Systematic Financial Management LP lowered its stake in Icon Plc (NASDAQ:ICLR) by 33.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,645 shares of the medical research company’s stock after selling 40,923 shares during the quarter. Systematic Financial Management LP owned approximately 0.15% of Icon worth $10,555,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Icon by 8.2% in the 4th quarter. BlackRock Inc. now owns 39,201 shares of the medical research company’s stock valued at $4,397,000 after buying an additional 2,961 shares in the last quarter. Wesbanco Bank Inc. purchased a new stake in Icon in the 1st quarter valued at approximately $2,159,000. Bank of Montreal Can lifted its stake in Icon by 4.8% in the 2nd quarter. Bank of Montreal Can now owns 177,327 shares of the medical research company’s stock valued at $23,501,000 after buying an additional 8,093 shares in the last quarter. Employees Retirement System of Texas lifted its stake in Icon by 15.6% in the 1st quarter. Employees Retirement System of Texas now owns 52,000 shares of the medical research company’s stock valued at $6,143,000 after buying an additional 7,000 shares in the last quarter. Finally, Atria Investments LLC lifted its stake in Icon by 28.3% in the 2nd quarter. Atria Investments LLC now owns 5,532 shares of the medical research company’s stock valued at $733,000 after buying an additional 1,220 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ICLR opened at $142.94 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 2.10 and a beta of 0.40. Icon Plc has a fifty-two week low of $101.22 and a fifty-two week high of $149.69.

Icon (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, July 25th. The medical research company reported $1.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.17). The business had revenue of $641.60 million during the quarter, compared to analyst estimates of $618.64 million. Icon had a net margin of 13.69% and a return on equity of 26.35%. The company’s revenue was up 48.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 earnings per share. analysts forecast that Icon Plc will post 6.08 EPS for the current year.

ICLR has been the topic of a number of recent research reports. BidaskClub raised Icon from a “hold” rating to a “buy” rating in a research note on Thursday, May 3rd. Robert W. Baird reaffirmed a “buy” rating and issued a $154.00 target price on shares of Icon in a research note on Thursday, July 26th. SunTrust Banks upped their target price on Icon to $153.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Zacks Investment Research raised 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. Finally, Jefferies Financial Group boosted their price target on Icon to $150.00 and gave the company a “buy” rating in a report on Friday, June 1st. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $143.60.

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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