Platinum Investment Management Ltd. trimmed its position in shares of Icon Plc (NASDAQ:ICLR) by 17.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,500 shares of the medical research company’s stock after selling 4,000 shares during the period. Platinum Investment Management Ltd.’s holdings in Icon were worth $2,220,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WCM Investment Management CA raised its position in Icon by 2.1% in the third quarter. WCM Investment Management CA now owns 4,047,221 shares of the medical research company’s stock worth $460,897,000 after purchasing an additional 82,115 shares in the last quarter. FMR LLC increased its holdings in shares of Icon by 38.4% during the second quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock worth $224,037,000 after buying an additional 635,950 shares in the last quarter. Wasatch Advisors Inc. increased its holdings in shares of Icon by 0.7% during the second quarter. Wasatch Advisors Inc. now owns 1,850,244 shares of the medical research company’s stock worth $180,935,000 after buying an additional 13,104 shares in the last quarter. Boston Partners increased its holdings in shares of Icon by 3.4% during the second quarter. Boston Partners now owns 1,208,640 shares of the medical research company’s stock worth $118,193,000 after buying an additional 40,153 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Icon by 20.6% during the second quarter. Renaissance Technologies LLC now owns 1,153,160 shares of the medical research company’s stock worth $112,768,000 after buying an additional 197,300 shares in the last quarter. Institutional investors and hedge funds own 89.95% of the company’s stock.
ICLR has been the topic of several research analyst reports. Zacks Investment Research raised shares of Icon from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research note on Saturday, September 9th. Bank of America assumed coverage on shares of Icon in a research note on Monday, September 11th. They issued a “buy” rating and a $128.00 price objective on the stock. Barclays raised their price objective on shares of Icon from $108.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. ValuEngine upgraded shares of Icon from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $120.00 price target (up from $105.00) on shares of Icon in a research note on Monday, October 16th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $121.00.
Icon Plc (NASDAQ:ICLR) opened at $113.52 on Friday. The company has a market cap of $6,166.29, a P/E ratio of 21.86, a PEG ratio of 1.76 and a beta of 0.56. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.31. Icon Plc has a 12-month low of $73.76 and a 12-month high of $124.48.
Icon (NASDAQ:ICLR) last issued its earnings results on Thursday, October 26th. The medical research company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.32 by $0.03. The company had revenue of $440.30 million during the quarter, compared to analysts’ expectations of $438.09 million. Icon had a net margin of 16.37% and a return on equity of 28.42%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.19 EPS. sell-side analysts predict that Icon Plc will post 5.37 earnings per share for the current fiscal year.
Icon Company Profile
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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