Ramsey Quantitative Systems acquired a new position in Icon Plc (NASDAQ:ICLR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,846 shares of the medical research company’s stock, valued at approximately $438,000. Icon comprises about 0.4% of Ramsey Quantitative Systems’ holdings, making the stock its 27th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of ICLR. Marietta Investment Partners LLC raised its stake in Icon by 18.3% during the 2nd quarter. Marietta Investment Partners LLC now owns 2,472 shares of the medical research company’s stock worth $328,000 after acquiring an additional 382 shares during the period. Fisher Asset Management LLC raised its stake in Icon by 1.9% during the 2nd quarter. Fisher Asset Management LLC now owns 21,316 shares of the medical research company’s stock worth $2,825,000 after acquiring an additional 400 shares during the period. Cambiar Investors LLC raised its stake in Icon by 9.9% during the 2nd quarter. Cambiar Investors LLC now owns 4,498 shares of the medical research company’s stock worth $596,000 after acquiring an additional 405 shares during the period. CIBC Private Wealth Group LLC raised its stake in Icon by 0.5% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 80,342 shares of the medical research company’s stock worth $10,648,000 after acquiring an additional 405 shares during the period. Finally, BB&T Corp raised its stake in Icon by 11.5% during the 3rd quarter. BB&T Corp now owns 4,116 shares of the medical research company’s stock worth $632,000 after acquiring an additional 425 shares during the period. 87.91% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on ICLR shares. BidaskClub upgraded shares of Icon from a “hold” rating to a “buy” rating in a research note on Wednesday, September 5th. Robert W. Baird restated a “buy” rating and set a $154.00 target price on shares of Icon in a research note on Thursday, July 26th. SunTrust Banks raised their target price on shares of Icon to $153.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of Icon from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a research note on Thursday, July 5th. Finally, Mizuho set a $146.00 target price on shares of Icon and gave the stock a “hold” rating in a research note on Monday, August 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $146.10.

Shares of Icon stock traded down $1.99 on Wednesday, hitting $147.17. 191,548 shares of the company traded hands, compared to its average volume of 254,936. The stock has a market cap of $8.31 billion, a P/E ratio of 27.30, a PEG ratio of 2.21 and a beta of 0.31. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.10 and a quick ratio of 2.10. Icon Plc has a 52 week low of $101.22 and a 52 week high of $155.33.

Icon (NASDAQ:ICLR) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $618.64 million. Icon had a net margin of 13.69% and a return on equity of 26.35%. The company’s quarterly revenue was up 48.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 EPS. As a group, equities analysts expect that Icon Plc will post 6.08 EPS for the current year.

About Icon

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: How are Outstanding Shares Different from Authorized Shares?

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Institutional Ownership by Quarter for Icon (NASDAQ:ICLR)

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