Fisher Funds Management LTD Decreases Holdings in Icon Plc $ICLR

Fisher Funds Management LTD decreased its stake in Icon Plc (NASDAQ:ICLR) by 66.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 174,291 shares of the medical research company’s stock after selling 338,811 shares during the period. Fisher Funds Management LTD’s holdings in Icon were worth $19,287,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICLR. Harris Associates L P bought a new position in shares of Icon during the 2nd quarter valued at approximately $238,256,000. Capital World Investors increased its stake in shares of Icon by 555.2% during the 4th quarter. Capital World Investors now owns 1,496,479 shares of the medical research company’s stock worth $272,688,000 after purchasing an additional 1,268,095 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Icon by 26.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock worth $811,499,000 after purchasing an additional 975,268 shares during the period. Lyrical Asset Management LP bought a new stake in shares of Icon in the 4th quarter worth approximately $176,382,000. Finally, Norges Bank purchased a new position in Icon in the fourth quarter valued at approximately $160,073,000. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Icon Price Performance

Icon stock opened at $146.00 on Monday. The firm has a 50 day simple moving average of $125.26 and a 200 day simple moving average of $139.04. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.31. Icon Plc has a 1-year low of $66.57 and a 1-year high of $211.00. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 11.53 and a beta of 1.26.

Icon (NASDAQ:ICLR) last posted its earnings results on Wednesday, June 17th. The medical research company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.05. Icon had a return on equity of 9.50% and a net margin of 5.98%.The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the business posted $3.43 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts predict that Icon Plc will post 9.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ICLR. Weiss Ratings lowered Icon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Zacks Research cut Icon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada increased their price target on Icon from $123.00 to $126.00 and gave the stock a “sector perform” rating in a research note on Friday, May 29th. Truist Financial lifted their price objective on Icon from $139.00 to $159.00 and gave the stock a “hold” rating in a report on Friday, May 29th. Finally, DA Davidson set a $164.00 price objective on Icon in a research note on Monday, June 1st. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $156.44.

Icon Company Profile

Icon plc (NASDAQ: ICLR) is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon’s service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.