Coldstream Capital Management Inc. bought a new position in Icon Plc (NASDAQ:ICLR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,935 shares of the medical research company’s stock, valued at approximately $385,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. WCM Investment Management CA lifted its position in Icon Plc by 6.8% in the second quarter. WCM Investment Management CA now owns 3,965,106 shares of the medical research company’s stock valued at $387,747,000 after purchasing an additional 252,853 shares during the last quarter. FMR LLC lifted its position in Icon Plc by 38.4% in the second quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock valued at $224,037,000 after purchasing an additional 635,950 shares during the last quarter. Clearbridge Investments LLC lifted its position in Icon Plc by 45.2% in the first quarter. Clearbridge Investments LLC now owns 1,594,656 shares of the medical research company’s stock valued at $127,126,000 after purchasing an additional 496,700 shares during the last quarter. Boston Partners lifted its position in Icon Plc by 3.4% in the second quarter. Boston Partners now owns 1,208,640 shares of the medical research company’s stock valued at $118,193,000 after purchasing an additional 40,153 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Icon Plc by 20.6% in the second quarter. Renaissance Technologies LLC now owns 1,153,160 shares of the medical research company’s stock valued at $112,768,000 after purchasing an additional 197,300 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.
Icon Plc (ICLR) traded up 0.20% during trading on Wednesday, reaching $114.25. The company’s stock had a trading volume of 28,179 shares. The company has a market capitalization of $6.17 billion, a P/E ratio of 23.17 and a beta of 0.59. The firm’s 50-day moving average price is $112.41 and its 200 day moving average price is $97.57. Icon Plc has a 12-month low of $73.76 and a 12-month high of $117.53.
Icon Plc (NASDAQ:ICLR) last issued its earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.01. The business had revenue of $431.00 million during the quarter, compared to analyst estimates of $430.68 million. Icon Plc had a return on equity of 28.72% and a net margin of 15.97%. Icon Plc’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. On average, analysts predict that Icon Plc will post $5.32 earnings per share for the current fiscal year.
Several analysts have weighed in on the company. Zacks Investment Research downgraded Icon Plc from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Jefferies Group LLC restated a “buy” rating and set a $122.00 target price on shares of Icon Plc in a report on Tuesday, September 12th. Bank of America Corporation began coverage on Icon Plc in a report on Monday, September 11th. They set a “buy” rating and a $128.00 target price for the company. Finally, ValuEngine upgraded Icon Plc from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $114.11.
Icon Plc Company Profile
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.
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