Kornitzer Capital Management Inc. KS Raises Position in Icon Plc (NASDAQ:ICLR)

Kornitzer Capital Management Inc. KS lifted its holdings in Icon Plc (NASDAQ:ICLR - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,627 shares of the medical research company's stock after purchasing an additional 2,525 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.12% of Icon worth $17,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. NBC Securities Inc. acquired a new stake in Icon in the 1st quarter worth about $59,000. Cloud Capital Management LLC purchased a new position in shares of Icon in the first quarter valued at approximately $101,000. Farther Finance Advisors LLC boosted its stake in shares of Icon by 22.8% in the first quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company's stock worth $99,000 after acquiring an additional 110 shares during the last quarter. Horizon Investments LLC increased its position in shares of Icon by 534.0% during the fourth quarter. Horizon Investments LLC now owns 653 shares of the medical research company's stock worth $137,000 after purchasing an additional 550 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Icon by 128.2% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,166 shares of the medical research company's stock valued at $245,000 after purchasing an additional 655 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company's stock.

Wall Street Analysts Forecast Growth

ICLR has been the topic of several recent research reports. Citigroup lowered their target price on shares of Icon from $290.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Mizuho decreased their price target on shares of Icon from $200.00 to $173.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. TD Cowen cut shares of Icon from a "buy" rating to a "hold" rating and dropped their price objective for the company from $254.00 to $157.00 in a research note on Monday, April 14th. The Goldman Sachs Group cut their price objective on shares of Icon from $180.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Evercore ISI raised their target price on shares of Icon from $155.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Eight 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, Icon currently has a consensus rating of "Moderate Buy" and a consensus target price of $198.08.

Icon Trading Down 1.1%

ICLR traded down $1.54 on Wednesday, hitting $144.04. The company had a trading volume of 1,134,103 shares, compared to its average volume of 1,121,444. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.36. The firm has a market cap of $11.63 billion, a P/E ratio of 15.69, a PEG ratio of 1.78 and a beta of 1.17. The company's fifty day moving average price is $140.69 and its 200 day moving average price is $166.61. Icon Plc has a 1 year low of $125.10 and a 1 year high of $345.86.

Icon (NASDAQ:ICLR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The medical research company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.17 by $0.02. Icon had a net margin of 9.25% and a return on equity of 11.46%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business posted $3.47 EPS. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts expect that Icon Plc will post 13.38 earnings per share for the current year.

Icon Company Profile

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.