Blue Jay Capital Management LLC Invests $6.19 Million in Icon Plc (ICLR)
Blue Jay Capital Management LLC bought a new position in shares of Icon Plc (NASDAQ:ICLR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 63,342 shares of the medical research company’s stock, valued at approximately $6,194,000. Icon Plc accounts for 4.2% of Blue Jay Capital Management LLC’s portfolio, making the stock its 16th largest position. Blue Jay Capital Management LLC owned about 0.12% of Icon Plc at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of ICLR. Renaissance Technologies LLC grew its holdings in shares of Icon Plc by 252.6% during the 1st quarter. Renaissance Technologies LLC now owns 955,860 shares of the medical research company’s stock worth $76,201,000 after acquiring an additional 684,760 shares during the period. FMR LLC grew its holdings in shares of Icon Plc by 38.4% during the 2nd quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock worth $224,037,000 after acquiring an additional 635,950 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Icon Plc by 45.2% during the 1st quarter. Clearbridge Investments LLC now owns 1,594,656 shares of the medical research company’s stock worth $127,126,000 after acquiring an additional 496,700 shares during the period. WCM Investment Management CA grew its holdings in shares of Icon Plc by 6.8% during the 2nd quarter. WCM Investment Management CA now owns 3,965,106 shares of the medical research company’s stock worth $387,747,000 after acquiring an additional 252,853 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of Icon Plc by 166.8% during the 1st quarter. Point72 Asset Management L.P. now owns 369,500 shares of the medical research company’s stock worth $29,457,000 after acquiring an additional 231,000 shares during the period. Hedge funds and other institutional investors own 90.61% of the company’s stock.
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A number of research firms have weighed in on ICLR. Jefferies Group LLC reiterated a “buy” rating on shares of Icon Plc in a report on Sunday, July 30th. Zacks Investment Research upgraded Icon Plc from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Friday, September 1st. SunTrust Banks, Inc. upgraded Icon Plc from a “hold” rating to a “buy” rating and upped their target price for the stock from $93.00 to $126.00 in a report on Monday, July 31st. Robert W. Baird reduced their target price on Icon Plc from $107.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 9th. Finally, Mizuho upped their target price on Icon Plc from $104.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Icon Plc presently has an average rating of “Buy” and an average price target of $113.00.
Icon Plc (ICLR) traded down 0.64% during mid-day trading on Friday, hitting $110.97. The company had a trading volume of 227,723 shares. The company has a 50 day moving average of $108.70 and a 200 day moving average of $93.99. The firm has a market capitalization of $6.00 billion, a PE ratio of 22.51 and a beta of 0.61. Icon Plc has a 1-year low of $73.76 and a 1-year high of $117.53.
Icon Plc (NASDAQ:ICLR) last issued its quarterly earnings data on Thursday, July 27th. The medical research company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. The company had revenue of $431.00 million during the quarter, compared to the consensus estimate of $430.68 million. Icon Plc had a net margin of 15.97% and a return on equity of 28.72%. Icon Plc’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Analysts predict that Icon Plc will post $5.32 earnings per share for the current fiscal year.
Icon Plc Profile
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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