Icon (NASDAQ:ICLR) Given New $158.00 Price Target at UBS Group

Icon (NASDAQ:ICLR) had its price target reduced by UBS Group from $171.00 to $158.00 in a report published on Friday, BenzingaRatingsTable reports. UBS Group currently has a neutral rating on the medical research company’s stock.

A number of other brokerages also recently commented on ICLR. Mizuho raised their target price on shares of Icon from $160.00 to $170.00 and gave the company a buy rating in a research note on Thursday, July 25th. ValuEngine downgraded shares of Icon from a buy rating to a hold rating in a research note on Wednesday, September 11th. BidaskClub downgraded shares of Icon from a buy rating to a hold rating in a research note on Monday, September 30th. Zacks Investment Research raised shares of Icon from a sell rating to a hold rating in a research note on Thursday. Finally, KeyCorp raised their target price on shares of Icon from $157.00 to $165.00 and gave the company an overweight rating in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $163.43.

Shares of ICLR traded down $0.05 during mid-day trading on Friday, reaching $141.99. The company had a trading volume of 214,758 shares, compared to its average volume of 252,543. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67. The firm has a fifty day simple moving average of $149.40 and a 200-day simple moving average of $146.82. Icon has a fifty-two week low of $118.10 and a fifty-two week high of $165.13. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.28.

Icon (NASDAQ:ICLR) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. The company had revenue of $695.14 million for the quarter, compared to analyst estimates of $693.56 million. Icon had a net margin of 13.05% and a return on equity of 25.02%. Icon’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $1.51 EPS. As a group, equities analysts predict that Icon will post 6.88 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in Icon by 1.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 193,108 shares of the medical research company’s stock worth $28,452,000 after buying an additional 2,389 shares during the period. Summit Creek Advisors LLC increased its stake in Icon by 4.1% during the 3rd quarter. Summit Creek Advisors LLC now owns 147,879 shares of the medical research company’s stock worth $21,788,000 after buying an additional 5,890 shares during the period. CIBC Private Wealth Group LLC increased its stake in Icon by 10.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 126,318 shares of the medical research company’s stock worth $18,612,000 after buying an additional 11,721 shares during the period. Cim LLC increased its stake in Icon by 2.2% during the 3rd quarter. Cim LLC now owns 5,026 shares of the medical research company’s stock worth $741,000 after buying an additional 107 shares during the period. Finally, We Are One Seven LLC increased its stake in Icon by 4.2% during the 3rd quarter. We Are One Seven LLC now owns 3,733 shares of the medical research company’s stock worth $550,000 after buying an additional 150 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

About Icon

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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Analyst Recommendations for Icon (NASDAQ:ICLR)

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