Icon (ICLR) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Icon (NASDAQ:ICLR) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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. “

Several other equities research analysts have also weighed in on the company. Evercore ISI raised Icon from an in-line rating to an outperform rating in a research report on Friday, October 26th. Goldman Sachs Group lowered Icon from a conviction-buy rating to a buy rating and set a $168.00 price target on the stock. in a research report on Friday, December 14th. UBS Group assumed coverage on Icon in a research report on Tuesday, October 9th. They set a sell rating and a $145.00 price target on the stock. Robert W. Baird lifted their price target on Icon from $154.00 to $157.00 and gave the stock an outperform rating in a research report on Tuesday, September 11th. Finally, BidaskClub raised Icon from a buy rating to a strong-buy rating in a research report on Tuesday, September 25th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. Icon currently has an average rating of Buy and an average target price of $150.00.

Shares of NASDAQ ICLR opened at $135.25 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.26. Icon has a fifty-two week low of $101.22 and a fifty-two week high of $155.33. The stock has a market cap of $7.17 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.69 and a beta of 0.67.

Icon (NASDAQ:ICLR) last issued its earnings results on Wednesday, October 24th. The medical research company reported $1.54 earnings per share for the quarter, hitting the consensus estimate of $1.54. Icon had a return on equity of 26.08% and a net margin of 12.88%. The business had revenue of $655.02 million for the quarter, compared to analyst estimates of $654.66 million. Equities analysts forecast that Icon will post 6.08 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group increased its position in Icon by 75.5% during the third quarter. Rehmann Capital Advisory Group now owns 416 shares of the medical research company’s stock worth $64,000 after buying an additional 179 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Icon by 119.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 769 shares of the medical research company’s stock valued at $113,000 after purchasing an additional 419 shares during the period. Capital Advisors Ltd. LLC acquired a new position in shares of Icon in the third quarter valued at approximately $121,000. Csenge Advisory Group acquired a new position in shares of Icon in the third quarter valued at approximately $150,000. Finally, Prudential Financial Inc. acquired a new position in shares of Icon in the third quarter valued at approximately $200,000. 86.42% of the stock is currently owned by 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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