Cambiar Investors LLC Acquires 675 Shares of Icon PLC (ICLR)
Cambiar Investors LLC boosted its stake in shares of Icon PLC (NASDAQ:ICLR) by 15.6% during the second quarter, Holdings Channel reports. The fund owned 5,015 shares of the company’s stock after buying an additional 675 shares during the period. Cambiar Investors LLC’s holdings in Icon PLC were worth $351,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of ICLR. Invictus RG purchased a new stake in shares of Icon PLC during the first quarter valued at $136,000. Creative Planning increased its stake in shares of Icon PLC by 91.1% in the second quarter. Creative Planning now owns 2,073 shares of the company’s stock valued at $145,000 after buying an additional 988 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Icon PLC during the first quarter valued at $158,000. Groesbeck Investment Management Corp NJ purchased a new stake in shares of Icon PLC during the first quarter valued at $267,000. Finally, IFP Advisors Inc increased its stake in shares of Icon PLC by 8.8% in the first quarter. IFP Advisors Inc now owns 4,037 shares of the company’s stock valued at $303,000 after buying an additional 326 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of Icon PLC (NASDAQ:ICLR) traded down 0.01% during trading on Tuesday, reaching $76.57. 397,099 shares of the company’s stock were exchanged. The firm has a market capitalization 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 company’s 50-day moving average price is $76.21 and its 200 day moving average price is $72.00.
Icon PLC (NASDAQ:ICLR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.14 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.14. Icon PLC had a net margin of 15.70% and a return on equity of 29.89%. The company earned $411 million during the quarter, compared to analyst estimates of $409.97 million. During the same quarter last year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts predict that Icon PLC will post $4.70 EPS for the current fiscal year.
Several brokerages have recently weighed in on ICLR. Jefferies Group reaffirmed a “hold” rating and issued a $78.00 target price on shares of Icon PLC in a report on Friday, June 10th. Evercore ISI boosted their price objective on shares of Icon PLC from $76.00 to $81.50 and gave the stock a “hold” rating in a report on Tuesday, July 26th. Zacks Investment Research raised shares of Icon PLC from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Wednesday, September 28th. KeyCorp reissued a “buy” rating and set a $85.00 price objective on shares of Icon PLC in a report on Wednesday, July 27th. Finally, Robert W. Baird reissued an “outperform” rating and set a $83.00 price objective on shares of Icon PLC in a report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target 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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