Quantitative Systematic Strategies LLC acquired a new position in shares of ICON plc (NASDAQ:ICLR) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 2,505 shares of the medical research company’s stock, valued at approximately $296,000.
A number of other institutional investors have also modified their holdings of ICLR. M&T Bank Corp raised its stake in shares of ICON by 2.2% in the 1st quarter. M&T Bank Corp now owns 36,327 shares of the medical research company’s stock valued at $4,291,000 after purchasing an additional 789 shares during the period. Mitchell Capital Management Co. acquired a new stake in shares of ICON in the 1st quarter valued at about $351,000. Massachusetts Financial Services Co. MA raised its stake in shares of ICON by 11.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 892,262 shares of the medical research company’s stock valued at $105,412,000 after purchasing an additional 90,135 shares during the period. Mckinley Capital Management LLC Delaware raised its stake in shares of ICON by 6.5% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 301,554 shares of the medical research company’s stock valued at $35,626,000 after purchasing an additional 18,391 shares during the period. Finally, Boston Partners raised its stake in shares of ICON by 46.3% in the 1st quarter. Boston Partners now owns 1,626,440 shares of the medical research company’s stock valued at $192,147,000 after purchasing an additional 514,715 shares during the period. 92.00% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:ICLR opened at $125.74 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.95 and a current ratio of 1.85. The stock has a market capitalization of $6.67 billion, a P/E ratio of 23.33, a P/E/G ratio of 1.94 and a beta of 0.43. ICON plc has a 52-week low of $85.59 and a 52-week high of $126.91.
ICON (NASDAQ:ICLR) last released its earnings results on Thursday, May 3rd. The medical research company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.01. The business had revenue of $620.13 million for the quarter, compared to the consensus estimate of $562.61 million. ICON had a return on equity of 26.56% and a net margin of 14.80%. ICON’s quarterly revenue was up 43.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. analysts anticipate that ICON plc will post 6.04 earnings per share for the current year.
Several analysts have issued reports on the company. BidaskClub downgraded ICON from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research raised ICON from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Credit Suisse Group raised ICON to a “buy” rating and set a $131.00 price target on the stock in a research note on Friday, February 16th. Mizuho reissued a “neutral” rating and issued a $114.00 price target (up previously from $109.00) on shares of ICON in a research note on Thursday, February 15th. Finally, ValuEngine raised ICON from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $126.18.
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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