Marks Group Wealth Management Inc Has $8.30 Million Stock Holdings in Icon Plc $ICLR

Marks Group Wealth Management Inc reduced its holdings in shares of Icon Plc (NASDAQ:ICLR) by 13.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,554 shares of the medical research company’s stock after selling 7,190 shares during the quarter. Marks Group Wealth Management Inc owned 0.06% of Icon worth $8,301,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ICLR. Harris Associates L P acquired a new position in shares of Icon during the second quarter valued at about $238,256,000. Capital World Investors grew its holdings in shares of Icon by 555.2% during the fourth quarter. Capital World Investors now owns 1,496,479 shares of the medical research company’s stock valued at $272,688,000 after buying an additional 1,268,095 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Icon by 26.6% during 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 buying an additional 975,268 shares during the last quarter. Lyrical Asset Management LP acquired a new position in shares of Icon during the fourth quarter valued at about $176,382,000. Finally, Norges Bank acquired a new position in shares of Icon during the fourth quarter valued at about $160,073,000. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ICLR. BMO Capital Markets lifted their price objective on shares of Icon from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Zacks Research cut shares of Icon from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 25th. Robert W. Baird set a $119.00 price target on shares of Icon in a research report on Friday, February 13th. Leerink Partners set a $145.00 price target on shares of Icon in a research report on Thursday, May 28th. Finally, TD Cowen raised their price target on shares of Icon from $120.00 to $164.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $156.44.

Icon Stock Up 1.9%

ICLR opened at $152.24 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.10 and a quick ratio of 1.10. The company’s 50-day moving average is $118.50 and its 200 day moving average is $140.68. Icon Plc has a fifty-two week low of $66.57 and a fifty-two week high of $211.00. The firm has a market capitalization of $11.66 billion, a P/E ratio of 24.71, a PEG ratio of 11.81 and a beta of 1.26.

Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, June 10th. The medical research company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.47 by $0.05. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $1.99 billion. Icon had a net margin of 5.98% and a return on equity of 9.50%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.43 earnings per share. Research analysts expect that Icon Plc will post 9.74 earnings per share for the current fiscal year.

Icon Company 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.