Sara Bay Financial Reduces Stock Holdings in ICON Public Limited (NASDAQ:ICLR)

Sara Bay Financial decreased its stake in ICON Public Limited (NASDAQ:ICLR) by 9.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,591 shares of the medical research company’s stock after selling 389 shares during the quarter. Sara Bay Financial’s holdings in ICON Public were worth $643,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sierra Ocean LLC purchased a new position in ICON Public during the 4th quarter valued at $29,000. Private Trust Co. NA boosted its holdings in ICON Public by 48.8% during the 4th quarter. Private Trust Co. NA now owns 250 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 82 shares during the period. NBC Securities Inc. purchased a new position in ICON Public during the 1st quarter valued at $59,000. Horizon Investments LLC boosted its holdings in ICON Public by 534.0% during the 4th quarter. Horizon Investments LLC now owns 653 shares of the medical research company’s stock valued at $137,000 after acquiring an additional 550 shares during the period. Finally, Transcend Capital Advisors LLC purchased a new position in ICON Public during the 4th quarter valued at $229,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.

ICON Public Stock Up 3.2%

Shares of ICLR stock opened at $139.11 on Friday. The stock’s 50-day simple moving average is $140.23 and its 200-day simple moving average is $179.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.34 and a current ratio of 1.26. The firm has a market capitalization of $11.23 billion, a PE ratio of 14.60, a P/E/G ratio of 1.86 and a beta of 1.15. ICON Public Limited has a fifty-two week low of $125.10 and a fifty-two week high of $347.72.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, April 30th. The medical research company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.17 by $0.02. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company earned $3.47 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. Equities analysts expect that ICON Public Limited will post 13.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. TD Cowen cut ICON Public from a “buy” rating to a “hold” rating and dropped their price objective for the company from $254.00 to $157.00 in a report on Monday, April 14th. Citigroup decreased their target price on ICON Public from $290.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Robert W. Baird decreased their target price on ICON Public from $192.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Barclays decreased their target price on ICON Public from $165.00 to $155.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group reduced their price target on ICON Public from $180.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $213.08.

About ICON Public

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company 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.