Icon Plc (NASDAQ:ICLR) Stock Position Reduced by Earnest Partners LLC

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Earnest Partners LLC lessened its holdings in Icon Plc (NASDAQ:ICLR) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,103,983 shares of the medical research company’s stock after selling 35,408 shares during the quarter. Icon makes up about 2.9% of Earnest Partners LLC’s holdings, making the stock its largest position. Earnest Partners LLC owned 3.90% of Icon worth $323,950,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ICLR. SRS Capital Advisors Inc. purchased a new stake in shares of Icon during the 2nd quarter valued at $47,000. Coastal Capital Group Inc. purchased a new stake in shares of Icon during the 2nd quarter valued at $78,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Icon during the 2nd quarter valued at $172,000. DekaBank Deutsche Girozentrale grew its stake in shares of Icon by 72.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,328 shares of the medical research company’s stock valued at $201,000 after buying an additional 559 shares during the period. Finally, First Allied Advisory Services Inc. purchased a new stake in shares of Icon during the 1st quarter valued at $207,000. 83.54% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on the stock. Mizuho boosted their price objective on shares of Icon from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. BidaskClub lowered shares of Icon from a “buy” rating to a “hold” rating in a report on Saturday, September 7th. UBS Group upgraded shares of Icon from a “sell” rating to a “neutral” rating and lifted their target price for the company from $135.00 to $171.00 in a report on Friday, July 26th. KeyCorp lifted their target price on shares of Icon from $157.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Zacks Investment Research lowered shares of Icon from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $167.00.

Shares of ICLR stock opened at $149.41 on Friday. Icon Plc has a 12 month low of $118.10 and a 12 month high of $165.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $7.93 billion, a P/E ratio of 23.75, a P/E/G ratio of 2.02 and a beta of 0.63. The company’s fifty day moving average price is $155.40 and its two-hundred day moving average price is $144.72.

Icon (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.01. Icon had a net margin of 13.05% and a return on equity of 25.02%. The firm had revenue of $695.14 million for the quarter, compared to analyst estimates of $693.56 million. During the same quarter in the previous year, the business posted $1.51 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Icon Plc will post 6.88 EPS for the current year.

About Icon

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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Institutional Ownership by Quarter for Icon (NASDAQ:ICLR)

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