Icon (NASDAQ:ICLR) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Icon (NASDAQ:ICLR) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. They currently have $180.00 price objective on the medical research company’s stock.

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. “

ICLR has been the subject of a number of other research reports. Mizuho lifted their target price on shares of Icon from $160.00 to $170.00 and gave the stock a buy rating in a research report on Thursday, July 25th. UBS Group raised shares of Icon from a sell rating to a neutral rating and lifted their target price for the stock from $135.00 to $171.00 in a research report on Friday, July 26th. Wolfe Research began coverage on shares of Icon in a research report on Tuesday, April 2nd. They set an outperform rating for the company. BidaskClub raised shares of Icon from a hold rating to a buy rating in a research report on Saturday, July 27th. Finally, Barclays reissued a hold rating and set a $154.00 price objective on shares of Icon in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $164.75.

NASDAQ:ICLR opened at $154.41 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 2.02. Icon has a 12 month low of $118.10 and a 12 month high of $165.13. The company has a market cap of $8.33 billion, a P/E ratio of 24.55, a PEG ratio of 2.17 and a beta of 0.56. The stock has a 50 day moving average of $152.10.

Icon (NASDAQ:ICLR) last posted its earnings results on Wednesday, July 24th. The medical research company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.01. Icon had a net margin of 13.05% and a return on equity of 25.75%. The business had revenue of $695.14 million during the quarter, compared to the consensus estimate of $693.56 million. During the same quarter in the previous year, the firm posted $1.51 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. As a group, equities analysts predict that Icon will post 6.87 earnings per share for the current year.

Several hedge funds have recently modified their holdings of ICLR. Ellis Investment Partners LLC bought a new stake in shares of Icon during the 1st quarter valued at $59,000. Coastal Capital Group Inc. bought a new stake in shares of Icon during the 2nd quarter valued at $78,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Icon during the 2nd quarter valued at $172,000. DekaBank Deutsche Girozentrale grew its position in shares of Icon by 72.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,328 shares of the medical research company’s stock valued at $201,000 after acquiring an additional 559 shares during the period. Finally, First Allied Advisory Services Inc. bought a new stake in shares of Icon during the 1st quarter valued at $207,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

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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