Independent Portfolio Consultants Inc. cut its position in shares of Icon Plc (NASDAQ:ICLR) by 30.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 3,481 shares of the medical research company’s stock after selling 1,491 shares during the period. Independent Portfolio Consultants Inc.’s holdings in Icon Plc were worth $340,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of ICLR. Legato Capital Management LLC boosted its stake in 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 worth $76,247,000 after buying an additional 6,002,164 shares during the period. WCM Investment Management CA boosted its stake in Icon Plc by 5.1% in the first quarter. WCM Investment Management CA now owns 3,712,253 shares of the medical research company’s stock worth $295,941,000 after buying an additional 180,896 shares during the period. Wellington Management Group LLP boosted its stake in Icon Plc by 0.5% in the first quarter. Wellington Management Group LLP now owns 3,596,168 shares of the medical research company’s stock worth $286,687,000 after buying an additional 17,609 shares during the period. Alliancebernstein L.P. boosted its stake in Icon Plc by 6.4% in the first quarter. Alliancebernstein L.P. now owns 2,987,617 shares of the medical research company’s stock worth $238,173,000 after buying an additional 178,995 shares during the period. Finally, FMR LLC boosted its stake in Icon Plc by 9.2% in the first quarter. FMR LLC now owns 1,655,055 shares of the medical research company’s stock worth $131,941,000 after buying an additional 139,222 shares during the period. Institutional investors and hedge funds own 92.75% of the company’s stock.
Icon Plc (ICLR) opened at 98.24 on Monday. Icon Plc has a 52-week low of $70.06 and a 52-week high of $100.86. The firm’s 50-day moving average price is $93.54 and its 200 day moving average price is $84.14. The company has a market cap of $5.28 billion, a PE ratio of 20.39 and a beta of 0.59.
Icon Plc (NASDAQ:ICLR) last issued its earnings results on Thursday, April 27th. The medical research company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.02. Icon Plc had a return on equity of 28.89% and a net margin of 16.15%. The firm had revenue of $432 million for the quarter, compared to analyst estimates of $432.21 million. During the same period in the previous year, the company posted $1.12 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that Icon Plc will post $5.17 EPS for the current fiscal year.
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ICLR has been the topic of a number of research analyst reports. Zacks Investment Research cut Icon Plc from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. ValuEngine cut Icon Plc from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Jefferies Group LLC upgraded Icon Plc from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $117.00 in a research note on Thursday, June 29th. Mizuho initiated coverage on Icon Plc in a research note on Thursday, March 23rd. They issued a “neutral” rating and a $66.00 price target on the stock. Finally, BidaskClub upgraded Icon Plc from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $96.00.
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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