Icon Plc $ICLR is Hudson Edge Investment Partners Inc.’s 5th Largest Position

Hudson Edge Investment Partners Inc. lifted its position in shares of Icon Plc (NASDAQ:ICLR) by 22.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 319,003 shares of the medical research company’s stock after buying an additional 58,554 shares during the quarter. Icon makes up 5.2% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 5th largest holding. Hudson Edge Investment Partners Inc.’s holdings in Icon were worth $35,301,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ICLR. Wellington Management Group LLP raised its holdings in shares of Icon by 26.6% in the third quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock valued at $811,499,000 after acquiring an additional 975,268 shares in the last quarter. Orbis Allan Gray Ltd grew its holdings in Icon by 1.8% during the 4th quarter. Orbis Allan Gray Ltd now owns 4,214,661 shares of the medical research company’s stock worth $767,996,000 after acquiring an additional 75,843 shares in the last quarter. Invesco Ltd. grew its holdings in Icon by 9.6% during the 4th quarter. Invesco Ltd. now owns 3,756,896 shares of the medical research company’s stock worth $684,582,000 after acquiring an additional 329,266 shares in the last quarter. Franklin Resources Inc. increased its position in Icon by 8.7% during the 4th quarter. Franklin Resources Inc. now owns 2,993,336 shares of the medical research company’s stock valued at $545,410,000 after purchasing an additional 239,808 shares during the period. Finally, Harris Associates L P increased its position in Icon by 7.2% during the 4th quarter. Harris Associates L P now owns 2,510,166 shares of the medical research company’s stock valued at $457,402,000 after purchasing an additional 167,607 shares during the period. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Stock Performance

Shares of ICLR opened at $173.06 on Friday. Icon Plc has a 12 month low of $66.57 and a 12 month high of $211.00. The stock has a fifty day moving average price of $135.33 and a 200-day moving average price of $137.87. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31. The firm has a market cap of $13.25 billion, a PE ratio of 30.79, a P/E/G ratio of 8.49 and a beta of 1.22.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Tuesday, June 23rd. The medical research company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.07. Icon had a return on equity of 8.73% and a net margin of 5.35%.The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the firm earned $3.43 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that Icon Plc will post 9.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ICLR shares. DA Davidson set a $164.00 price target on shares of Icon in a report on Monday, June 1st. UBS Group set a $160.00 price objective on shares of Icon in a research note on Wednesday, June 24th. Barclays lifted their price objective on shares of Icon from $160.00 to $175.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Truist Financial raised shares of Icon from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $159.00 to $207.00 in a research note on Tuesday. Finally, Royal Bank Of Canada upgraded Icon from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $126.00 to $185.00 in a report on Thursday, June 25th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $173.19.

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.