Arkadios Wealth Advisors Purchases 6,666 Shares of Icon Plc (NASDAQ:ICLR)

Arkadios Wealth Advisors lifted its stake in Icon Plc (NASDAQ:ICLR - Free Report) by 573.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,828 shares of the medical research company's stock after purchasing an additional 6,666 shares during the period. Arkadios Wealth Advisors' holdings in Icon were worth $1,370,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of Tennessee Department of Treasury raised its position in Icon by 1.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 158,947 shares of the medical research company's stock valued at $33,333,000 after purchasing an additional 1,600 shares during the period. Kornitzer Capital Management Inc. KS increased its position in Icon by 2.6% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 99,627 shares of the medical research company's stock valued at $17,434,000 after purchasing an additional 2,525 shares during the period. GAMMA Investing LLC lifted its position in shares of Icon by 15,701.6% in the 1st quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company's stock worth $119,730,000 after purchasing an additional 67,988 shares during the period. Foyston Gordon & Payne Inc boosted its stake in shares of Icon by 27.3% during the fourth quarter. Foyston Gordon & Payne Inc now owns 51,713 shares of the medical research company's stock valued at $10,845,000 after purchasing an additional 11,089 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in Icon by 2.0% in the fourth quarter. Captrust Financial Advisors now owns 35,301 shares of the medical research company's stock worth $7,403,000 after buying an additional 701 shares in the last quarter. Institutional investors own 95.61% of the company's stock.

Icon Price Performance

Icon stock opened at $166.44 on Friday. The stock has a market capitalization of $13.44 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.28 and a beta of 1.17. The company's fifty day moving average price is $149.52 and its 200 day moving average price is $162.92. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.29 and a current ratio of 1.29. Icon Plc has a 1 year low of $125.10 and a 1 year high of $328.35.

Icon (NASDAQ:ICLR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share for the quarter, beating analysts' consensus estimates of $3.18 by $0.08. Icon had a net margin of 9.82% and a return on equity of 10.95%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company posted $3.75 EPS. Icon's quarterly revenue was down 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Icon Plc will post 13.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ICLR shares. The Goldman Sachs Group dropped their price objective on Icon from $180.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. UBS Group lifted their price target on shares of Icon from $170.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Mizuho boosted their target price on Icon from $173.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. TD Cowen downgraded Icon from a "buy" rating to a "hold" rating and lowered their price target for the stock from $254.00 to $157.00 in a report on Monday, April 14th. Finally, Citigroup cut their price objective on shares of Icon from $290.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $219.54.

About Icon

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.

Want to see what other hedge funds are holding ICLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Icon Plc (NASDAQ:ICLR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.