Boston Partners Cuts Holdings in Icon Plc $ICLR

Boston Partners lowered its holdings in Icon Plc (NASDAQ:ICLR) by 90.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,538 shares of the medical research company’s stock after selling 548,381 shares during the quarter. Boston Partners owned 0.07% of Icon worth $8,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ICLR. Whittier Trust Co. raised its position in Icon by 9.2% in the 1st quarter. Whittier Trust Co. now owns 5,172 shares of the medical research company’s stock worth $905,000 after buying an additional 436 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Icon by 36.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,593 shares of the medical research company’s stock valued at $279,000 after purchasing an additional 427 shares during the last quarter. Tributary Capital Management LLC raised its holdings in shares of Icon by 33.6% during the first quarter. Tributary Capital Management LLC now owns 5,279 shares of the medical research company’s stock valued at $924,000 after purchasing an additional 1,329 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Icon by 573.7% during the first quarter. Arkadios Wealth Advisors now owns 7,828 shares of the medical research company’s stock valued at $1,370,000 after purchasing an additional 6,666 shares during the period. Finally, Wealthquest Corp purchased a new stake in Icon in the first quarter worth approximately $862,000. 95.61% of the stock is owned by institutional investors.

Icon Stock Performance

Shares of NASDAQ ICLR opened at $163.45 on Friday. The firm has a fifty day moving average price of $175.76 and a 200-day moving average price of $160.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $13.20 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 3.04 and a beta of 1.22. Icon Plc has a 1 year low of $125.10 and a 1 year high of $228.29.

Icon (NASDAQ:ICLR) last released its earnings results on Wednesday, October 22nd. The medical research company reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.03. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Icon had a net margin of 7.40% and a return on equity of 10.58%. Icon’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.35 EPS. Equities analysts anticipate that Icon Plc will post 13.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ICLR has been the subject of a number of research reports. Leerink Partners set a $220.00 target price on shares of Icon in a research note on Thursday, October 23rd. Jefferies Financial Group downgraded Icon from a “buy” rating to a “hold” rating and lowered their target price for the company from $220.00 to $175.00 in a report on Tuesday, September 9th. Evercore ISI raised their target price on Icon from $170.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Robert W. Baird set a $220.00 price target on shares of Icon in a research report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Icon in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.00.

Icon Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company 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.