Mckinley Capital Management LLC Delaware Boosts Stock Position in Icon Plc (NASDAQ:ICLR)

Mckinley Capital Management LLC Delaware boosted its holdings in Icon Plc (NASDAQ:ICLR) by 32.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,558 shares of the medical research company’s stock after purchasing an additional 33,031 shares during the period. Icon comprises 1.3% of Mckinley Capital Management LLC Delaware’s holdings, making the stock its 24th largest position. Mckinley Capital Management LLC Delaware owned approximately 0.25% of Icon worth $20,718,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Systematic Financial Management LP boosted its position in Icon by 8.1% in the first quarter. Systematic Financial Management LP now owns 10,042 shares of the medical research company’s stock worth $1,372,000 after purchasing an additional 755 shares during the last quarter. OLD National Bancorp IN boosted its position in Icon by 44.3% in the first quarter. OLD National Bancorp IN now owns 4,059 shares of the medical research company’s stock worth $554,000 after purchasing an additional 1,247 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in Icon in the first quarter worth $218,000. Xact Kapitalforvaltning AB purchased a new position in Icon in the first quarter worth $601,000. Finally, Reliance Trust Co. of Delaware purchased a new position in Icon in the first quarter worth $1,029,000. 83.78% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on the company. BidaskClub raised Icon from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. KeyCorp upped their price target on Icon from $157.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Mizuho upped their price target on Icon from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Zacks Investment Research cut Icon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, ValuEngine raised Icon from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $165.75.



Shares of NASDAQ ICLR traded down $2.90 during trading on Friday, reaching $153.41. 125,099 shares of the stock traded hands, compared to its average volume of 242,911. Icon Plc has a 52-week low of $118.10 and a 52-week high of $165.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.07 and a quick ratio of 2.07. The company has a 50-day moving average of $154.67 and a 200-day moving average of $143.63. The stock has a market capitalization of $8.40 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 2.14 and a beta of 0.59.

Icon (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.01. Icon had a return on equity of 25.02% and a net margin of 13.05%. The firm had revenue of $695.14 million for the quarter, compared to analysts’ expectations of $693.56 million. During the same quarter in the prior year, the firm earned $1.51 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts expect that Icon Plc will post 6.87 earnings per share for the current fiscal year.

Icon Profile

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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Institutional Ownership by Quarter for Icon (NASDAQ:ICLR)

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