Ameriprise Financial Inc. lifted its position in shares of Icon Plc (NASDAQ:ICLR) by 530.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 248,202 shares of the medical research company’s stock after acquiring an additional 208,816 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.46% of Icon worth $28,265,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Icon during the 3rd quarter worth $148,000. Commonwealth Equity Services Inc bought a new position in Icon in the 3rd quarter worth about $208,000. Advisors Asset Management Inc. bought a new position in Icon in the 3rd quarter worth about $411,000. Comgest Global Investors S.A.S. boosted its stake in Icon by 40.3% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 137,633 shares of the medical research company’s stock worth $15,674,000 after purchasing an additional 39,500 shares during the period. Finally, WCM Investment Management CA boosted its stake in Icon by 2.1% in the 3rd quarter. WCM Investment Management CA now owns 4,047,221 shares of the medical research company’s stock worth $460,897,000 after purchasing an additional 82,115 shares during the period. Institutional investors own 89.95% of the company’s stock.
Several brokerages have commented on ICLR. Zacks Investment Research downgraded Icon from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. ValuEngine downgraded Icon from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Jefferies Group raised their target price on Icon from $122.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Robert W. Baird restated a “buy” rating and issued a $123.00 target price on shares of Icon in a research note on Thursday, October 12th. Finally, Barclays raised their target price on Icon from $108.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Icon has an average rating of “Buy” and an average price target of $121.00.
Icon (NASDAQ:ICLR) last released its quarterly earnings results on Thursday, October 26th. The medical research company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.03. Icon had a return on equity of 28.42% and a net margin of 16.37%. The firm had revenue of $440.30 million for the quarter, compared to analysts’ expectations of $438.09 million. During the same quarter last year, the firm posted $1.19 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. equities research analysts forecast that Icon Plc will post 5.36 earnings per share for the current year.
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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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