Zacks Investment Research cut shares of Icon (NASDAQ:ICLR) from a hold rating to a sell rating in a report published on Tuesday morning.

According to Zacks, “ICON plc is a global full service clinical research organisation. The company provides contract clinical research services to the pharmaceutical industry worldwide. “

A number of other analysts have also weighed in on ICLR. BidaskClub lowered shares of Icon from a strong-buy rating to a buy rating in a report on Saturday, January 5th. KeyCorp boosted their price target on shares of Icon from $152.00 to $157.00 and gave the stock an overweight rating in a research note on Tuesday, September 11th. UBS Group set a $136.00 price target on shares of Icon and gave the stock a sell rating in a research note on Saturday, October 27th. Robert W. Baird boosted their price target on shares of Icon from $154.00 to $157.00 and gave the stock an outperform rating in a research note on Tuesday, September 11th. Finally, Goldman Sachs Group cut shares of Icon from a conviction-buy rating to a buy rating and set a $168.00 price target for the company. in a research note on Friday, December 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $150.00.

Icon stock traded down $1.02 during midday trading on Tuesday, reaching $134.19. 10,829 shares of the stock were exchanged, compared to its average volume of 283,374. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $7.17 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.69 and a beta of 0.67. Icon has a 52 week low of $101.22 and a 52 week high of $155.33.

Icon (NASDAQ:ICLR) last posted its earnings results on Wednesday, October 24th. The medical research company reported $1.54 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.54. The business had revenue of $655.02 million for the quarter, compared to analyst estimates of $654.66 million. Icon had a net margin of 12.88% and a return on equity of 26.08%. Research analysts forecast that Icon will post 6.08 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. WCM Investment Management CA boosted its stake in shares of Icon by 7.9% in the 3rd quarter. WCM Investment Management CA now owns 5,000,711 shares of the medical research company’s stock valued at $768,860,000 after purchasing an additional 367,131 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Icon by 9.8% in the 3rd quarter. Clearbridge Investments LLC now owns 2,211,986 shares of the medical research company’s stock valued at $340,093,000 after purchasing an additional 198,271 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Icon by 0.4% in the 3rd quarter. Acadian Asset Management LLC now owns 2,181,795 shares of the medical research company’s stock valued at $335,450,000 after purchasing an additional 8,880 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Icon by 12.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,070,319 shares of the medical research company’s stock valued at $164,561,000 after purchasing an additional 121,970 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Icon by 3.4% in the 2nd quarter. Bank of America Corp DE now owns 858,754 shares of the medical research company’s stock valued at $113,810,000 after purchasing an additional 28,162 shares in the last quarter. 86.42% of the stock is owned by institutional investors.

Icon Company Profile

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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