Macquarie Group Ltd. cut its position in Icon Plc (NASDAQ:ICLR) by 25.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,761 shares of the medical research company’s stock after selling 88,140 shares during the quarter. Macquarie Group Ltd. owned 0.47% of Icon worth $28,684,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. WCM Investment Management CA boosted its stake in shares of Icon by 5.8% in the fourth quarter. WCM Investment Management CA now owns 4,281,211 shares of the medical research company’s stock valued at $480,138,000 after purchasing an additional 233,990 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Icon by 1.0% in the fourth quarter. Alliancebernstein L.P. now owns 2,560,367 shares of the medical research company’s stock valued at $287,145,000 after purchasing an additional 24,571 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Icon by 1.0% in the fourth quarter. Clearbridge Investments LLC now owns 1,897,429 shares of the medical research company’s stock valued at $212,797,000 after purchasing an additional 18,041 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Icon by 37.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,817,307 shares of the medical research company’s stock valued at $203,811,000 after purchasing an additional 495,247 shares during the period. Finally, Boston Partners boosted its stake in shares of Icon by 0.5% in the fourth quarter. Boston Partners now owns 1,111,725 shares of the medical research company’s stock valued at $124,680,000 after purchasing an additional 5,314 shares during the period. Institutional investors and hedge funds own 90.59% of the company’s stock.
Icon Plc (ICLR) opened at $117.82 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.95 and a quick ratio of 1.95. Icon Plc has a 52-week low of $76.46 and a 52-week high of $124.65. The stock has a market cap of $6,472.96, a PE ratio of 22.97, a PEG ratio of 1.70 and a beta of 0.45.
Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Thursday, February 15th. The medical research company reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.02. Icon had a net margin of 16.01% and a return on equity of 27.55%. The company had revenue of $455.10 million for the quarter, compared to the consensus estimate of $455.66 million. During the same period last year, the firm posted $1.33 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. research analysts anticipate that Icon Plc will post 6.02 earnings per share for the current year.
ICLR has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Icon from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub upgraded shares of Icon from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. KeyCorp reiterated a “buy” rating and set a $130.00 price objective on shares of Icon in a research note on Thursday, January 11th. Mizuho set a $109.00 price objective on shares of Icon and gave the company a “hold” rating in a research note on Wednesday, January 24th. Finally, SunTrust Banks reiterated a “buy” rating and set a $133.00 price objective on shares of Icon in a research note on Monday, January 22nd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Icon currently has an average rating of “Buy” and a consensus price target of $126.00.
COPYRIGHT VIOLATION WARNING: “Macquarie Group Ltd. Has $28.68 Million Stake in Icon Plc (ICLR)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://ledgergazette.com/2018/03/23/macquarie-group-ltd-has-28-68-million-stake-in-icon-plc-iclr.html.
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.
Want to see what other hedge funds are holding ICLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Icon Plc (NASDAQ:ICLR).
Receive News & Ratings for Icon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Icon and related companies with MarketBeat.com's FREE daily email newsletter.