Peregrine Capital Management LLC Sells 24,942 Shares of Icon Plc (ICLR)

Peregrine Capital Management LLC reduced its stake in shares of Icon Plc (NASDAQ:ICLR) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,143 shares of the medical research company’s stock after selling 24,942 shares during the quarter. Icon comprises approximately 0.9% of Peregrine Capital Management LLC’s holdings, making the stock its 10th largest position. Peregrine Capital Management LLC owned about 0.48% of Icon worth $39,843,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ICLR. Schwab Charles Investment Management Inc. grew its holdings in Icon by 10.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 23,861 shares of the medical research company’s stock valued at $2,819,000 after buying an additional 2,184 shares in the last quarter. BlackRock Inc. grew its holdings in Icon by 15.7% during the 1st quarter. BlackRock Inc. now owns 45,357 shares of the medical research company’s stock valued at $5,358,000 after buying an additional 6,156 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Icon by 92.3% in the first quarter. Allianz Asset Management GmbH now owns 74,285 shares of the medical research company’s stock valued at $8,776,000 after purchasing an additional 35,656 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Icon by 11.6% in the first quarter. LPL Financial LLC now owns 23,943 shares of the medical research company’s stock valued at $2,829,000 after purchasing an additional 2,498 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Icon by 205.7% in the first quarter. Guggenheim Capital LLC now owns 21,400 shares of the medical research company’s stock valued at $2,528,000 after purchasing an additional 14,400 shares in the last quarter. 87.91% of the stock is owned by institutional investors and hedge funds.

Shares of ICLR stock traded down $0.20 on Thursday, reaching $146.97. The company’s stock had a trading volume of 13,785 shares, compared to its average volume of 254,936. Icon Plc has a 1 year low of $101.22 and a 1 year high of $155.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market cap of $8.31 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 2.21 and a beta of 0.31.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, July 25th. The medical research company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.17). The firm had revenue of $641.60 million for the quarter, compared to analysts’ expectations of $618.64 million. Icon had a return on equity of 26.35% and a net margin of 13.69%. The firm’s quarterly revenue was up 48.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.34 earnings per share. On average, equities analysts predict that Icon Plc will post 6.08 EPS for the current year.

A number of research analysts recently weighed in on ICLR shares. Robert W. Baird raised their target price on shares of Icon from $154.00 to $157.00 and gave the company an “outperform” rating in a report on Tuesday, September 11th. Mizuho set a $146.00 target price on shares of Icon and gave the company a “hold” rating in a report on Monday, August 6th. BidaskClub raised shares of Icon from a “hold” rating to a “buy” rating in a report on Wednesday, September 5th. Zacks Investment Research lowered shares of Icon from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, UBS Group started coverage on shares of Icon in a report on Tuesday, October 9th. They issued a “sell” rating and a $145.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $146.10.

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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