BidaskClub Lowers Icon (NASDAQ:ICLR) to Hold

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

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

NASDAQ ICLR opened at $146.89 on Friday. Icon has a 1 year low of $118.10 and a 1 year high of $165.13. The stock has a market capitalization of $8.40 billion, a PE ratio of 23.35, a PEG ratio of 2.14 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.07 and a quick ratio of 2.07. The business’s 50-day moving average is $155.53 and its 200 day moving average is $144.70.

Icon (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.01. The business had revenue of $695.14 million during the quarter, compared to analyst estimates of $693.56 million. Icon had a return on equity of 25.02% and a net margin of 13.05%. Icon’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.51 EPS. As a group, equities research analysts anticipate that Icon will post 6.87 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. purchased a new stake in Icon in the second quarter worth about $47,000. UBS Asset Management Americas Inc. boosted its position in shares of Icon by 30.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 326 shares of the medical research company’s stock worth $50,000 after purchasing an additional 77 shares in the last quarter. Coastal Capital Group Inc. purchased a new stake in shares of Icon in the 2nd quarter worth approximately $78,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Icon in the 2nd quarter worth approximately $172,000. Finally, DekaBank Deutsche Girozentrale increased its position in Icon by 72.7% during the 2nd 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 in the last quarter. Institutional investors own 83.54% of the company’s stock.

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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