Icon Plc (NASDAQ:ICLR) Receives Average Recommendation of “Moderate Buy” from Analysts

Icon Plc (NASDAQ:ICLR) has been assigned a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $205.00.

Several equities analysts have issued reports on ICLR shares. Cowen reiterated a “hold” rating on shares of Icon in a research report on Friday, October 24th. Rothschild Redb upgraded Icon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Barclays reduced their price target on shares of Icon from $190.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Friday, October 24th. UBS Group set a $220.00 price objective on shares of Icon in a report on Friday, October 24th. Finally, BMO Capital Markets began coverage on shares of Icon in a research report on Thursday, November 13th. They issued a “market perform” rating and a $175.00 price objective for the company.

Icon Trading Up 4.1%

Shares of ICLR stock opened at $164.56 on Friday. The firm has a fifty day moving average of $174.24 and a 200-day moving average of $161.45. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 3.04 and a beta of 1.22. Icon has a 52-week low of $125.10 and a 52-week high of $228.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06.

Icon (NASDAQ:ICLR) last issued its earnings results on Wednesday, October 22nd. The medical research company reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.03. Icon had a return on equity of 10.58% and a net margin of 7.40%.The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the firm posted $3.35 EPS. Icon’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts forecast that Icon will post 13.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Icon

Hedge funds and other institutional investors have recently bought and sold shares of the business. Artisan Partners Limited Partnership grew its holdings in Icon by 67.4% during the second quarter. Artisan Partners Limited Partnership now owns 7,184,870 shares of the medical research company’s stock valued at $1,045,039,000 after purchasing an additional 2,893,946 shares during the period. Wellington Management Group LLP boosted its position in shares of Icon by 26.6% during the third quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock worth $811,499,000 after purchasing an additional 975,268 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Icon by 21.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,752,008 shares of the medical research company’s stock valued at $545,730,000 after buying an additional 650,379 shares during the period. Invesco Ltd. grew its holdings in shares of Icon by 11.1% in the 3rd quarter. Invesco Ltd. now owns 3,427,630 shares of the medical research company’s stock valued at $599,835,000 after buying an additional 341,637 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Icon by 739.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company’s stock valued at $573,526,000 after buying an additional 2,886,755 shares in the last quarter. 95.61% of the stock is owned by institutional investors.

About Icon

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company 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.