WCM Investment Management CA raised its stake in Icon Plc (NASDAQ:ICLR) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,000,711 shares of the medical research company’s stock after buying an additional 367,131 shares during the period. Icon comprises about 6.9% of WCM Investment Management CA’s portfolio, making the stock its 8th biggest position. WCM Investment Management CA owned 0.09% of Icon worth $768,860,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fort L.P. bought a new stake in shares of Icon during the 2nd quarter valued at about $121,000. Capital Advisors Ltd. LLC bought a new stake in shares of Icon during the 3rd quarter valued at about $121,000. Gideon Capital Advisors Inc. bought a new stake in shares of Icon during the 2nd quarter valued at about $203,000. HighPoint Advisor Group LLC bought a new stake in shares of Icon during the 2nd quarter valued at about $203,000. Finally, Hilltop Holdings Inc. bought a new stake in shares of Icon during the 2nd quarter valued at about $212,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Icon from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a research report on Thursday, July 5th. Evercore ISI upgraded Icon from an “in-line” rating to an “outperform” rating in a report on Friday, October 26th. UBS Group set a $136.00 price target on Icon and gave the stock a “sell” rating in a report on Saturday, October 27th. Robert W. Baird reiterated a “buy” rating and issued a $154.00 price target on shares of Icon in a report on Thursday, July 26th. Finally, SunTrust Banks increased their price target on Icon to $153.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Icon currently has an average rating of “Buy” and a consensus price target of $148.00.
NASDAQ:ICLR traded up $0.75 on Friday, hitting $140.72. The stock had a trading volume of 15,164 shares, compared to its average volume of 279,464. The firm has a market cap of $7.18 billion, a P/E ratio of 26.11, a PEG ratio of 1.91 and a beta of 0.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.10 and a current ratio of 2.10. Icon Plc has a 52 week low of $101.22 and a 52 week high of $155.33.
Icon (NASDAQ:ICLR) last announced its quarterly earnings results on Wednesday, October 24th. The medical research company reported $1.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.54. The business had revenue of $655.02 million for the quarter, compared to analyst estimates of $654.66 million. Icon had a return on equity of 26.75% and a net margin of 12.88%. On average, equities analysts forecast that Icon Plc will post 6.08 earnings per share for the current fiscal year.
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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