Icon (ICLR) Rating Lowered to Hold at Zacks Investment Research

Icon (NASDAQ:ICLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

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. “

A number of other equities research analysts have also recently issued reports on the company. Barclays boosted their price objective on Icon from $140.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, March 18th. Mizuho upgraded Icon from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $146.00 to $150.00 in a research note on Friday, January 25th. BidaskClub lowered Icon from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. ValuEngine raised Icon from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $161.00 target price on shares of Icon in a report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $153.20.

Shares of Icon stock opened at $137.28 on Tuesday. Icon has a 52-week low of $118.10 and a 52-week high of $155.33. The stock has a market capitalization of $7.41 billion, a P/E ratio of 21.83, a PEG ratio of 1.89 and a beta of 0.62. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, May 1st. The medical research company reported $1.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.03. Icon had a return on equity of 25.71% and a net margin of 12.56%. The business had revenue of $674.85 million for the quarter, compared to analysts’ expectations of $668.93 million. During the same period in the previous year, the business posted $1.44 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Icon will post 6.87 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. BTC Capital Management Inc. purchased a new position in Icon during the 1st quarter valued at about $204,000. BlueMountain Capital Management LLC grew its holdings in Icon by 213.2% during the 1st quarter. BlueMountain Capital Management LLC now owns 33,225 shares of the medical research company’s stock valued at $4,538,000 after buying an additional 22,617 shares in the last quarter. Covenant Partners LLC purchased a new position in Icon during the 1st quarter valued at about $542,000. Sio Capital Management LLC grew its holdings in Icon by 4.2% during the 1st quarter. Sio Capital Management LLC now owns 22,471 shares of the medical research company’s stock valued at $3,069,000 after buying an additional 905 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Icon during the 1st quarter valued at about $246,000. 87.65% of the stock is owned by institutional investors and hedge funds.

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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