Icon Plc (NASDAQ:ICLR) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 812,161 shares, a drop of 34.9% from the October 13th total of 1,247,526 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily volume of 334,705 shares, the short-interest ratio is presently 2.4 days.

A number of large investors have recently modified their holdings of ICLR. Geode Capital Management LLC raised its position in Icon Plc by 14.7% in the 1st quarter. Geode Capital Management LLC now owns 28,777 shares of the medical research company’s stock worth $2,294,000 after purchasing an additional 3,680 shares during the period. Morgan Stanley raised its position in Icon Plc by 89.8% in the 1st quarter. Morgan Stanley now owns 147,238 shares of the medical research company’s stock worth $11,737,000 after purchasing an additional 69,669 shares during the period. Schwab Charles Investment Management Inc. raised its position in Icon Plc by 22.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 12,021 shares of the medical research company’s stock worth $959,000 after purchasing an additional 2,181 shares during the period. State Street Corp raised its position in Icon Plc by 6.9% in the 1st quarter. State Street Corp now owns 372,469 shares of the medical research company’s stock worth $29,693,000 after purchasing an additional 23,901 shares during the period. Finally, Atria Investments LLC raised its position in Icon Plc by 9.3% in the 2nd quarter. Atria Investments LLC now owns 2,940 shares of the medical research company’s stock worth $288,000 after purchasing an additional 251 shares during the period. Institutional investors own 91.59% of the company’s stock.

ICLR has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Icon Plc from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Jefferies Group LLC reissued a “buy” rating and issued a $122.00 price target on shares of Icon Plc in a report on Tuesday, September 12th. Credit Suisse Group reissued an “outperform” rating and issued a $120.00 price target (up from $105.00) on shares of Icon Plc in a report on Monday, October 16th. Bank of America Corporation initiated coverage on shares of Icon Plc in a report on Monday, September 11th. They issued a “buy” rating and a $128.00 price target for the company. Finally, ValuEngine raised shares of Icon Plc from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $121.00.

Shares of Icon Plc (NASDAQ:ICLR) opened at $113.24 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6,163.04, a price-to-earnings ratio of 21.84, a PEG ratio of 1.76 and a beta of 0.56. Icon Plc has a 52-week low of $73.76 and a 52-week high of $124.48.

Icon Plc (NASDAQ:ICLR) last posted its quarterly earnings data on Thursday, October 26th. The medical research company reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.03. The firm had revenue of $440.30 million for the quarter, compared to analysts’ expectations of $438.09 million. Icon Plc had a net margin of 16.37% and a return on equity of 28.42%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. sell-side analysts expect that Icon Plc will post 5.36 earnings per share for the current year.

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Icon Plc Company Profile

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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