USA Financial Portformulas Corp Invests $278,000 in Icon Plc (ICLR)
USA Financial Portformulas Corp acquired a new position in Icon Plc (NASDAQ:ICLR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,437 shares of the medical research company’s stock, valued at approximately $278,000.
Several other hedge funds have also bought and sold shares of ICLR. Geode Capital Management LLC raised its position in shares of Icon Plc by 14.7% in the 1st quarter. Geode Capital Management LLC now owns 28,777 shares of the medical research company’s stock worth $2,294,000 after acquiring an additional 3,680 shares in the last quarter. Morgan Stanley raised its position in shares of Icon Plc by 89.8% in the 1st quarter. Morgan Stanley now owns 147,238 shares of the medical research company’s stock worth $11,737,000 after acquiring an additional 69,669 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Icon Plc by 22.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 12,021 shares of the medical research company’s stock worth $959,000 after acquiring an additional 2,181 shares in the last quarter. State Street Corp raised its position in shares of Icon Plc by 6.9% in the 1st quarter. State Street Corp now owns 372,469 shares of the medical research company’s stock worth $29,693,000 after acquiring an additional 23,901 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Icon Plc by 102.9% in the 1st quarter. HighTower Advisors LLC now owns 6,423 shares of the medical research company’s stock worth $512,000 after acquiring an additional 3,257 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.
Shares of Icon Plc (ICLR) opened at $113.81 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $6,246.98, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 1.78 and a beta of 0.56. Icon Plc has a twelve month low of $73.76 and a twelve month high of $124.48.
Icon Plc (NASDAQ:ICLR) last issued its quarterly earnings data on Thursday, October 26th. The medical research company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. The firm had revenue of $440.30 million during the quarter, compared to analyst estimates of $438.09 million. Icon Plc had a return on equity of 28.42% and a net margin of 16.37%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 EPS. sell-side analysts predict that Icon Plc will post 5.36 earnings per share for the current fiscal year.
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ICLR has been the subject of a number of research analyst reports. Zacks Investment Research lowered Icon Plc from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $138.00 target price on shares of Icon Plc in a research report on Sunday, October 29th. Barclays PLC boosted their target price on Icon Plc from $108.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, October 27th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $120.00 target price (up from $105.00) on shares of Icon Plc in a research report on Monday, October 16th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $123.00 target price on shares of Icon Plc in a research report on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $120.60.
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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