Icon (ICLR) Cut to “Hold” at ValuEngine

ValuEngine cut shares of Icon (NASDAQ:ICLR) from a buy rating to a hold rating in a research report released on Tuesday, ValuEngine reports.

A number of other analysts also recently issued reports on ICLR. BidaskClub downgraded shares of Icon from a strong-buy rating to a buy rating in a report on Saturday, January 5th. Zacks Investment Research downgraded shares of Icon from a hold rating to a sell rating in a report on Tuesday, January 8th. Mizuho upgraded shares of Icon from a neutral rating to a buy rating and raised their price objective for the stock from $146.00 to $150.00 in a report on Friday, January 25th. Barclays raised their price objective on shares of Icon from $130.00 to $140.00 and gave the stock an equal weight rating in a report on Thursday, February 21st. Finally, SunTrust Banks reiterated a buy rating and issued a $161.00 target price on shares of Icon in a research note on Monday, February 25th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Icon has an average rating of Hold and a consensus target price of $153.40.

NASDAQ ICLR opened at $133.19 on Tuesday. Icon has a 52-week low of $116.50 and a 52-week high of $155.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.18 and a quick ratio of 2.18. The stock has a market cap of $7.39 billion, a P/E ratio of 22.49, a P/E/G ratio of 1.71 and a beta of 0.65.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, February 20th. The medical research company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. Icon had a net margin of 12.43% and a return on equity of 26.01%. The business had revenue of $679.03 million during the quarter, compared to the consensus estimate of $675.04 million. During the same quarter last year, the company posted $1.43 earnings per share. The firm’s quarterly revenue was up 49.2% compared to the same quarter last year. On average, equities research analysts anticipate that Icon will post 6.82 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of ICLR. Pendal Group Ltd increased its stake in shares of Icon by 48,582.8% in the fourth quarter. Pendal Group Ltd now owns 1,405,471 shares of the medical research company’s stock worth $181,601,000 after purchasing an additional 1,402,584 shares in the last quarter. Norges Bank purchased a new position in shares of Icon in the fourth quarter worth about $84,127,000. WCM Investment Management LLC increased its stake in shares of Icon by 5.4% in the fourth quarter. WCM Investment Management LLC now owns 5,272,086 shares of the medical research company’s stock worth $681,207,000 after purchasing an additional 271,375 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Icon by 9.8% in the third quarter. Clearbridge Investments LLC now owns 2,211,986 shares of the medical research company’s stock worth $340,093,000 after purchasing an additional 198,271 shares in the last quarter. Finally, State of Tennessee Treasury Department purchased a new position in shares of Icon in the fourth quarter worth about $23,301,000. Hedge funds and other institutional investors own 87.79% of the company’s stock.

Icon Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Icon (NASDAQ:ICLR)

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