Tributary Capital Management LLC Increases Stock Position in Icon Plc (NASDAQ:ICLR)

Tributary Capital Management LLC raised its holdings in Icon Plc (NASDAQ:ICLR) by 33.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,279 shares of the medical research company’s stock after purchasing an additional 1,329 shares during the quarter. Tributary Capital Management LLC’s holdings in Icon were worth $924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. State of Tennessee Department of Treasury lifted its stake in Icon by 1.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 158,947 shares of the medical research company’s stock valued at $33,333,000 after buying an additional 1,600 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in Icon by 2.6% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 99,627 shares of the medical research company’s stock valued at $17,434,000 after buying an additional 2,525 shares in the last quarter. GAMMA Investing LLC lifted its stake in Icon by 15,701.6% in the 1st quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company’s stock valued at $119,730,000 after buying an additional 67,988 shares in the last quarter. Motley Fool Wealth Management LLC lifted its stake in Icon by 2.3% in the 4th quarter. Motley Fool Wealth Management LLC now owns 64,038 shares of the medical research company’s stock valued at $13,342,000 after buying an additional 1,466 shares in the last quarter. Finally, Foyston Gordon & Payne Inc raised its holdings in Icon by 27.3% in the 4th quarter. Foyston Gordon & Payne Inc now owns 51,713 shares of the medical research company’s stock valued at $10,845,000 after acquiring an additional 11,089 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Stock Performance

NASDAQ:ICLR opened at $144.04 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a 50-day moving average of $140.69 and a two-hundred day moving average of $166.61. The stock has a market cap of $11.63 billion, a P/E ratio of 15.69, a PEG ratio of 1.78 and a beta of 1.17. Icon Plc has a 1-year low of $125.10 and a 1-year high of $345.86.

Icon (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, April 30th. The medical research company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.17 by $0.02. Icon had a net margin of 9.25% and a return on equity of 11.46%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company posted $3.47 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, research analysts expect that Icon Plc will post 13.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on ICLR shares. JPMorgan Chase & Co. downgraded Icon from an “overweight” rating to a “neutral” rating and cut their price target for the company from $265.00 to $150.00 in a report on Tuesday, April 29th. Citigroup cut their price target on Icon from $290.00 to $215.00 and set a “buy” rating for the company in a report on Monday, April 7th. TD Cowen downgraded Icon from a “buy” rating to a “hold” rating and cut their price target for the company from $254.00 to $157.00 in a report on Monday, April 14th. Barclays dropped their price objective on Icon from $165.00 to $155.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Finally, Truist Financial dropped their price objective on Icon from $262.00 to $208.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Eight analysts have rated the stock with a hold rating, seven have issued 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 a consensus rating of “Moderate Buy” and a consensus target price of $198.08.

About Icon

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.