Principal Financial Group Inc. continued to hold its stake in shares of Icon PLC (NASDAQ:ICLR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 342,406 shares of the company’s stock at the end of the second quarter. Principal Financial Group Inc. owned approximately 0.62% of Icon PLC worth $23,972,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of ICLR. Societe Generale purchased a new position in Icon PLC during the second quarter valued at approximately $129,000. SG Americas Securities LLC bought a new position in shares of Icon PLC during the second quarter worth about $129,000. Invictus RG bought a new position in shares of Icon PLC during the first quarter worth about $136,000. Creative Planning increased its position in shares of Icon PLC by 91.1% in the second quarter. Creative Planning now owns 2,073 shares of the company’s stock worth $145,000 after buying an additional 988 shares in the last quarter. Finally, Acrospire Investment Management LLC bought a new position in shares of Icon PLC during the first quarter worth about $158,000. 93.78% of the stock is owned by hedge funds and other institutional investors.
Shares of Icon PLC (NASDAQ:ICLR) traded up 0.14% during mid-day trading on Thursday, reaching $77.39. The company’s stock had a trading volume of 52,596 shares. The company’s 50-day moving average is $76.21 and its 200-day moving average is $71.84. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 17.89 and a beta of 0.92. Icon PLC has a 52 week low of $62.31 and a 52 week high of $79.61.
Icon PLC (NASDAQ:ICLR) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.14 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.14. Icon PLC had a net margin of 15.70% and a return on equity of 29.89%. The company earned $411 million during the quarter, compared to the consensus estimate of $409.97 million. During the same period last year, the firm earned $0.95 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts predict that Icon PLC will post $4.70 EPS for the current year.
ICLR has been the topic of a number of analyst reports. Jefferies Group downgraded Icon PLC from a “buy” rating to a “hold” rating and cut their price target for the company from $80.00 to $78.00 in a report on Friday, June 3rd. Avondale Partners downgraded Icon PLC from a “market perform” rating to an “underperform” rating and cut their price target for the company from $70.00 to $59.00 in a report on Wednesday, June 8th. Credit Suisse Group AG initiated coverage on Icon PLC in a report on Monday, June 20th. They issued an “outperform” rating and a $80.00 price target on the stock. Robert W. Baird reiterated an “outperform” rating and issued a $83.00 price target on shares of Icon PLC in a report on Monday, June 27th. Finally, Evercore ISI lifted their price target on Icon PLC from $76.00 to $81.50 and gave the company a “hold” rating in a report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Icon PLC presently has an average rating of “Hold” and a consensus price target of $79.31.
Icon PLC Company Profile
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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