Polen Capital Management LLC Has $19.17 Million Position in Icon Plc $ICLR

Polen Capital Management LLC lowered its stake in shares of Icon Plc (NASDAQ:ICLR) by 76.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 105,206 shares of the medical research company’s stock after selling 338,255 shares during the period. Polen Capital Management LLC’s holdings in Icon were worth $19,171,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Toth Financial Advisory Corp acquired a new position in Icon in the fourth quarter worth about $27,000. Ameriflex Group Inc. acquired a new position in Icon in the third quarter worth about $33,000. Johnson Financial Group Inc. acquired a new position in Icon in the third quarter worth about $71,000. Quadrant Capital Group LLC acquired a new position in Icon in the third quarter worth about $78,000. Finally, Geneos Wealth Management Inc. raised 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 in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ICLR. Barclays increased their price target on shares of Icon from $120.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. increased their price target on shares of Icon from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Rothschild & Co Redburn set a $100.00 price target on shares of Icon and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Jefferies Financial Group reissued a “buy” rating and issued a $165.00 price target on shares of Icon in a research report on Friday, May 29th. Finally, Robert W. Baird set a $119.00 price target on shares of Icon in a research report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $156.44.

Icon Stock Performance

NASDAQ ICLR opened at $149.92 on Friday. The firm has a market cap of $11.48 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 11.42 and a beta of 1.26. The company has a 50 day moving average of $121.07 and a 200-day moving average of $140.43. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.31. Icon Plc has a 1-year low of $66.57 and a 1-year high of $211.00.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, June 10th. The medical research company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.05. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $1.99 billion. Icon had a net margin of 5.98% and a return on equity of 9.50%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $3.43 earnings per share. On average, equities analysts forecast that Icon Plc will post 9.74 earnings per share for the current fiscal year.

About Icon

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.