Cornerstone Capital Management Holdings LLC. Cuts Position in Icon Plc (ICLR)
Cornerstone Capital Management Holdings LLC. lessened its holdings in Icon Plc (NASDAQ:ICLR) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 409,396 shares of the medical research company’s stock after selling 15,032 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.76% of Icon worth $46,622,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. First Republic Investment Management Inc. grew its stake in Icon by 22.3% in the 3rd quarter. First Republic Investment Management Inc. now owns 7,988 shares of the medical research company’s stock valued at $910,000 after acquiring an additional 1,458 shares during the period. Lenox Wealth Management Inc. grew its stake in Icon by 24.1% in the 3rd quarter. Lenox Wealth Management Inc. now owns 8,350 shares of the medical research company’s stock valued at $950,000 after acquiring an additional 1,624 shares during the period. Polen Capital Management LLC lifted its holdings in Icon by 246.5% in the 3rd quarter. Polen Capital Management LLC now owns 26,122 shares of the medical research company’s stock valued at $2,975,000 after purchasing an additional 18,583 shares in the last quarter. Stifel Financial Corp lifted its holdings in Icon by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 36,545 shares of the medical research company’s stock valued at $4,160,000 after purchasing an additional 763 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in Icon by 12.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 869,018 shares of the medical research company’s stock valued at $98,964,000 after purchasing an additional 94,345 shares in the last quarter. Institutional investors own 89.95% of the company’s stock.
Shares of Icon Plc (NASDAQ:ICLR) opened at $111.14 on Friday. The firm has a market capitalization of $6,092.64, a P/E ratio of 21.59, a P/E/G ratio of 1.74 and a beta of 0.56. Icon Plc has a 52 week low of $73.76 and a 52 week high of $124.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.90 and a current ratio of 1.90.
Icon (NASDAQ:ICLR) last posted its earnings results on Thursday, October 26th. The medical research company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.03. The firm had revenue of $440.30 million during the quarter, compared to analysts’ expectations of $438.09 million. Icon had a return on equity of 28.42% and a net margin of 16.37%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. analysts forecast that Icon Plc will post 5.36 EPS for the current year.
A number of brokerages have weighed in on ICLR. KeyCorp restated an “overweight” rating and issued a $125.00 price objective (up previously from $115.00) on shares of Icon in a report on Monday, November 13th. They noted that the move was a valuation call. Zacks Investment Research lowered Icon from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. SunTrust Banks restated a “buy” rating and issued a $138.00 price objective on shares of Icon in a report on Sunday, October 29th. Barclays boosted their price objective on shares of Icon from $108.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $120.00 price objective (up from $105.00) on shares of Icon in a report on Monday, October 16th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $121.00.
TRADEMARK VIOLATION NOTICE: This article was originally published by Daily Political and is owned by of Daily Political. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.dailypolitical.com/2017/12/08/cornerstone-capital-management-holdings-llc-cuts-position-in-icon-plc-iclr.html.
Icon Company 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.
Want to see what other hedge funds are holding ICLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Icon Plc (NASDAQ:ICLR).
Receive News & Ratings for Icon Plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Icon Plc and related companies with MarketBeat.com's FREE daily email newsletter.