Partner Investment Management L.P. grew its holdings in shares of Icon Plc (NASDAQ:ICLR) by 49.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,094 shares of the medical research company’s stock after buying an additional 2,022 shares during the period. Partner Investment Management L.P.’s holdings in Icon were worth $808,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fort L.P. bought a new stake in shares of Icon during the 2nd quarter valued at $121,000. Financial Gravity Wealth Inc. bought a new stake in shares of Icon during the 1st quarter valued at $179,000. Gideon Capital Advisors Inc. bought a new stake in shares of Icon during the 2nd quarter valued at $203,000. Hilltop Holdings Inc. bought a new stake in shares of Icon during the 2nd quarter valued at $212,000. Finally, Park Avenue Securities LLC bought a new stake in shares of Icon during the 2nd quarter valued at $221,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

ICLR opened at $148.15 on Thursday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $7.97 billion, a PE ratio of 27.49, a P/E/G ratio of 2.09 and a beta of 0.35. Icon Plc has a 1 year low of $101.22 and a 1 year high of $150.18.

Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, July 25th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.17). The company had revenue of $641.60 million during the quarter, compared to analysts’ expectations of $618.64 million. Icon had a return on equity of 26.35% and a net margin of 13.69%. Icon’s revenue for the quarter was up 48.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. sell-side analysts forecast that Icon Plc will post 6.08 earnings per share for the current fiscal year.

ICLR has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Icon from $154.00 to $157.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group boosted their target price on shares of Icon to $150.00 and gave the company a “buy” rating in a report on Friday, June 1st. Mizuho set a $146.00 target price on shares of Icon and gave the company a “hold” rating in a report on Monday, August 6th. BidaskClub upgraded shares of Icon from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. Finally, Credit Suisse Group boosted their target price on shares of Icon from $131.00 to $144.00 and gave the company an “outperform” rating in a report on Tuesday, June 19th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $146.22.

Icon Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.

Further Reading: Intrinsic Value

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Institutional Ownership by Quarter for Icon (NASDAQ:ICLR)

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