ICON PLC (ICLR) is Downgraded by Avondale to Mkt Underperform

ICON PLC (ICLR) was Downgraded by Avondale to ” Mkt Underperform”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. Avondale advised their investors in a research report released on Jun 9, 2016.

Many Wall Street Analysts have commented on ICON PLC. ICON PLC was Downgraded by Jefferies to ” Hold” on Jun 3, 2016.

On the company’s financial health, ICON PLC reported $1.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.11. The company had revenue of $400.50 million for the quarter, compared to analysts expectations of $414.80 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

ICON PLC closed down -0.57 points or -0.83% at $68.43 with 3,88,096 shares getting traded on Tuesday. Post opening the session at $68.71, the shares hit an intraday low of $68.06 and an intraday high of $69.21 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

ICON public limited company (ICON) is an Ireland-based contract research organization (CRO) 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. ICON’s services include clinical trials management biometric activities consulting imaging contract staffing informatics and laboratory services. ICON also conducts various laboratory tests on the patient’s blood urine and other bodily fluids at appropriate intervals during the trial. The Company’s information systems offerings include ICONIK Firecrest iDOC iLearn ADDPLAN AptivAdvantage and AptivInsite. ICON through its subsidiaries also provides payer-validated market access solutions and clinical trial consulting and regulatory support.


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