Tygh Capital Management Inc. Has $8.36 Million Stake in ICON plc (ICLR)

Tygh Capital Management Inc. increased its position in ICON plc (NASDAQ:ICLR) by 23.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,742 shares of the medical research company’s stock after acquiring an additional 13,320 shares during the quarter. ICON comprises about 1.6% of Tygh Capital Management Inc.’s holdings, making the stock its 18th biggest holding. Tygh Capital Management Inc. owned 0.13% of ICON worth $8,357,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ICLR. Oppenheimer Asset Management Inc. lifted its position in ICON by 5.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,745 shares of the medical research company’s stock valued at $2,097,000 after purchasing an additional 964 shares during the last quarter. BlackRock Inc. lifted its position in ICON by 15.7% during the first quarter. BlackRock Inc. now owns 45,357 shares of the medical research company’s stock valued at $5,358,000 after purchasing an additional 6,156 shares during the last quarter. Northern Trust Corp lifted its position in ICON by 6.4% during the first quarter. Northern Trust Corp now owns 292,907 shares of the medical research company’s stock valued at $34,604,000 after purchasing an additional 17,650 shares during the last quarter. Private Advisor Group LLC lifted its position in ICON by 59.4% during the first quarter. Private Advisor Group LLC now owns 2,932 shares of the medical research company’s stock valued at $346,000 after purchasing an additional 1,093 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its position in ICON by 21.3% during the first quarter. GW&K Investment Management LLC now owns 13,941 shares of the medical research company’s stock valued at $1,647,000 after purchasing an additional 2,445 shares during the last quarter. Institutional investors own 89.28% of the company’s stock.

ICLR has been the subject of several research analyst reports. SunTrust Banks reiterated a “buy” rating and set a $133.00 target price on shares of ICON in a research report on Monday, January 22nd. Zacks Investment Research lowered shares of ICON from a “buy” rating to a “sell” rating in a research report on Thursday, April 19th. BidaskClub upgraded shares of ICON from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Mizuho set a $109.00 target price on shares of ICON and gave the company a “hold” rating in a research report on Wednesday, January 24th. Finally, ValuEngine upgraded shares of ICON from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $126.18.

ICON opened at $125.74 on Monday, MarketBeat.com reports. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 1.98 and a beta of 0.43. ICON plc has a one year low of $85.59 and a one year high of $126.91. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29.

ICON (NASDAQ:ICLR) last posted its quarterly earnings results on Thursday, May 3rd. The medical research company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.41 by $0.01. The firm had revenue of $620.13 million for the quarter, compared to the consensus estimate of $562.61 million. ICON had a net margin of 14.80% and a return on equity of 26.56%. The business’s revenue was up 43.6% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. analysts anticipate that ICON plc will post 6.04 EPS for the current year.

About ICON

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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Institutional Ownership by Quarter for ICON (NASDAQ:ICLR)

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