Earnest Partners LLC lessened its stake in Icon Plc (NASDAQ:ICLR) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,103,983 shares of the medical research company’s stock after selling 35,408 shares during the quarter. Icon accounts for about 2.9% of Earnest Partners LLC’s portfolio, making the stock its largest holding. Earnest Partners LLC’s holdings in Icon were worth $323,950,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of ICLR. Comerica Securities Inc. grew its position in shares of Icon by 52.0% in the fourth quarter. Comerica Securities Inc. now owns 2,073 shares of the medical research company’s stock valued at $268,000 after purchasing an additional 709 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Icon by 2.2% in the first quarter. Janney Montgomery Scott LLC now owns 5,958 shares of the medical research company’s stock valued at $814,000 after purchasing an additional 131 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Icon by 4.4% in the first quarter. Victory Capital Management Inc. now owns 15,793 shares of the medical research company’s stock valued at $2,157,000 after purchasing an additional 668 shares in the last quarter. Stephens Inc. AR lifted its holdings in Icon by 7.0% in the first quarter. Stephens Inc. AR now owns 9,639 shares of the medical research company’s stock valued at $1,316,000 after acquiring an additional 629 shares during the last quarter. Finally, Systematic Financial Management LP lifted its holdings in Icon by 8.1% in the first quarter. Systematic Financial Management LP now owns 10,042 shares of the medical research company’s stock valued at $1,372,000 after acquiring an additional 755 shares during the last quarter. 83.54% of the stock is owned by institutional investors and hedge funds.
NASDAQ:ICLR opened at $149.41 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $155.40 and its two-hundred day moving average is $144.72. Icon Plc has a 52 week low of $118.10 and a 52 week high of $165.13. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 2.02 and a beta of 0.63.
Icon (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.01. Icon had a return on equity of 25.02% and a net margin of 13.05%. The company had revenue of $695.14 million for the quarter, compared to analysts’ expectations of $693.56 million. During the same period in the prior year, the firm earned $1.51 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts expect that Icon Plc will post 6.88 EPS for the current fiscal year.
A number of research firms recently commented on ICLR. Mizuho upped their price objective on Icon from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 25th. UBS Group upgraded Icon from a “sell” rating to a “neutral” rating and upped their price objective for the company from $135.00 to $171.00 in a report on Friday, July 26th. ValuEngine cut Icon from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research cut Icon from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, BidaskClub cut Icon from a “buy” rating to a “hold” rating in a report on Saturday, September 7th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $167.00.
Icon Company Profile
ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.
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