Hudson Edge Investment Partners Inc. Has $35.30 Million Stake in Icon Plc $ICLR

Hudson Edge Investment Partners Inc. lifted its stake in Icon Plc (NASDAQ:ICLR) by 22.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 319,003 shares of the medical research company’s stock after purchasing an additional 58,554 shares during the quarter. Icon comprises 5.2% of Hudson Edge Investment Partners Inc.’s portfolio, making the stock its 5th biggest holding. Hudson Edge Investment Partners Inc. owned about 0.40% of Icon worth $35,301,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in Icon by 26.6% in the third quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock worth $811,499,000 after buying an additional 975,268 shares during the last quarter. Orbis Allan Gray Ltd increased its position in Icon by 1.8% during the fourth quarter. Orbis Allan Gray Ltd now owns 4,214,661 shares of the medical research company’s stock valued at $767,996,000 after acquiring an additional 75,843 shares during the last quarter. Invesco Ltd. increased its position in Icon by 9.6% during the fourth quarter. Invesco Ltd. now owns 3,756,896 shares of the medical research company’s stock valued at $684,582,000 after acquiring an additional 329,266 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Icon by 8.7% in the fourth quarter. Franklin Resources Inc. now owns 2,993,336 shares of the medical research company’s stock valued at $545,410,000 after acquiring an additional 239,808 shares during the period. Finally, Harris Associates L P raised its stake in shares of Icon by 7.2% in the fourth quarter. Harris Associates L P now owns 2,510,166 shares of the medical research company’s stock valued at $457,402,000 after acquiring an additional 167,607 shares during the period. Institutional investors own 95.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ICLR shares. Mizuho upped their price target on shares of Icon from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, June 26th. Citigroup raised their price objective on shares of Icon from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Piper Sandler lowered Icon to a “neutral” rating in a research report on Thursday, May 28th. Barclays upped their target price on Icon from $160.00 to $175.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Finally, TD Cowen increased their price target on Icon from $164.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $173.19.

Icon Stock Performance

Shares of ICLR opened at $173.06 on Friday. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 8.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14. Icon Plc has a 1-year low of $66.57 and a 1-year high of $211.00. The company has a 50-day moving average of $135.33 and a 200 day moving average of $137.87.

Icon (NASDAQ:ICLR) last issued its earnings results on Tuesday, June 23rd. The medical research company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.07. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.98 billion. Icon had a net margin of 5.35% and a return on equity of 8.73%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.43 EPS. On average, research analysts expect that Icon Plc will post 9.43 EPS for the current year.

Icon 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.