ICON PLC (ICLR) Shares Sold by Royal Bank of Canada
Royal Bank of Canada lessened its holdings in ICON PLC (NASDAQ:ICLR) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,455 shares of the medical research company’s stock after selling 1,036 shares during the quarter. Royal Bank of Canada owned 0.12% of ICON PLC worth $6,107,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Shine Investment Advisory Services Inc. acquired a new stake in shares of ICON PLC during the 2nd quarter valued at $103,000. Acrospire Investment Management LLC boosted its holdings in shares of ICON PLC by 20.1% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock valued at $117,000 after acquiring an additional 200 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of ICON PLC by 20.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,265 shares of the medical research company’s stock valued at $133,000 after acquiring an additional 217 shares in the last quarter. US Bancorp DE boosted its holdings in shares of ICON PLC by 15.0% during the 1st quarter. US Bancorp DE now owns 1,929 shares of the medical research company’s stock valued at $154,000 after acquiring an additional 251 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in shares of ICON PLC by 5.0% during the 2nd quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock valued at $159,000 after acquiring an additional 77 shares in the last quarter. 91.54% of the stock is currently owned by hedge funds and other institutional investors.
ICON PLC (NASDAQ:ICLR) opened at 113.63 on Friday. ICON PLC has a 12 month low of $73.76 and a 12 month high of $117.53. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 23.05 and a beta of 0.59. The company’s 50-day moving average price is $113.50 and its 200 day moving average price is $99.29.
ICON PLC (NASDAQ:ICLR) last posted its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.01. ICON PLC had a net margin of 15.97% and a return on equity of 28.72%. The business had revenue of $431.00 million during the quarter, compared to analyst estimates of $430.68 million. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that ICON PLC will post $5.32 EPS for the current fiscal year.
Several equities research analysts recently weighed in on ICLR shares. Zacks Investment Research downgraded ICON PLC from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Jefferies Group LLC reissued a “buy” rating and set a $122.00 price objective on shares of ICON PLC in a report on Tuesday, September 12th. Bank of America Corporation started coverage on ICON PLC in a report on Monday, September 11th. They set a “buy” rating and a $128.00 price objective on the stock. BidaskClub raised ICON PLC from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Finally, Credit Suisse Group reissued a “buy” rating on shares of ICON PLC in a report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $119.33.
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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