Polen Capital Management LLC acquired a new position in shares of Icon Plc (NASDAQ:ICLR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,539 shares of the medical research company’s stock, valued at approximately $737,000. Icon Plc accounts for about 0.0% of Polen Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. IFP Advisors Inc grew its stake in Icon Plc by 2.7% during the first quarter. IFP Advisors Inc now owns 2,232 shares of the medical research company’s stock worth $178,000 after buying an additional 59 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Icon Plc by 155.6% during the first quarter. Canada Pension Plan Investment Board now owns 13,140 shares of the medical research company’s stock worth $1,048,000 after purchasing an additional 8,000 shares in the last quarter. US Bancorp DE lifted its position in shares of Icon Plc by 15.0% during the first quarter. US Bancorp DE now owns 1,929 shares of the medical research company’s stock worth $154,000 after purchasing an additional 251 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Icon Plc by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 310,788 shares of the medical research company’s stock worth $24,777,000 after purchasing an additional 11,892 shares in the last quarter. Finally, World Asset Management Inc lifted its position in shares of Icon Plc by 1.8% during the first quarter. World Asset Management Inc now owns 3,455 shares of the medical research company’s stock worth $275,000 after purchasing an additional 60 shares in the last quarter. 90.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Icon Plc (NASDAQ ICLR) traded down 0.3679% during mid-day trading on Friday, reaching $111.1795. 153,331 shares of the company’s stock were exchanged. Icon Plc has a 52-week low of $73.76 and a 52-week high of $117.53. The company has a market cap of $6.01 billion, a PE ratio of 22.5516 and a beta of 0.61. The company’s 50-day moving average price is $108.03 and its 200 day moving average price is $93.24.
Icon Plc (NASDAQ:ICLR) last posted its quarterly earnings data on Thursday, July 27th. The medical research company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.01. Icon Plc had a return on equity of 28.72% and a net margin of 15.97%. The firm had revenue of $431.00 million for the quarter, compared to analysts’ expectations of $430.68 million. During the same period in the previous year, the firm earned $1.14 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts predict that Icon Plc will post $5.32 EPS for the current year.
A number of brokerages have recently issued reports on ICLR. Jefferies Group LLC reiterated a “buy” rating and set a $122.00 target price on shares of Icon Plc in a research report on Tuesday. Bank of America Corporation initiated coverage on shares of Icon Plc in a research note on Monday. They issued a “buy” rating and a $128.00 target price for the company. Zacks Investment Research raised shares of Icon Plc from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research note on Saturday, September 9th. ValuEngine raised shares of Icon Plc from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub raised shares of Icon Plc from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $113.67.
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About Icon Plc
ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.
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