Legg Mason Asset Management Japan Co. Ltd. cut its holdings in Icon Plc (NASDAQ:ICLR) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,300 shares of the medical research company’s stock after selling 400 shares during the period. Icon comprises about 1.5% of Legg Mason Asset Management Japan Co. Ltd.’s holdings, making the stock its 6th largest position. Legg Mason Asset Management Japan Co. Ltd.’s holdings in Icon were worth $1,202,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. CWM LLC raised its stake in Icon by 211.8% in the 4th quarter. CWM LLC now owns 212 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 144 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in Icon by 75.5% in the 3rd quarter. Rehmann Capital Advisory Group now owns 416 shares of the medical research company’s stock valued at $64,000 after purchasing an additional 179 shares during the last quarter. Truehand Inc acquired a new position in Icon in the 4th quarter valued at about $54,000. Benjamin F. Edwards & Company Inc. raised its stake in Icon by 36.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 116 shares during the last quarter. Finally, NumerixS Investment Technologies Inc acquired a new position in Icon in the 4th quarter valued at about $64,000. Institutional investors and hedge funds own 86.41% of the company’s stock.
A number of research analysts have recently commented on ICLR shares. BidaskClub raised shares of Icon from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 1st. Goldman Sachs Group downgraded shares of Icon from a “conviction-buy” rating to a “buy” rating and set a $168.00 price objective for the company. in a research note on Friday, December 14th. Zacks Investment Research downgraded shares of Icon from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Mizuho raised shares of Icon from a “neutral” rating to a “buy” rating and upped their price objective for the company from $146.00 to $150.00 in a research note on Friday, January 25th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $161.00 price objective on shares of Icon in a research note on Monday, February 25th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $152.60.
Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, February 20th. The medical research company reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.02. The company had revenue of $679.03 million during the quarter, compared to the consensus estimate of $675.04 million. Icon had a net margin of 12.43% and a return on equity of 26.01%. The company’s quarterly revenue was up 49.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 EPS. On average, analysts expect that Icon Plc will post 6.82 earnings per share for the current fiscal year.
ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It 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.
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