Wealthquest Corp Purchases New Shares in Icon Plc (NASDAQ:ICLR)

Wealthquest Corp purchased a new position in Icon Plc (NASDAQ:ICLR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,928 shares of the medical research company's stock, valued at approximately $862,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ICLR. State of Tennessee Department of Treasury lifted its holdings in shares of Icon by 1.0% in the fourth quarter. State of Tennessee Department of Treasury now owns 158,947 shares of the medical research company's stock worth $33,333,000 after buying an additional 1,600 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Icon by 2.6% in the first quarter. Kornitzer Capital Management Inc. KS now owns 99,627 shares of the medical research company's stock worth $17,434,000 after buying an additional 2,525 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Icon by 15,701.6% in the first quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company's stock worth $119,730,000 after buying an additional 67,988 shares in the last quarter. Foyston Gordon & Payne Inc lifted its holdings in shares of Icon by 27.3% in the fourth quarter. Foyston Gordon & Payne Inc now owns 51,713 shares of the medical research company's stock worth $10,845,000 after buying an additional 11,089 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of 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. 95.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ICLR shares. Mizuho raised their target price on shares of Icon from $173.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Baird R W raised shares of Icon from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Robert W. Baird raised shares of Icon from a "neutral" rating to an "outperform" rating and raised their target price for the company from $150.00 to $224.00 in a research note on Thursday, July 24th. Evercore ISI raised their target price on shares of Icon from $170.00 to $240.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Barclays raised their target price on shares of Icon from $155.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $219.54.

Icon Trading Down 1.6%

Shares of Icon stock traded down $2.75 on Friday, hitting $166.44. The stock had a trading volume of 1,131,157 shares, compared to its average volume of 1,732,199. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.35. Icon Plc has a one year low of $125.10 and a one year high of $328.35. The stock has a market cap of $13.44 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 2.28 and a beta of 1.17. The stock's 50-day simple moving average is $149.52 and its two-hundred day simple moving average is $162.92.

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

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.