Handelsbanken Fonder AB raised its stake in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 25.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,905 shares of the medical research company's stock after buying an additional 5,229 shares during the quarter. Handelsbanken Fonder AB's holdings in Icon were worth $4,533,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new position in Icon during the 4th quarter valued at about $29,000. Private Trust Co. NA grew its holdings in Icon by 48.8% during the 4th quarter. Private Trust Co. NA now owns 250 shares of the medical research company's stock valued at $52,000 after buying an additional 82 shares in the last quarter. NBC Securities Inc. purchased a new position in Icon during the 1st quarter valued at about $59,000. Farther Finance Advisors LLC grew its holdings in Icon by 22.8% during the 1st quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company's stock valued at $99,000 after buying an additional 110 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in Icon by 534.0% during the 4th quarter. Horizon Investments LLC now owns 653 shares of the medical research company's stock valued at $137,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company's stock.
Icon Price Performance
ICLR traded down $5.18 during midday trading on Tuesday, hitting $141.86. The stock had a trading volume of 1,169,056 shares, compared to its average volume of 1,089,803. The company has a market cap of $11.46 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.53 and a beta of 1.15. The business has a fifty day moving average of $138.92 and a 200 day moving average of $175.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.27 and a current ratio of 1.27. Icon Plc has a 1 year low of $125.10 and a 1 year high of $347.72.
Icon (NASDAQ:ICLR - Get Free Report) last issued its earnings results on Wednesday, April 30th. The medical research company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.17 by $0.02. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. Icon had a return on equity of 11.46% and a net margin of 9.25%. Icon's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.47 earnings per share. As a group, equities analysts forecast that Icon Plc will post 13.38 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently commented on the company. The Goldman Sachs Group cut their price objective on Icon from $180.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Citigroup cut their price objective on Icon from $290.00 to $215.00 and set a "buy" rating for the company in a report on Monday, April 7th. Mizuho cut their price objective on Icon from $200.00 to $173.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Robert W. Baird cut their price objective on Icon from $192.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, TD Cowen lowered Icon from a "buy" rating to a "hold" rating and cut their price objective for the stock from $254.00 to $157.00 in a report on Monday, April 14th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $213.08.
Read Our Latest Research Report on Icon
Icon Company Profile
(
Free Report)
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.
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