Groesbeck Investment Management Corp NJ Acquires 290 Shares of ICON Public Limited (NASDAQ:ICLR)

Groesbeck Investment Management Corp NJ increased its position in ICON Public Limited (NASDAQ:ICLR) by 15.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,186 shares of the medical research company’s stock after buying an additional 290 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in ICON Public were worth $619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of ICLR. Laurel Wealth Advisors Inc. raised its stake in shares of ICON Public by 2.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 2,708 shares of the medical research company’s stock worth $658,000 after acquiring an additional 54 shares during the last quarter. KB Financial Partners LLC raised its position in ICON Public by 23.4% during the first quarter. KB Financial Partners LLC now owns 1,742 shares of the medical research company’s stock worth $424,000 after acquiring an additional 330 shares in the last quarter. Captrust Financial Advisors raised its position in ICON Public by 4.8% during the second quarter. Captrust Financial Advisors now owns 28,338 shares of the medical research company’s stock worth $6,141,000 after acquiring an additional 1,296 shares in the last quarter. Alpha Paradigm Partners LLC bought a new position in shares of ICON Public in the third quarter valued at about $123,000. Finally, Chartwell Investment Partners LLC bought a new position in shares of ICON Public in the fourth quarter valued at about $794,000. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on ICLR. JPMorgan Chase & Co. raised their price target on shares of ICON Public from $295.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 20th. Evercore ISI raised their price target on shares of ICON Public from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Truist Financial lifted their target price on shares of ICON Public from $357.00 to $367.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Barclays raised their price target on shares of ICON Public from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Mizuho reiterated a “buy” rating and issued a $346.00 price objective on shares of ICON Public in a research note on Thursday, April 4th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $319.45.

ICON Public Stock Up 1.6 %

ICON Public stock traded up $4.54 on Thursday, hitting $296.56. 228,625 shares of the stock traded hands, compared to its average volume of 539,144. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.40. The firm has a market cap of $24.47 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 1.39 and a beta of 1.15. The business’s fifty day simple moving average is $316.39 and its 200 day simple moving average is $280.17. ICON Public Limited has a 1 year low of $181.92 and a 1 year high of $344.77.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, February 21st. The medical research company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.27 by $0.13. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.08 billion. ICON Public had a return on equity of 11.42% and a net margin of 7.54%. As a group, sell-side analysts forecast that ICON Public Limited will post 14.4 earnings per share for the current year.

ICON Public Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company 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.