ICON PLC (ICLR) Price Target Raised to $120.00
ICON PLC (NASDAQ:ICLR) had its target price upped by Barclays PLC from $108.00 to $120.00 in a report published on Friday, MarketBeat Ratings reports. They currently have an equal weight rating on the medical research company’s stock.
Several other analysts also recently issued reports on ICLR. Zacks Investment Research raised shares of ICON PLC from a hold rating to a buy rating and set a $126.00 price objective for the company in a report on Friday, September 1st. SunTrust Banks, Inc. raised shares of ICON PLC from a hold rating to a buy rating and upped their price objective for the stock from $93.00 to $126.00 in a report on Monday, July 31st. BidaskClub raised shares of ICON PLC from a buy rating to a strong-buy rating in a report on Tuesday, August 22nd. KeyCorp reaffirmed an overweight rating on shares of ICON PLC in a report on Monday, July 31st. Finally, ValuEngine downgraded shares of ICON PLC from a buy rating to a hold rating in a report on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. ICON PLC presently has an average rating of Buy and an average price target of $120.60.
Shares of ICON PLC (ICLR) opened at 118.62 on Friday. ICON PLC has a 1-year low of $73.76 and a 1-year high of $123.53. The stock has a market cap of $6.41 billion, a P/E ratio of 24.06 and a beta of 0.59. The company’s 50-day moving average is $113.96 and its 200 day moving average is $101.22.
ICON PLC (NASDAQ:ICLR) last posted its quarterly earnings data on Thursday, October 26th. The medical research company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.03. The business had revenue of $440.30 million during the quarter, compared to the consensus estimate of $438.09 million. ICON PLC had a net margin of 16.37% and a return on equity of 28.42%. ICON PLC’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 EPS. Equities research analysts anticipate that ICON PLC will post $5.34 EPS for the current year.
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A number of institutional investors have recently modified their holdings of the business. FineMark National Bank & Trust bought a new stake in ICON PLC in the 3rd quarter valued at $325,000. Canada Pension Plan Investment Board boosted its holdings in ICON PLC by 19.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 121,140 shares of the medical research company’s stock valued at $13,795,000 after purchasing an additional 20,000 shares during the period. Victory Capital Management Inc. boosted its holdings in ICON PLC by 117.2% in the 3rd quarter. Victory Capital Management Inc. now owns 154,079 shares of the medical research company’s stock valued at $17,546,000 after purchasing an additional 83,132 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in ICON PLC by 7.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 20,417 shares of the medical research company’s stock valued at $2,325,000 after purchasing an additional 1,422 shares during the period. Finally, Aperio Group LLC boosted its holdings in ICON PLC by 5.8% in the 3rd quarter. Aperio Group LLC now owns 14,958 shares of the medical research company’s stock valued at $1,703,000 after purchasing an additional 822 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.
ICON PLC Company Profile
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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