Cetera Advisor Networks LLC cut its holdings in Icon Plc (NASDAQ:ICLR) by 13.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,490 shares of the medical research company’s stock after selling 549 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Icon were worth $478,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of ICLR. CWM LLC lifted its stake in Icon by 211.8% in the fourth quarter. CWM LLC now owns 212 shares of the medical research company’s stock valued at $27,000 after buying an additional 144 shares during the period. Truehand Inc acquired a new position in Icon in the fourth quarter valued at approximately $54,000. Benjamin F. Edwards & Company Inc. lifted its stake in Icon by 36.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the medical research company’s stock valued at $56,000 after buying an additional 116 shares during the period. Ellis Investment Partners LLC acquired a new position in Icon in the first quarter valued at approximately $59,000. Finally, NumerixS Investment Technologies Inc acquired a new position in Icon in the fourth quarter valued at approximately $64,000. 87.65% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on ICLR. SunTrust Banks reissued a “buy” rating and issued a $161.00 price target on shares of Icon in a research note on Monday, February 25th. BidaskClub raised Icon from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Barclays boosted their price target on Icon from $140.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, March 18th. Zacks Investment Research lowered Icon from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, ValuEngine raised Icon from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Icon currently has an average rating of “Buy” and an average price target of $153.20.
Icon (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, May 1st. The medical research company reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.03. The firm had revenue of $674.85 million during the quarter, compared to the consensus estimate of $668.93 million. Icon had a return on equity of 25.71% and a net margin of 12.56%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.44 earnings per share. On average, equities analysts anticipate that Icon Plc will post 6.87 earnings per share for the current fiscal year.
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ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It 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.
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