Icon Plc $ICLR is Ruane Cunniff & Goldfarb L.P.’s 9th Largest Position

Ruane Cunniff & Goldfarb L.P. decreased its holdings in shares of Icon Plc (NASDAQ:ICLR) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,679,590 shares of the medical research company’s stock after selling 21,404 shares during the quarter. Icon accounts for approximately 4.8% of Ruane Cunniff & Goldfarb L.P.’s portfolio, making the stock its 9th largest position. Ruane Cunniff & Goldfarb L.P. owned about 2.08% of Icon worth $306,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its holdings in shares of Icon by 11.5% during the second quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock valued at $79,000 after acquiring an additional 56 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Icon by 1.1% during the fourth quarter. Sanctuary Advisors LLC now owns 4,932 shares of the medical research company’s stock valued at $899,000 after acquiring an additional 56 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Icon by 12.6% during the fourth quarter. Signaturefd LLC now owns 643 shares of the medical research company’s stock valued at $117,000 after acquiring an additional 72 shares in the last quarter. New Wave Wealth Advisors LLC raised its holdings in shares of Icon by 5.1% during the fourth quarter. New Wave Wealth Advisors LLC now owns 1,479 shares of the medical research company’s stock valued at $270,000 after acquiring an additional 72 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Icon by 0.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 23,942 shares of the medical research company’s stock valued at $4,363,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Price Performance

Shares of NASDAQ:ICLR opened at $146.18 on Friday. Icon Plc has a 1-year low of $66.57 and a 1-year high of $211.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.10 and a quick ratio of 1.10. The business has a fifty day moving average price of $121.76 and a 200-day moving average price of $140.47. The company has a market capitalization of $11.19 billion, a PE ratio of 23.73, a PEG ratio of 11.84 and a beta of 1.26.

Icon (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, June 17th. The medical research company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.05. Icon had a return on equity of 9.50% and a net margin of 5.98%.The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the company earned $3.43 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts expect that Icon Plc will post 9.74 EPS for the current fiscal year.

Analyst Ratings Changes

ICLR has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Icon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Barclays upped their target price on Icon from $120.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. TD Cowen upped their target price on Icon from $120.00 to $164.00 and gave the company a “buy” rating in a report on Monday, June 1st. Rothschild & Co Redburn set a $100.00 target price on Icon and gave the company a “neutral” rating in a report on Tuesday, February 17th. Finally, BMO Capital Markets upped their target price on Icon from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $156.44.

Icon Profile

Icon plc (NASDAQ: ICLR) is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon’s service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.