Principal Financial Group Inc. lifted its stake in Icon Plc (NASDAQ:ICLR) by 20.6% during the 1st quarter, Holdings Channel reports. The fund owned 946,806 shares of the medical research company’s stock after purchasing an additional 161,558 shares during the quarter. Principal Financial Group Inc.’s holdings in Icon were worth $111,856,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ICLR. Gotham Asset Management LLC purchased a new stake in Icon during the 4th quarter worth approximately $209,000. We Are One Seven LLC purchased a new stake in Icon during the 4th quarter worth approximately $252,000. First National Bank of Omaha purchased a new stake in Icon during the 1st quarter worth approximately $279,000. Quantitative Systematic Strategies LLC purchased a new stake in Icon during the 1st quarter worth approximately $296,000. Finally, Dean Capital Investments Management LLC increased its stake in Icon by 51.0% during the 1st quarter. Dean Capital Investments Management LLC now owns 2,736 shares of the medical research company’s stock worth $323,000 after buying an additional 924 shares during the period. Hedge funds and other institutional investors own 87.15% of the company’s stock.

Shares of NASDAQ:ICLR opened at $140.14 on Friday. Icon Plc has a 52 week low of $97.12 and a 52 week high of $140.68. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.19 and a beta of 0.45.

Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Thursday, May 3rd. The medical research company reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.01. Icon had a net margin of 14.80% and a return on equity of 26.56%. The company had revenue of $620.13 million for the quarter, compared to the consensus estimate of $562.61 million. During the same period in the prior year, the firm posted $1.29 EPS. The company’s quarterly revenue was up 43.6% compared to the same quarter last year. research analysts forecast that Icon Plc will post 6.05 earnings per share for the current year.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Icon from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a research note on Thursday, July 5th. BidaskClub raised shares of Icon from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 22nd. Credit Suisse Group upped their target price on shares of Icon from $131.00 to $144.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 19th. KeyCorp upped their target price on shares of Icon from $130.00 to $152.00 and gave the stock an “overweight” rating in a research note on Monday, June 18th. Finally, Jefferies Financial Group upped their target price on shares of Icon to $150.00 and gave the stock a “buy” rating in a research note on Friday, June 1st. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Icon presently has a consensus rating of “Buy” and an average price target of $133.70.

Icon Profile

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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