Chartwell Investment Partners LLC trimmed its holdings in Icon Plc (NASDAQ:ICLR) by 44.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,855 shares of the medical research company’s stock after selling 16,863 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Icon were worth $3,513,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Harbor Investment Advisory LLC purchased a new stake in Icon in the 2nd quarter worth about $26,000. Contravisory Investment Management Inc. acquired a new position in shares of Icon in the second quarter worth $40,000. Sowell Financial Services LLC increased its stake in shares of Icon by 281.1% in the first quarter. Sowell Financial Services LLC now owns 465 shares of the medical research company’s stock worth $63,000 after acquiring an additional 343 shares during the last quarter. Bartlett & Co. LLC purchased a new stake in shares of Icon during the first quarter worth $68,000. Finally, Financial Management Professionals Inc. acquired a new stake in Icon during the second quarter valued at $74,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on ICLR. Jefferies Financial Group raised their price target on Icon from $184.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Bank of America lowered shares of Icon from a “buy” rating to a “neutral” rating in a research report on Friday, July 24th. Deutsche Bank lifted their target price on shares of Icon from $135.00 to $170.00 and gave the company a “hold” rating in a research note on Monday, July 27th. Robert W. Baird lowered shares of Icon from an “outperform” rating to a “neutral” rating and set a $151.00 price target on the stock. in a research note on Monday, April 20th. Finally, SunTrust Banks lifted their price objective on shares of Icon from $131.00 to $157.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $177.33.
Shares of ICLR stock opened at $185.46 on Friday. Icon Plc has a 12 month low of $104.28 and a 12 month high of $199.83. The company has a market capitalization of $9.94 billion, a P/E ratio of 30.91, a P/E/G ratio of 3.16 and a beta of 0.86. The stock has a 50 day moving average of $171.65 and a two-hundred day moving average of $161.81.
Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, July 22nd. The medical research company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $620.23 million during the quarter, compared to analysts’ expectations of $594.31 million. Icon had a net margin of 12.03% and a return on equity of 22.21%. On average, equities analysts expect that Icon Plc will post 6.26 EPS for the current year.
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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