Bamco Inc. NY Cuts Holdings in Icon Plc $ICLR

Bamco Inc. NY lowered its position in Icon Plc (NASDAQ:ICLR) by 22.0% in the fourth quarter, HoldingsChannel reports. The fund owned 534,248 shares of the medical research company’s stock after selling 150,693 shares during the quarter. Bamco Inc. NY’s holdings in Icon were worth $97,351,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Toth Financial Advisory Corp acquired a new position in Icon in the 4th quarter worth about $27,000. EFG International AG acquired a new stake in Icon in the fourth quarter valued at approximately $27,000. Ameriflex Group Inc. acquired a new stake in Icon in the third quarter valued at approximately $33,000. Abound Financial LLC purchased a new stake in shares of Icon in the fourth quarter valued at approximately $54,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Icon in the third quarter valued at approximately $71,000. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ICLR. JPMorgan Chase & Co. increased their target price on Icon from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. DA Davidson set a $164.00 price target on shares of Icon in a report on Monday, June 1st. Citigroup upped their price objective on shares of Icon from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Leerink Partners set a $145.00 price objective on shares of Icon in a report on Thursday, May 28th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $165.00 target price on shares of Icon in a research note on Friday, May 29th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $156.44.

Icon Stock Performance

Shares of NASDAQ:ICLR opened at $143.27 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.10 and a quick ratio of 1.10. Icon Plc has a 1 year low of $66.57 and a 1 year high of $211.00. The firm has a market capitalization of $10.97 billion, a PE ratio of 23.26, a P/E/G ratio of 11.34 and a beta of 1.26. The business’s 50 day moving average price is $123.69 and its 200-day moving average price is $139.54.

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

Icon 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.