Wasatch Advisors Inc. lessened its position in shares of Icon Plc (NASDAQ:ICLR) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,710,295 shares of the medical research company’s stock after selling 117,157 shares during the period. Icon comprises 2.5% of Wasatch Advisors Inc.’s holdings, making the stock its 3rd largest position. Wasatch Advisors Inc. owned approximately 3.16% of Icon worth $191,810,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Bank of Montreal Can increased its holdings in Icon by 22.6% during the 4th quarter. Bank of Montreal Can now owns 167,072 shares of the medical research company’s stock worth $18,738,000 after purchasing an additional 30,754 shares in the last quarter. Summit Creek Advisors LLC grew its holdings in shares of Icon by 21.9% in the 4th quarter. Summit Creek Advisors LLC now owns 142,369 shares of the medical research company’s stock valued at $15,967,000 after acquiring an additional 25,533 shares in the last quarter. LVM Capital Management Ltd. MI bought a new position in shares of Icon in the 4th quarter valued at about $5,886,000. Atlantic Trust Group LLC bought a new position in shares of Icon in the 3rd quarter valued at about $9,515,000. Finally, Fieldpoint Private Securities LLC bought a new position in shares of Icon in the 3rd quarter valued at about $330,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.
Several equities analysts have recently weighed in on the company. KeyCorp restated a “buy” rating and issued a $130.00 price objective on shares of Icon in a report on Thursday, January 11th. Zacks Investment Research cut Icon from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. ValuEngine cut Icon from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Jefferies Group raised their price objective on Icon from $122.00 to $132.00 and gave the company a “buy” rating in a report on Monday, October 9th. Finally, Barclays raised their price objective on Icon from $108.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Icon presently has a consensus rating of “Buy” and a consensus price target of $121.82.
Shares of Icon Plc (NASDAQ ICLR) traded down $0.98 during trading hours on Tuesday, reaching $112.29. 252,591 shares of the company traded hands, compared to its average volume of 283,030. Icon Plc has a twelve month low of $76.46 and a twelve month high of $124.48. The firm has a market cap of $6,100.00, a P/E ratio of 21.80, a P/E/G ratio of 1.61 and a beta of 0.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.90 and a quick ratio of 1.90.
Icon (NASDAQ:ICLR) last issued its earnings results on Thursday, October 26th. The medical research company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.03. Icon had a net margin of 16.37% and a return on equity of 28.42%. The business had revenue of $440.30 million during the quarter, compared to the consensus estimate of $438.09 million. During the same period last year, the business posted $1.19 EPS. Icon’s revenue was up 4.8% on a year-over-year basis. equities research analysts anticipate that Icon Plc will post 5.37 earnings per share for the current year.
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Icon Company Profile
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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