Dorsey Wright & Associates bought a new stake in shares of Icon Plc (NASDAQ:ICLR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,214 shares of the medical research company’s stock, valued at approximately $6,644,000. Icon makes up approximately 1.2% of Dorsey Wright & Associates’ investment portfolio, making the stock its 24th largest holding. Dorsey Wright & Associates owned 0.08% of Icon at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. WCM Investment Management CA boosted its holdings in Icon by 3.9% in the second quarter. WCM Investment Management CA now owns 4,633,580 shares of the medical research company’s stock worth $614,088,000 after acquiring an additional 172,080 shares in the last quarter. Partner Fund Management L.P. boosted its holdings in Icon by 61.1% in the second quarter. Partner Fund Management L.P. now owns 432,312 shares of the medical research company’s stock worth $57,294,000 after acquiring an additional 163,959 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Icon by 20.6% in the first quarter. Principal Financial Group Inc. now owns 946,806 shares of the medical research company’s stock worth $111,856,000 after acquiring an additional 161,558 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Icon by 3,097.7% in the second quarter. Advisors Asset Management Inc. now owns 153,202 shares of the medical research company’s stock worth $650,000 after acquiring an additional 148,411 shares in the last quarter. Finally, Redwood Investments LLC bought a new position in Icon in the second quarter worth approximately $16,964,000. Institutional investors own 87.91% of the company’s stock.
Several brokerages have issued reports on ICLR. BidaskClub upgraded Icon from a “hold” rating to a “buy” rating in a report on Wednesday, September 5th. UBS Group began coverage on Icon in a report on Tuesday. They issued a “sell” rating and a $145.00 price target on the stock. Robert W. Baird increased their price target on Icon from $154.00 to $157.00 and gave the stock an “outperform” rating in a report on Tuesday, September 11th. KeyCorp increased their price target on Icon from $152.00 to $157.00 and gave the stock an “overweight” rating in a report on Tuesday, September 11th. Finally, Zacks Investment Research upgraded Icon from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $146.10.
Shares of Icon stock traded up $4.15 on Friday, hitting $144.92. The company had a trading volume of 247,200 shares, compared to its average volume of 255,517. The company has a market cap of $8.31 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.21 and a beta of 0.31. Icon Plc has a 1 year low of $101.22 and a 1 year high of $155.33. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.28.
Icon (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, July 25th. The medical research company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.17). The company had revenue of $641.60 million during the quarter, compared to analysts’ expectations of $618.64 million. Icon had a return on equity of 26.35% and a net margin of 13.69%. The business’s revenue for the quarter was up 48.9% compared to the same quarter last year. During the same period last year, the company earned $1.34 earnings per share. As a group, research analysts anticipate that Icon Plc will post 6.08 EPS for the current year.
ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It 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.
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