Marks Group Wealth Management Inc Trims Stock Position in Icon Plc $ICLR

Marks Group Wealth Management Inc lowered its position in shares of Icon Plc (NASDAQ:ICLR) by 13.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,554 shares of the medical research company’s stock after selling 7,190 shares during the period. Marks Group Wealth Management Inc’s holdings in Icon were worth $8,301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Toth Financial Advisory Corp purchased a new position in Icon in the 4th quarter worth approximately $27,000. Ameriflex Group Inc. purchased a new position in Icon in the 3rd quarter worth approximately $33,000. Johnson Financial Group Inc. purchased a new position in Icon in the 3rd quarter worth approximately $71,000. Quadrant Capital Group LLC purchased a new position in Icon in the 3rd quarter worth approximately $78,000. Finally, Geneos Wealth Management Inc. grew its stake in Icon by 11.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock worth $79,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Trading Up 1.9%

NASDAQ:ICLR opened at $152.24 on Tuesday. The company has a fifty day moving average of $118.50 and a 200 day moving average of $140.68. Icon Plc has a 52 week low of $66.57 and a 52 week high of $211.00. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $11.66 billion, a P/E ratio of 24.71, a P/E/G ratio of 11.81 and a beta of 1.26.

Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, June 10th. The medical research company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.05. Icon had a net margin of 5.98% and a return on equity of 9.50%. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the business posted $3.43 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, research analysts predict that Icon Plc will post 9.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on ICLR shares. BMO Capital Markets boosted their price target on shares of Icon from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. TD Cowen upped their price objective on shares of Icon from $120.00 to $164.00 and gave the company a “buy” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. upped their price objective on shares of Icon from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Icon in a research note on Friday, May 29th. Finally, DA Davidson set a $164.00 price objective on shares of Icon in a research note on Monday, June 1st. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.