ICON PLC (NASDAQ:ICLR) – KeyCorp increased their Q3 2017 earnings per share (EPS) estimates for ICON PLC in a research report issued to clients and investors on Sunday. KeyCorp analyst D. Hooker now expects that the medical research company will earn $1.37 per share for the quarter, up from their previous forecast of $1.25. KeyCorp has a “Overweight” rating on the stock. KeyCorp also issued estimates for ICON PLC’s Q4 2017 earnings at $1.40 EPS, FY2017 earnings at $5.37 EPS and FY2018 earnings at $5.87 EPS.
ICLR has been the topic of a number of other reports. Credit Suisse Group restated a “buy” rating on shares of ICON PLC in a research note on Friday. Jefferies Group LLC reaffirmed a “buy” rating on shares of ICON PLC in a report on Sunday. SunTrust Banks, Inc. raised ICON PLC from a “hold” rating to a “buy” rating and lifted their target price for the company from $93.00 to $126.00 in a report on Monday. Mizuho lifted their target price on ICON PLC from $104.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, July 27th. Finally, Robert W. Baird reduced their target price on ICON PLC from $107.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 9th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $108.38.
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ICON PLC (NASDAQ:ICLR) opened at 104.95 on Tuesday. The stock has a 50 day moving average of $98.17 and a 200 day moving average of $87.67. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 21.29 and a beta of 0.59. ICON PLC has a 12 month low of $73.76 and a 12 month high of $109.32.
ICON PLC (NASDAQ:ICLR) last issued its quarterly earnings data on Thursday, July 27th. The medical research company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.01. The company had revenue of $431 million for the quarter, compared to analyst estimates of $430.68 million. ICON PLC had a net margin of 15.97% and a return on equity of 28.72%. The company’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of ICLR. Legato Capital Management LLC raised its position in shares of ICON PLC by 7,872.0% in the first quarter. Legato Capital Management LLC now owns 6,078,411 shares of the medical research company’s stock valued at $76,247,000 after buying an additional 6,002,164 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of ICON PLC by 252.6% in the first quarter. Renaissance Technologies LLC now owns 955,860 shares of the medical research company’s stock valued at $76,201,000 after buying an additional 684,760 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of ICON PLC by 45.2% in the first quarter. Clearbridge Investments LLC now owns 1,594,656 shares of the medical research company’s stock valued at $127,126,000 after buying an additional 496,700 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of ICON PLC by 1,580.0% in the first quarter. Baird Financial Group Inc. now owns 461,494 shares of the medical research company’s stock valued at $36,790,000 after buying an additional 434,024 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of ICON PLC by 166.8% in the first quarter. Point72 Asset Management L.P. now owns 369,500 shares of the medical research company’s stock valued at $29,457,000 after buying an additional 231,000 shares during the last quarter. 92.39% of the stock is owned by institutional investors.
About ICON PLC
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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