Short Interest in Icon Plc (ICLR) Grows By 30.4%
Icon Plc (NASDAQ:ICLR) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 1,264,346 shares, an increase of 30.4% from the August 15th total of 969,335 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 324,873 shares, the short-interest ratio is currently 3.9 days.
A number of hedge funds have recently added to or reduced their stakes in ICLR. Renaissance Technologies LLC boosted its stake in Icon Plc by 252.6% in the 1st quarter. Renaissance Technologies LLC now owns 955,860 shares of the medical research company’s stock worth $76,201,000 after purchasing an additional 684,760 shares in the last quarter. Koch Industries Inc. boosted its stake in Icon Plc by 17,508.8% in the 2nd quarter. Koch Industries Inc. now owns 666,140 shares of the medical research company’s stock worth $659,000 after purchasing an additional 662,357 shares in the last quarter. FMR LLC boosted its stake in Icon Plc by 38.4% in the 2nd quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock worth $224,037,000 after purchasing an additional 635,950 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Icon Plc by 45.2% in the 1st quarter. Clearbridge Investments LLC now owns 1,594,656 shares of the medical research company’s stock worth $127,126,000 after purchasing an additional 496,700 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Icon Plc by 48.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,068,159 shares of the medical research company’s stock worth $104,488,000 after purchasing an additional 348,292 shares in the last quarter. Institutional investors own 90.62% of the company’s stock.
Icon Plc (NASDAQ:ICLR) opened at 111.34 on Friday. Icon Plc has a 12-month low of $73.76 and a 12-month high of $117.53. The stock has a market capitalization of $6.02 billion, a PE ratio of 22.58 and a beta of 0.61. The stock’s 50 day moving average is $108.18 and its 200 day moving average is $93.43.
Icon Plc (NASDAQ:ICLR) last released its earnings results on Thursday, July 27th. The medical research company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. The company had revenue of $431.00 million during the quarter, compared to analysts’ expectations of $430.68 million. Icon Plc had a net margin of 15.97% and a return on equity of 28.72%. Icon Plc’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. Equities analysts anticipate that Icon Plc will post $5.32 EPS for the current fiscal year.
ICLR has been the topic of several analyst reports. Jefferies Group LLC upgraded shares of Icon Plc from a “hold” rating to a “buy” rating and upped their target price for the stock from $86.00 to $117.00 in a research note on Thursday, June 29th. Goldman Sachs Group, Inc. (The) upgraded shares of Icon Plc from a “buy” rating to a “conviction-buy” rating and set a $117.00 target price on the stock in a research note on Friday, July 7th. Credit Suisse Group reiterated an “outperform” rating and issued a $102.00 target price (up previously from $91.00) on shares of Icon Plc in a research note on Tuesday, June 6th. Zacks Investment Research upgraded shares of Icon Plc from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Tuesday, June 27th. Finally, BidaskClub upgraded shares of Icon Plc from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Icon Plc currently has an average rating of “Buy” and a consensus price target of $113.67.
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About Icon Plc
ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.
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