ICON PLC (ICLR) is Downgraded by Jefferies to Hold

ICON PLC (ICLR) was Downgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released 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 opened for trading at $70.63 and hit $72.47 on the upside on Wednesday, eventually ending the session at $71.94, with a gain of 2.13% or 1.5 points. The heightened volatility saw the trading volume jump to 6,03,642 shares. Company has a market cap of $3,961 M.

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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