Icon Plc (ICLR) Earns “Buy” Rating from Robert W. Baird

Icon Plc (ICLR) Earns “Buy” Rating from Robert W. Baird

Icon Plc (NASDAQ:ICLR)‘s stock had its “buy” rating restated by stock analysts at Robert W. Baird in a research note issued to investors on Thursday. They presently have a $123.00 price objective on the medical research company’s stock. Robert W. Baird’s target price indicates a potential upside of 6.15% from the company’s current price.

Several other research analysts also recently weighed in on ICLR. BidaskClub downgraded Icon Plc from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Jefferies Group LLC upgraded Icon Plc from a “hold” rating to a “buy” rating and boosted their price target for the company from $86.00 to $117.00 in a report on Thursday, June 29th. Goldman Sachs Group, Inc. (The) upgraded Icon Plc from a “buy” rating to a “conviction-buy” rating and set a $117.00 price target for the company in a report on Friday, July 7th. Mizuho boosted their price target on Icon Plc from $104.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, July 27th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Icon Plc in a report on Friday, July 28th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $117.33.

Icon Plc (ICLR) traded down 0.48% during midday trading on Thursday, hitting $115.31. The company had a trading volume of 156,692 shares. The stock has a market cap of $6.23 billion, a PE ratio of 23.39 and a beta of 0.59. Icon Plc has a 52-week low of $73.76 and a 52-week high of $117.53. The stock’s 50-day moving average price is $112.63 and its 200-day moving average price is $97.70.

Icon Plc (NASDAQ:ICLR) last issued its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.01. The company had revenue of $431.00 million during the quarter, compared to the consensus estimate of $430.68 million. Icon Plc had a return on equity of 28.72% and a net margin of 15.97%. Icon Plc’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. On average, equities research analysts expect that Icon Plc will post $5.32 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in ICLR. Renaissance Technologies LLC grew its stake in shares of Icon Plc by 252.6% during the 1st quarter. Renaissance Technologies LLC now owns 955,860 shares of the medical research company’s stock valued at $76,201,000 after buying an additional 684,760 shares during the period. Koch Industries Inc. grew its stake in shares of Icon Plc by 17,508.8% during the 2nd quarter. Koch Industries Inc. now owns 666,140 shares of the medical research company’s stock valued at $659,000 after buying an additional 662,357 shares during the period. FMR LLC grew its stake in shares of Icon Plc by 38.4% during the 2nd quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock valued at $224,037,000 after buying an additional 635,950 shares during the period. Clearbridge Investments LLC grew its stake in shares of Icon Plc by 45.2% during the 1st quarter. Clearbridge Investments LLC now owns 1,594,656 shares of the medical research company’s stock valued at $127,126,000 after buying an additional 496,700 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Icon Plc by 48.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,068,159 shares of the medical research company’s stock valued at $104,488,000 after buying an additional 348,292 shares during the period. 91.53% of the stock is owned by institutional investors.

About Icon Plc

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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