WCM Investment Management LLC reduced its stake in shares of Icon Plc (NASDAQ:ICLR) by 37.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,318,129 shares of the medical research company’s stock after selling 1,953,957 shares during the quarter. Icon comprises 3.2% of WCM Investment Management LLC’s portfolio, making the stock its 10th biggest position. WCM Investment Management LLC owned 6.15% of Icon worth $453,189,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of Icon by 211.8% during the 4th quarter. CWM LLC now owns 212 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 144 shares in the last quarter. Truehand Inc bought a new position in shares of Icon during the 4th quarter valued at about $54,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Icon by 36.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 116 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Icon during the 4th quarter valued at about $64,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Icon during the 4th quarter valued at about $132,000. Institutional investors own 85.73% of the company’s stock.
Several equities analysts have recently weighed in on ICLR shares. BidaskClub cut Icon from a “hold” rating to a “sell” rating in a report on Saturday, April 13th. ValuEngine upgraded Icon from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Zacks Investment Research upgraded Icon from a “hold” rating to a “buy” rating and set a $146.00 target price on the stock in a research note on Wednesday, April 24th. Barclays boosted their target price on Icon from $140.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, March 18th. Finally, Wolfe Research began coverage on Icon in a research note on Tuesday, April 2nd. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $156.63.
Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, May 1st. The medical research company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. Icon had a return on equity of 25.71% and a net margin of 12.56%. The company had revenue of $674.85 million for the quarter, compared to analysts’ expectations of $668.93 million. During the same quarter in the prior year, the business posted $1.44 EPS. The business’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts expect that Icon Plc will post 6.87 EPS for the current year.
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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