8,000 Shares in Icon Plc $ICLR Bought by Irenic Capital Management LP

Irenic Capital Management LP purchased a new position in Icon Plc (NASDAQ:ICLR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,000 shares of the medical research company’s stock, valued at approximately $1,458,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ICLR. Toth Financial Advisory Corp bought a new stake in shares of Icon in the fourth quarter worth $27,000. EFG International AG bought a new stake in Icon during the fourth quarter valued at $27,000. Ameriflex Group Inc. bought a new stake in Icon during the third quarter valued at $33,000. Abound Financial LLC bought a new stake in Icon during the fourth quarter valued at $54,000. Finally, Johnson Financial Group Inc. bought a new stake in Icon during the third quarter valued at $71,000. Institutional investors own 95.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Leerink Partners set a $145.00 target price on shares of Icon in a research note on Thursday, May 28th. Weiss Ratings lowered shares of Icon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Bank of America reiterated an “outperform” rating on shares of Icon in a research note on Monday, June 1st. Citigroup boosted their target price on shares of Icon from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, TD Cowen boosted their target price on shares of Icon from $120.00 to $164.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $156.44.

Icon Stock Performance

Shares of ICLR opened at $143.27 on Thursday. Icon Plc has a 1 year low of $66.57 and a 1 year high of $211.00. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 11.34 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a fifty day moving average of $123.69 and a 200-day moving average of $139.54.

Icon (NASDAQ:ICLR) last announced its quarterly earnings results on Wednesday, June 17th. The medical research company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.05. Icon had a net margin of 5.98% and a return on equity of 9.50%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the company posted $3.43 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Icon Plc will post 9.74 earnings per share for the current 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.