Ruane Cunniff & Goldfarb L.P. Has $306.06 Million Stock Holdings in Icon Plc $ICLR

Ruane Cunniff & Goldfarb L.P. cut its stake in shares of Icon Plc (NASDAQ:ICLR) by 1.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,679,590 shares of the medical research company’s stock after selling 21,404 shares during the period. Icon comprises about 4.8% of Ruane Cunniff & Goldfarb L.P.’s holdings, making the stock its 9th largest position. Ruane Cunniff & Goldfarb L.P.’s holdings in Icon were worth $306,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Toth Financial Advisory Corp bought a new stake in Icon in the 4th quarter worth about $27,000. Ameriflex Group Inc. purchased a new position in Icon in the third quarter worth about $33,000. Johnson Financial Group Inc. purchased a new position in Icon in the third quarter worth about $71,000. Quadrant Capital Group LLC purchased a new position in Icon in the third quarter worth about $78,000. Finally, Geneos Wealth Management Inc. boosted its position in Icon by 11.5% in the second quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock worth $79,000 after purchasing an additional 56 shares during the last quarter. 95.61% of the stock is currently owned by institutional investors.

Icon Stock Down 2.5%

ICLR stock opened at $146.18 on Friday. Icon Plc has a twelve month low of $66.57 and a twelve month high of $211.00. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.31. The stock has a market cap of $11.19 billion, a P/E ratio of 23.73, a PEG ratio of 11.84 and a beta of 1.26. The business’s 50-day moving average price is $121.76 and its 200-day moving average price is $140.47.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, June 17th. The medical research company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the firm earned $3.43 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that Icon Plc will post 9.74 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. TD Cowen raised their target price on Icon from $120.00 to $164.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Jefferies Financial Group reissued a “buy” rating and issued a $165.00 target price on shares of Icon in a research report on Friday, May 29th. Citigroup raised their target price on Icon from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Barclays raised their target price on Icon from $120.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Finally, Royal Bank Of Canada raised their target price on Icon from $123.00 to $126.00 and gave the stock a “sector perform” rating in a research report on Friday, May 29th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $156.44.

Icon Company 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.