Wealthquest Corp Makes New Investment in Icon Plc (NASDAQ:ICLR)

Wealthquest Corp bought a new stake in Icon Plc (NASDAQ:ICLR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 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 have also recently bought and sold shares of the stock. Arkadios Wealth Advisors lifted its holdings in Icon by 573.7% during the 1st quarter. Arkadios Wealth Advisors now owns 7,828 shares of the medical research company's stock worth $1,370,000 after buying an additional 6,666 shares during the last quarter. Tributary Capital Management LLC increased its position in shares of Icon by 33.6% during the first quarter. Tributary Capital Management LLC now owns 5,279 shares of the medical research company's stock worth $924,000 after purchasing an additional 1,329 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in Icon by 2.6% in 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 acquiring an additional 2,525 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Icon by 36.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,593 shares of the medical research company's stock valued at $279,000 after acquiring an additional 427 shares during the period. Finally, Whittier Trust Co. increased its position in Icon by 9.2% in the 1st quarter. Whittier Trust Co. now owns 5,172 shares of the medical research company's stock valued at $905,000 after acquiring an additional 436 shares during the period. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Icon Price Performance

Shares of NASDAQ ICLR traded down $1.43 during mid-day trading on Monday, reaching $165.01. 144,325 shares of the company traded hands, compared to its average volume of 1,328,917. Icon Plc has a fifty-two week low of $125.10 and a fifty-two week high of $328.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $13.33 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 2.25 and a beta of 1.17. The stock has a fifty day simple moving average of $149.52 and a 200-day simple moving average of $162.39.

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

Analysts Set New Price Targets

Several brokerages have recently commented on ICLR. The Goldman Sachs Group decreased their price target on Icon from $180.00 to $160.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Robert W. Baird upgraded 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. Mizuho raised their target price on Icon from $173.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. cut shares of Icon from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $265.00 to $150.00 in a research report on Tuesday, April 29th. Finally, Citigroup cut their target price 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 equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Icon presently has an average rating of "Moderate Buy" and an average target price of $219.54.

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.