Today's stock is Icon (NASDAQ:ICLR), an Irish ADR providing research services that broke out to a new all time high.
ABOUT: ICON public limited company is a contract research organization, providing clinical research and development services on a global basis to the pharmaceutical, biotechnology and medical device industries. The Company provides a range of clinical research services, which facilitates the collection, analysis and reporting of clinical trials data. The range of services includes clinical pharmacology, bioanalysis, pharmacokinetic and pharmacodynamic analysis, study protocol preparation, case report form preparation, clinical trial approvals, investigator recruitment, study monitoring and data collection, patient safety monitoring, clinical data management, biostatistical services, medical reporting, central laboratory services, interactive voice response, animal health, regulatory consultancy, strategic drug development services and digital imaging. During the year ended December 31, 2005, ICON had operations in 41 locations in 27 countries, including the United States, Europe and others.
FUNDAMENTALS: With the exception of a dip in '05, ICON is a company that posts significant earnings growth each and every year. Growth in 2006 was a record for the company as sales growth continues to accelerate. Solid growth is expected to continue.
TECHNICAL: While the stock has already had a big run over the past year, the technical action indicates there is considerable room to run. Today, following an earnings report in which the company beat estimates and guided higher, the stock broke out from a base and catapulted to a new all time high with good volume. It's a bit extended at this point, but any minor pull back would offer a real nice entry.
ICLR 1-yr chart
Disclosure: Author currently holds no position in ICLR.