Jefferies Group Reaffirms “Hold” Rating for Icon Plc (ICLR)

Jefferies Group reaffirmed their hold rating on shares of Icon Plc (NASDAQ:ICLR) in a research report sent to investors on Friday morning. Jefferies Group currently has a $84.00 target price on the stock, down from their previous target price of $87.50.

Several other brokerages also recently issued reports on ICLR. Zacks Investment Research downgraded shares of Icon Plc from a buy rating to a hold rating in a research report on Monday, October 24th. Avondale Partners raised shares of Icon Plc from an underperform rating to a market perform rating in a research report on Thursday, October 20th. SunTrust Banks, Inc. downgraded shares of Icon Plc from a buy rating to a hold rating and lowered their price objective for the stock from $95.00 to $80.00 in a research report on Friday, December 16th. Goldman Sachs Group, Inc. (The) raised shares of Icon Plc from a neutral rating to a buy rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Friday, December 16th. Finally, Evercore ISI raised shares of Icon Plc from a hold rating to a buy rating and increased their price objective for the stock from $81.50 to $89.00 in a research report on Friday, October 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Icon Plc currently has a consensus rating of Hold and a consensus price target of $81.89.

Analyst Recommendations for Icon Plc (NASDAQ:ICLR)

Shares of Icon Plc (NASDAQ:ICLR) traded down 0.653% on Friday, reaching $81.425. 122,906 shares of the company traded hands. The stock has a 50 day moving average of $76.00 and a 200 day moving average of $75.88. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 18.244 and a beta of 0.67. Icon Plc has a 52-week low of $62.31 and a 52-week high of $85.74.

Icon Plc (NASDAQ:ICLR) last issued its quarterly earnings data on Thursday, October 20th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.01. Icon Plc had a net margin of 15.60% and a return on equity of 29.47%. The company earned $420.20 million during the quarter, compared to the consensus estimate of $420.14 million. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, analysts expect that Icon Plc will post $4.71 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in ICLR. FineMark National Bank & Trust boosted its stake in shares of Icon Plc by 24.8% in the third quarter. FineMark National Bank & Trust now owns 1,469 shares of the company’s stock worth $114,000 after buying an additional 292 shares in the last quarter. US Bancorp DE boosted its stake in shares of Icon Plc by 4.0% in the third quarter. US Bancorp DE now owns 1,650 shares of the company’s stock worth $128,000 after buying an additional 64 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Icon Plc during the second quarter worth approximately $129,000. Societe Generale purchased a new stake in shares of Icon Plc during the second quarter worth approximately $129,000. Finally, Invictus RG boosted its stake in shares of Icon Plc by 2.2% in the second quarter. Invictus RG now owns 1,852 shares of the company’s stock worth $130,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

About Icon Plc

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.

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