Icon (ICLR) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI started coverage on shares of Icon (NASDAQ:ICLR) in a report published on Thursday morning, Marketbeat reports. The brokerage issued an outperform rating and a $126.00 price target on the medical research company’s stock.

Several other equities analysts have also recently commented on ICLR. Zacks Investment Research cut shares of Icon from a buy rating to a hold rating in a research note on Friday, September 22nd. ValuEngine cut shares of Icon from a buy rating to a hold rating in a research note on Monday, October 2nd. Jefferies Group boosted their price objective on shares of Icon from $122.00 to $132.00 and gave the company a buy rating in a research note on Monday, October 9th. Robert W. Baird reaffirmed a buy rating and set a $123.00 price objective on shares of Icon in a research note on Thursday, October 12th. Finally, Credit Suisse Group reaffirmed an outperform rating and set a $120.00 price objective (up previously from $105.00) on shares of Icon in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Icon has an average rating of Buy and an average price target of $124.91.

Icon (NASDAQ:ICLR) traded up $2.02 during midday trading on Thursday, hitting $113.97. 488,985 shares of the stock traded hands, compared to its average volume of 267,786. Icon has a one year low of $76.46 and a one year high of $124.48. 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 company has a market capitalization of $6,270.00, a price-to-earnings ratio of 22.13, a P/E/G ratio of 1.59 and a beta of 0.61.

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

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Icon in the 3rd quarter worth approximately $148,000. Commonwealth Equity Services Inc purchased a new position in Icon in the 3rd quarter worth approximately $208,000. Holderness Investments Co. purchased a new position in Icon in the 3rd quarter worth approximately $216,000. IHT Wealth Management LLC grew its stake in Icon by 16.9% in the 2nd quarter. IHT Wealth Management LLC now owns 166 shares of the medical research company’s stock worth $223,000 after buying an additional 24 shares in the last quarter. Finally, Murphy Capital Management Inc. purchased a new position in Icon in the 3rd quarter worth approximately $239,000. 89.66% of the stock is owned by institutional investors.

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Icon 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.

Analyst Recommendations for Icon (NASDAQ:ICLR)

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