Marks Group Wealth Management Inc Purchases 4,647 Shares of Icon Plc $ICLR

Marks Group Wealth Management Inc lifted its position in shares of Icon Plc (NASDAQ:ICLR) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,201 shares of the medical research company’s stock after acquiring an additional 4,647 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Icon were worth $5,555,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its position in Icon by 26.6% in the third quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock valued at $811,499,000 after purchasing an additional 975,268 shares during the last quarter. Orbis Allan Gray Ltd grew its holdings in shares of Icon by 1.8% during the fourth quarter. Orbis Allan Gray Ltd now owns 4,214,661 shares of the medical research company’s stock worth $767,996,000 after purchasing an additional 75,843 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Icon by 9.6% during the fourth quarter. Invesco Ltd. now owns 3,756,896 shares of the medical research company’s stock worth $684,582,000 after purchasing an additional 329,266 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Icon by 10.3% in the first quarter. Principal Financial Group Inc. now owns 3,311,771 shares of the medical research company’s stock valued at $366,481,000 after buying an additional 310,236 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Icon by 8.7% in the fourth quarter. Franklin Resources Inc. now owns 2,993,336 shares of the medical research company’s stock valued at $545,410,000 after buying an additional 239,808 shares during the period. Institutional investors and hedge funds own 95.61% of the company’s stock.

Icon Trading Up 2.4%

Shares of ICLR stock opened at $172.08 on Thursday. The company has a market cap of $13.18 billion, a P/E ratio of 30.62, a PEG ratio of 8.24 and a beta of 1.22. The stock has a 50 day simple moving average of $144.41 and a two-hundred day simple moving average of $136.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. Icon Plc has a fifty-two week low of $66.57 and a fifty-two week high of $211.00.

Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Tuesday, June 23rd. The medical research company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.07. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Icon had a return on equity of 8.73% and a net margin of 5.35%.The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.43 EPS. Research analysts forecast that Icon Plc will post 9.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ICLR. Jefferies Financial Group reiterated a “buy” rating and set a $165.00 target price on shares of Icon in a research report on Friday, May 29th. TD Cowen upped their price target on shares of Icon from $164.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. DA Davidson set a $164.00 price target on shares of Icon in a research note on Monday, June 1st. Royal Bank Of Canada upgraded shares of Icon from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $126.00 to $185.00 in a report on Thursday, June 25th. Finally, Robert W. Baird boosted their price objective on shares of Icon from $168.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $173.19.

Icon Profile

Icon plc (NASDAQ: ICLR) is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon’s service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.