BidaskClub cut shares of Icon (NASDAQ:ICLR) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday.

Several other brokerages have also recently weighed in on ICLR. Barclays lifted their price objective on shares of Icon from $108.00 to $120.00 and gave the stock an equal weight rating in a research note on Friday, October 27th. SunTrust Banks reiterated a buy rating and issued a $138.00 price objective on shares of Icon in a research note on Sunday, October 29th. Zacks Investment Research cut shares of Icon from a buy rating to a hold rating in a research note on Wednesday, November 1st. KeyCorp reiterated a buy rating and issued a $130.00 price objective on shares of Icon in a research note on Thursday, January 11th. Finally, Robert W. Baird reiterated a buy rating and issued a $123.00 price objective on shares of Icon in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $124.91.

Icon (NASDAQ:ICLR) traded up $2.02 during midday trading on Tuesday, hitting $113.97. 488,985 shares of the stock were exchanged, compared to its average volume of 300,323. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6,112.68, a PE ratio of 22.09, a PEG ratio of 1.60 and a beta of 0.56. Icon has a one year low of $76.46 and a one year high of $124.48.

Icon (NASDAQ:ICLR) last posted its earnings results on Thursday, October 26th. The medical research company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. The company had revenue of $440.30 million during the quarter, compared to analysts’ expectations of $438.09 million. Icon had a net margin of 16.37% and a return on equity of 28.42%. Icon’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 EPS. equities analysts anticipate that Icon will post 5.37 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. IHT Wealth Management LLC increased its holdings in Icon by 16.9% in the 2nd quarter. IHT Wealth Management LLC now owns 166 shares of the medical research company’s stock valued at $223,000 after buying an additional 24 shares during the period. Acrospire Investment Management LLC increased its holdings in Icon by 20.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock valued at $117,000 after buying an additional 200 shares during the period. SG Americas Securities LLC bought a new position in Icon in the 3rd quarter valued at about $148,000. Commonwealth Equity Services Inc bought a new position in Icon in the 3rd quarter valued at about $208,000. Finally, Holderness Investments Co. bought a new position in Icon in the 3rd quarter valued at about $216,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

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About Icon

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.

Analyst Recommendations for Icon (NASDAQ:ICLR)

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