Polen Capital Management LLC cut its holdings in Icon Plc (NASDAQ:ICLR – Free Report) by 76.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,206 shares of the medical research company’s stock after selling 338,255 shares during the period. Polen Capital Management LLC owned approximately 0.13% of Icon worth $19,171,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of ICLR. WINTON GROUP Ltd bought a new stake in Icon in the second quarter worth $254,000. Daiwa Securities Group Inc. boosted its holdings in Icon by 19.3% in the second quarter. Daiwa Securities Group Inc. now owns 28,145 shares of the medical research company’s stock worth $4,094,000 after purchasing an additional 4,546 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Icon by 97.6% in the second quarter. Frontier Capital Management Co. LLC now owns 71,360 shares of the medical research company’s stock worth $10,379,000 after purchasing an additional 35,253 shares in the last quarter. Peapack Gladstone Financial Corp bought a new stake in Icon in the second quarter worth $212,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Icon by 58.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 781 shares of the medical research company’s stock valued at $113,000 after acquiring an additional 289 shares during the period. 95.61% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have issued reports on ICLR. Leerink Partners set a $145.00 price target on shares of Icon in a report on Thursday, May 28th. BMO Capital Markets upped their price target on shares of Icon from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Zacks Research cut shares of Icon from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 25th. Citigroup upped their price target on shares of Icon from $120.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, Barclays upped their price target on shares of Icon from $120.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Eight investment 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 data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $156.44.
Icon Stock Up 3.7%
Shares of ICLR opened at $149.92 on Friday. The company has a 50-day simple moving average of $121.07 and a 200-day simple moving average of $140.43. The firm has a market capitalization of $11.48 billion, a P/E ratio of 24.34, a P/E/G ratio of 11.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.10 and a current ratio of 1.10. Icon Plc has a 52 week low of $66.57 and a 52 week high of $211.00.
Icon (NASDAQ:ICLR – Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $1.99 billion. Icon had a net margin of 5.98% and a return on equity of 9.50%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.43 earnings per share. On average, equities research analysts expect that Icon Plc will post 9.74 earnings per share for the current year.
About Icon
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.
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