Huber Capital Management LLC bought a new stake in shares of Icon Plc (NASDAQ:ICLR – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,760 shares of the medical research company’s stock, valued at approximately $1,232,000.
A number of other institutional investors have also recently modified their holdings of ICLR. Harris Associates L P acquired a new stake in shares of Icon during the 2nd quarter valued at about $238,256,000. Capital World Investors boosted its holdings in Icon by 555.2% in the 4th quarter. Capital World Investors now owns 1,496,479 shares of the medical research company’s stock worth $272,688,000 after buying an additional 1,268,095 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Icon by 26.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock worth $811,499,000 after buying an additional 975,268 shares during the last quarter. Lyrical Asset Management LP acquired a new stake in Icon in the 4th quarter worth about $176,382,000. Finally, Norges Bank acquired a new stake in Icon in the 4th quarter worth about $160,073,000. 95.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently issued reports on ICLR. BMO Capital Markets lifted their price objective on Icon from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Barclays lifted their price objective on Icon from $120.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. TD Cowen lifted their price objective on Icon from $120.00 to $164.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Bank of America reiterated an “outperform” rating on shares of Icon in a report on Monday, June 1st. Finally, Zacks Research cut Icon from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 25th. Eight equities 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 stock. According to MarketBeat.com, Icon presently has an average rating of “Hold” and a consensus price target of $156.44.
Icon Trading Down 2.5%
Shares of Icon stock opened at $146.18 on Friday. The stock has a market cap of $11.19 billion, a P/E ratio of 23.73, a P/E/G ratio of 11.55 and a beta of 1.26. The stock’s 50 day simple moving average is $121.76 and its 200-day simple moving average is $140.47. Icon Plc has a 1-year low of $66.57 and a 1-year high of $211.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.10 and a quick ratio of 1.10.
Icon (NASDAQ:ICLR – Get Free Report) last issued its earnings results on Wednesday, June 17th. The medical research company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.05. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Icon had a return on equity of 9.50% and a net margin of 5.98%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.43 EPS. Analysts predict that Icon Plc will post 9.74 EPS for the current fiscal year.
Icon Company 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.
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