management L.P. now owns 432,312 shares of the medical research company’s stock valued at $57,294,000 after buying an additional 163,959 shares during the last quarter. Principal Financial Group Inc. raised its stake in Icon by 20.6% during the 1st quarter. Principal Financial Group Inc. now owns 946,806 shares of the medical research company’s stock valued at $111,856,000 after buying an additional 161,558 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Icon by 49.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 465,533 shares of the medical research company’s stock valued at $54,998,000 after buying an additional 154,094 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Icon by 3,097.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 153,202 shares of the medical research company’s stock valued at $650,000 after buying an additional 148,411 shares during the last quarter. Institutional investors and hedge funds own 87.91% 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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