Handelsbanken Fonder AB Buys 5,229 Shares of ICON Public Limited (NASDAQ:ICLR)

Handelsbanken Fonder AB raised its stake in shares of ICON Public Limited (NASDAQ:ICLR) by 25.3% in the first quarter, Holdings Channel reports. The fund owned 25,905 shares of the medical research company’s stock after acquiring an additional 5,229 shares during the period. Handelsbanken Fonder AB’s holdings in ICON Public were worth $4,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sierra Ocean LLC bought a new position in shares of ICON Public during the fourth quarter valued at $29,000. Private Trust Co. NA raised its holdings in shares of ICON Public by 48.8% in the fourth quarter. Private Trust Co. NA now owns 250 shares of the medical research company’s stock valued at $52,000 after buying an additional 82 shares during the last quarter. NBC Securities Inc. bought a new position in shares of ICON Public in the first quarter valued at about $59,000. Farther Finance Advisors LLC raised its holdings in shares of ICON Public by 22.8% in the first quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company’s stock valued at $99,000 after buying an additional 110 shares during the last quarter. Finally, Horizon Investments LLC raised its holdings in shares of ICON Public by 534.0% in the fourth quarter. Horizon Investments LLC now owns 653 shares of the medical research company’s stock valued at $137,000 after buying an additional 550 shares during the last quarter. 95.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ICLR has been the subject of a number of research analyst reports. Barclays cut their price target on ICON Public from $165.00 to $155.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Robert W. Baird cut their price target on ICON Public from $192.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Truist Financial cut their price target on ICON Public from $262.00 to $208.00 and set a “buy” rating for the company in a report on Thursday, April 10th. TD Cowen cut ICON Public 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. Finally, Citigroup cut their price target on ICON Public from $290.00 to $215.00 and set a “buy” rating for the company in a report on Monday, April 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given 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 $213.08.

ICON Public Price Performance

Shares of ICLR stock opened at $145.66 on Friday. The stock has a 50-day moving average price of $139.10 and a 200 day moving average price of $176.71. The company has a quick ratio of 1.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.86 and a beta of 1.15. ICON Public Limited has a 12 month low of $125.10 and a 12 month high of $347.72.

ICON Public (NASDAQ:ICLR) last posted its earnings results on Wednesday, April 30th. The medical research company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.17 by $0.02. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.47 EPS. Research analysts expect that ICON Public Limited will post 13.38 EPS for the current year.

ICON Public Company Profile

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.