Icon Plc (NASDAQ:ICLR) Stock Rating Reaffirmed by Jefferies Group LLC

Icon Plc (NASDAQ:ICLR)‘s stock had its “buy” rating restated by equities researchers at Jefferies Group LLC in a research note issued to investors on Sunday, July 30th. Jefferies Group also issued estimates for Icon Plc’s Q3 2017 earnings at $1.30 EPS, Q4 2017 earnings at $1.39 EPS, FY2017 earnings at $5.29 EPS, Q1 2018 earnings at $1.38 EPS, Q2 2018 earnings at $1.45 EPS, Q3 2018 earnings at $1.46 EPS, Q4 2018 earnings at $1.53 EPS, FY2018 earnings at $5.82 EPS and FY2019 earnings at $6.41 EPS.

A number of other research analysts have also issued reports on the stock. Goldman Sachs Group, Inc. (The) upgraded shares of Icon Plc from a “buy” rating to a “conviction-buy” rating and set a $117.00 price target on the stock in a research note on Friday, July 7th. Credit Suisse Group reissued an “outperform” rating and set a $102.00 price objective (up previously from $91.00) on shares of Icon Plc in a report on Tuesday, June 6th. Zacks Investment Research raised shares of Icon Plc from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Tuesday, June 27th. BidaskClub raised shares of Icon Plc from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Finally, Robert W. Baird decreased their price objective on shares of Icon Plc from $107.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 9th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $108.38.

Icon Plc (NASDAQ:ICLR) traded down 0.19% during midday trading on Friday, hitting $104.99. 208,371 shares of the stock traded hands. Icon Plc has a one year low of $73.76 and a one year high of $109.32. The company’s 50 day moving average is $101.46 and its 200-day moving average is $89.84. The company has a market cap of $5.67 billion, a P/E ratio of 21.30 and a beta of 0.60.

Icon Plc (NASDAQ:ICLR) last issued its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. Icon Plc had a net margin of 15.97% and a return on equity of 28.72%. The business had revenue of $431 million for the quarter, compared to analyst estimates of $430.68 million. During the same period in the previous year, the business posted $1.14 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts forecast that Icon Plc will post $5.32 EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in ICLR. IHT Wealth Management LLC increased its position in shares of Icon Plc by 16.9% in the second quarter. IHT Wealth Management LLC now owns 166 shares of the medical research company’s stock valued at $223,000 after buying an additional 24 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Icon Plc during the second quarter valued at approximately $103,000. Acrospire Investment Management LLC raised its position in shares of Icon Plc by 20.1% in the second quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock valued at $117,000 after buying an additional 200 shares during the period. Parallel Advisors LLC raised its position in shares of Icon Plc by 20.7% in the second quarter. Parallel Advisors LLC now owns 1,265 shares of the medical research company’s stock valued at $133,000 after buying an additional 217 shares during the period. Finally, Huntington National Bank raised its position in shares of Icon Plc by 5.0% in the second quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock valued at $159,000 after buying an additional 77 shares during the period. 91.65% of the stock is currently owned by institutional investors and hedge funds.

Icon Plc Company Profile

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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