Advisory Services Network LLC Decreases Stake in Icon Plc (ICLR)
Advisory Services Network LLC reduced its position in Icon Plc (NASDAQ:ICLR) by 10.2% during the second quarter, Holdings Channel reports. The fund owned 11,950 shares of the company’s stock after selling 1,350 shares during the period. Advisory Services Network LLC’s holdings in Icon Plc were worth $837,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the company. Groesbeck Investment Management Corp NJ bought a new position in shares of Icon Plc during the first quarter worth $267,000. UBS Asset Management Americas Inc. bought a new position in shares of Icon Plc during the first quarter worth $19,125,000. Credit Agricole S A raised its position in shares of Icon Plc by 58.7% in the first quarter. Credit Agricole S A now owns 399,973 shares of the company’s stock worth $30,038,000 after buying an additional 147,886 shares during the last quarter. William Harris Investors Inc. raised its position in shares of Icon Plc by 3.4% in the first quarter. William Harris Investors Inc. now owns 47,305 shares of the company’s stock worth $3,553,000 after buying an additional 1,557 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. raised its position in shares of Icon Plc by 2,492.1% in the first quarter. C M Bidwell & Associates Ltd. now owns 31,365 shares of the company’s stock worth $2,356,000 after buying an additional 30,155 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.
Icon Plc (NASDAQ:ICLR) traded down 1.02% during trading on Monday, hitting $76.58. 312,479 shares of the stock were exchanged. The firm has a market cap of $4.25 billion, a PE ratio of 17.70 and a beta of 0.66. Icon Plc has a 52 week low of $62.31 and a 52 week high of $79.61. The firm’s 50-day moving average is $76.22 and its 200 day moving average is $71.90.
Icon Plc (NASDAQ:ICLR) last announced its earnings results on Tuesday, July 26th. The company reported $1.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.14. Icon Plc had a net margin of 15.70% and a return on equity of 29.89%. The business earned $411 million during the quarter, compared to the consensus estimate of $409.97 million. During the same quarter last year, the firm earned $0.95 earnings per share. Icon Plc’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts expect that Icon Plc will post $4.70 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on ICLR. Zacks Investment Research raised shares of Icon Plc from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Wednesday, September 28th. KeyCorp reaffirmed a “buy” rating and issued a $85.00 target price on shares of Icon Plc in a research note on Wednesday, July 27th. Jefferies Group upped their target price on shares of Icon Plc from $78.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Evercore ISI upped their target price on shares of Icon Plc from $76.00 to $81.50 and gave the stock a “hold” rating in a research note on Tuesday, July 26th. Finally, Avondale Partners lowered shares of Icon Plc from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $70.00 to $59.00 in a research note on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $79.31.
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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