First Mercantile Trust Co. cut its stake in shares of ICON PLC (NASDAQ:ICLR) by 12.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 11,387 shares of the medical research company’s stock after selling 1,653 shares during the period. First Mercantile Trust Co.’s holdings in ICON PLC were worth $1,114,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Somerset Trust Co raised its position in shares of ICON PLC by 0.4% in the first quarter. Somerset Trust Co now owns 5,638 shares of the medical research company’s stock worth $449,000 after buying an additional 24 shares during the last quarter. IFP Advisors Inc raised its position in shares of ICON PLC by 2.7% in the first quarter. IFP Advisors Inc now owns 2,232 shares of the medical research company’s stock worth $178,000 after buying an additional 59 shares during the last quarter. World Asset Management Inc raised its position in shares of ICON PLC by 1.8% in the first quarter. World Asset Management Inc now owns 3,455 shares of the medical research company’s stock worth $275,000 after buying an additional 60 shares during the last quarter. Huntington National Bank raised its position in shares of ICON PLC by 5.0% in the second quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock worth $159,000 after buying an additional 77 shares during the last quarter. Finally, Sawtooth Solutions LLC raised its position in shares of ICON PLC by 1.0% in the first quarter. Sawtooth Solutions LLC now owns 10,556 shares of the medical research company’s stock worth $842,000 after buying an additional 102 shares during the last quarter. Institutional investors and hedge funds own 92.55% of the company’s stock.

ICON PLC (ICLR) opened at 101.40 on Friday. The firm has a 50-day moving average price of $100.50 and a 200-day moving average price of $89.05. The stock has a market capitalization of $5.48 billion, a PE ratio of 20.57 and a beta of 0.60. ICON PLC has a 52 week low of $73.76 and a 52 week high of $109.32.

ICON PLC (NASDAQ:ICLR) last announced its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.01. The company had revenue of $431 million during the quarter, compared to analyst estimates of $430.68 million. ICON PLC had a return on equity of 28.72% and a net margin of 15.97%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.14 earnings per share. Equities research analysts predict that ICON PLC will post $5.32 EPS for the current fiscal year.

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A number of equities research analysts recently commented on ICLR shares. Jefferies Group LLC raised ICON PLC from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $117.00 in a research report on Thursday, June 29th. Goldman Sachs Group, Inc. (The) raised ICON PLC from a “buy” rating to a “conviction-buy” rating and set a $117.00 target price for the company in a research report on Friday, July 7th. Credit Suisse Group reaffirmed an “outperform” rating and set a $102.00 target price (up from $91.00) on shares of ICON PLC in a research report on Tuesday, June 6th. Zacks Investment Research upgraded ICON PLC from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Tuesday, June 27th. Finally, BidaskClub upgraded ICON PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $108.38.

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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Institutional Ownership by Quarter for ICON PLC (NASDAQ:ICLR)

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