NBC Securities Inc. Cuts Position in ICON Public Limited (NASDAQ:ICLR)

NBC Securities Inc. cut its stake in ICON Public Limited (NASDAQ:ICLR) by 14.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 618 shares of the medical research company’s stock after selling 108 shares during the period. NBC Securities Inc.’s holdings in ICON Public were worth $217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its position in ICON Public by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 695,932 shares of the medical research company’s stock valued at $196,998,000 after buying an additional 6,331 shares during the period. State of Tennessee Treasury Department boosted its position in ICON Public by 4.9% during the fourth quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company’s stock valued at $44,101,000 after buying an additional 7,270 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in ICON Public by 50.7% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 74,820 shares of the medical research company’s stock valued at $21,179,000 after buying an additional 25,160 shares during the period. Handelsbanken Fonder AB boosted its position in ICON Public by 4.3% during the fourth quarter. Handelsbanken Fonder AB now owns 17,964 shares of the medical research company’s stock valued at $5,085,000 after buying an additional 734 shares during the period. Finally, Amalgamated Bank boosted its position in ICON Public by 15.8% during the fourth quarter. Amalgamated Bank now owns 9,771 shares of the medical research company’s stock valued at $2,766,000 after buying an additional 1,333 shares during the period. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of ICON Public in a research report on Thursday, June 6th. They set a “buy” rating and a $370.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of ICON Public in a research note on Friday, May 31st. Mizuho reaffirmed a “buy” rating and set a $346.00 price objective on shares of ICON Public in a research note on Thursday, April 4th. Evercore ISI lowered their price objective on shares of ICON Public from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Finally, TD Cowen upped their price objective on shares of ICON Public from $349.00 to $373.00 and gave the company a “buy” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $345.30.

ICON Public Price Performance

ICLR stock opened at $318.78 on Friday. ICON Public Limited has a 1 year low of $221.20 and a 1 year high of $344.77. The company has a market cap of $26.30 billion, a P/E ratio of 38.78, a PEG ratio of 1.41 and a beta of 1.24. The firm has a 50-day moving average of $312.65 and a 200 day moving average of $300.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.21 and a quick ratio of 1.21.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, April 24th. The medical research company reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.08. ICON Public had a net margin of 8.30% and a return on equity of 11.70%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.09 billion. On average, sell-side analysts forecast that ICON Public Limited will post 14.52 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.