Trinity Street Asset Management LLP Purchases 135,720 Shares of Icon Plc $ICLR

Trinity Street Asset Management LLP grew its holdings in shares of Icon Plc (NASDAQ:ICLR) by 12.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,208,148 shares of the medical research company’s stock after buying an additional 135,720 shares during the period. Icon accounts for about 9.2% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 5th biggest holding. Trinity Street Asset Management LLP owned 1.50% of Icon worth $133,694,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ICLR. Toth Financial Advisory Corp bought a new stake in Icon during the 4th quarter valued at $27,000. EFG International AG acquired a new position in Icon during the 4th quarter worth $27,000. Ameriflex Group Inc. bought a new position in shares of Icon in the third quarter worth $33,000. Abound Financial LLC bought a new position in shares of Icon in the fourth quarter worth $54,000. Finally, Johnson Financial Group Inc. bought a new position in Icon in the 3rd quarter valued at about $71,000. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada raised shares of Icon from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $126.00 to $185.00 in a research note on Thursday, June 25th. Robert W. Baird boosted their target price on Icon from $168.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. DA Davidson set a $164.00 target price on Icon in a research report on Monday, June 1st. BMO Capital Markets increased their price target on Icon from $160.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Finally, Leerink Partners set a $145.00 price target on Icon in a research report on Thursday, May 28th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $173.19.

Icon Stock Performance

Shares of ICLR opened at $173.69 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14. The firm’s 50 day moving average is $131.87 and its 200-day moving average is $137.82. Icon Plc has a 12-month low of $66.57 and a 12-month high of $211.00. The stock has a market capitalization of $13.30 billion, a P/E ratio of 30.91, a P/E/G ratio of 8.52 and a beta of 1.26.

Icon (NASDAQ:ICLR) last released its earnings results on Tuesday, June 23rd. The medical research company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.43 by $0.07. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.98 billion. Icon had a net margin of 5.35% and a return on equity of 8.73%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.43 earnings per share. Equities research analysts anticipate that Icon Plc will post 9.41 EPS for the current fiscal year.

Icon 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.