Revenue Update on ICON PLC(NASDAQ:ICLR)

ICON PLC(NASDAQ:ICLR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $410.63M. Analysts estimated a revenue of $410.11M. Earnings per share were $1.14. Analysts had estimated an EPS of $1.14.

In a different note, Credit Suisse said it Initiates Coverage on ICON PLC, according to a research note issued on Jun 21, 2016. The shares have been rated ‘Outperform’ by the firm. On Jun 8, 2016, Avondale Partners said it Downgrades its rating on ICON PLC. In the research note, the firm Lowers the price-target to $70.00 per share. The shares have been rated ‘Market Underperform’ by the firm. On Jun 3, 2016, Jefferies said it Downgrades its rating on ICON PLC. The shares have been rated ‘Hold’ by the firm.

ICON PLC (ICLR) shares turned negative on Fridays trading session with the shares closing down -1.02 points or -1.30% at a volume of 8,89,539. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $77.78. The peak price level was also seen at $77.78 while the days lowest was $75.17. Finally the shares closed at $77.67. The 52-week high of the shares is $84.14 while the 52-week low is $62.31. According to the latest information available, the market cap of the company is $4,308 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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