Stephens Investment Management Group LLC raised its position in Icon Plc (NASDAQ:ICLR) by 0.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 573,326 shares of the medical research company’s stock after acquiring an additional 5,188 shares during the quarter. Icon makes up 1.7% of Stephens Investment Management Group LLC’s portfolio, making the stock its 5th biggest holding. Stephens Investment Management Group LLC owned 1.06% of Icon worth $88,275,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of ICLR. Comgest Global Investors S.A.S. lifted its holdings in Icon by 47.4% in the first quarter. Comgest Global Investors S.A.S. now owns 484,053 shares of the medical research company’s stock valued at $66,112,000 after acquiring an additional 155,720 shares during the period. Clearbridge Investments LLC raised its stake in shares of Icon by 5.9% in the first quarter. Clearbridge Investments LLC now owns 2,353,035 shares of the medical research company’s stock worth $321,378,000 after buying an additional 130,954 shares during the period. Boston Partners raised its stake in shares of Icon by 9.1% in the first quarter. Boston Partners now owns 1,503,804 shares of the medical research company’s stock worth $205,390,000 after buying an additional 125,498 shares during the period. Legato Capital Management LLC bought a new position in shares of Icon in the second quarter worth about $13,334,000. Finally, Ellis Investment Partners LLC bought a new position in shares of Icon in the first quarter worth about $59,000. 82.34% of the stock is currently owned by institutional investors.
Shares of NASDAQ:ICLR traded up $2.40 during trading on Thursday, hitting $155.75. 2,583 shares of the company’s stock were exchanged, compared to its average volume of 252,377. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.07 and a current ratio of 2.07. Icon Plc has a 52-week low of $118.10 and a 52-week high of $165.13. The firm has a 50-day moving average of $154.12. The firm has a market capitalization of $8.39 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 2.14 and a beta of 0.59.
Icon (NASDAQ:ICLR) last released its earnings results on Wednesday, July 24th. The medical research company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.01. Icon had a return on equity of 25.02% and a net margin of 13.05%. The firm had revenue of $695.14 million during the quarter, compared to analysts’ expectations of $693.56 million. During the same quarter last year, the business posted $1.51 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Research analysts expect that Icon Plc will post 6.87 EPS for the current fiscal year.
Several research firms have recently commented on ICLR. Barclays reaffirmed a “hold” rating and issued a $154.00 price objective on shares of Icon in a research note on Wednesday, April 17th. KeyCorp raised their price objective on Icon from $157.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Mizuho raised their price objective on Icon from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. ValuEngine raised Icon from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Zacks Investment Research downgraded Icon from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Icon has an average rating of “Buy” and a consensus price target of $165.75.
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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