Icon (NASDAQ:ICLR) Downgraded to Hold at BidaskClub

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BidaskClub cut shares of Icon (NASDAQ:ICLR) from a buy rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

Other equities analysts also recently issued research reports about the stock. Mizuho lifted their price target on shares of Icon from $160.00 to $170.00 and gave the company a buy rating in a report on Thursday, July 25th. Zacks Investment Research cut shares of Icon from a buy rating to a hold rating in a research note on Friday, August 2nd. UBS Group upgraded shares of Icon from a sell rating to a neutral rating and raised their price objective for the company from $135.00 to $171.00 in a research report on Friday, July 26th. Finally, KeyCorp lifted their target price on shares of Icon from $157.00 to $165.00 and gave the company an overweight rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $165.75.

NASDAQ ICLR opened at $146.89 on Friday. The stock’s 50-day moving average price is $155.53 and its 200-day moving average price is $144.70. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.28. Icon has a 52 week low of $118.10 and a 52 week high of $165.13. The company has a market capitalization of $8.40 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 2.14 and a beta of 0.63.

Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. The company had revenue of $695.14 million during the quarter, compared to the consensus estimate of $693.56 million. Icon had a return on equity of 25.02% and a net margin of 13.05%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 EPS. Research analysts anticipate that Icon will post 6.87 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of ICLR. SRS Capital Advisors Inc. bought a new position in Icon in the 2nd quarter worth approximately $47,000. UBS Asset Management Americas Inc. grew its holdings in Icon by 30.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 326 shares of the medical research company’s stock valued at $50,000 after buying an additional 77 shares in the last quarter. Coastal Capital Group Inc. purchased a new stake in Icon during the 2nd quarter valued at approximately $78,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Icon during the second quarter valued at approximately $172,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Icon by 72.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,328 shares of the medical research company’s stock valued at $201,000 after buying an additional 559 shares during the last quarter. 83.54% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Icon (NASDAQ:ICLR)

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