Groesbeck Investment Management Corp NJ Boosts Stake in ICON Public Limited (NASDAQ:ICLR)

Groesbeck Investment Management Corp NJ lifted its position in shares of ICON Public Limited (NASDAQ:ICLR) by 15.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,186 shares of the medical research company’s stock after acquiring an additional 290 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in ICON Public were worth $619,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ICLR. Bruce G. Allen Investments LLC purchased a new stake in shares of ICON Public during the 4th quarter worth about $25,000. Pinnacle Bancorp Inc. boosted its stake in shares of ICON Public by 110.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 105 shares of the medical research company’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of ICON Public by 10.9% during the 1st quarter. First Horizon Advisors Inc. now owns 551 shares of the medical research company’s stock worth $118,000 after acquiring an additional 54 shares in the last quarter. Alpha Paradigm Partners LLC purchased a new stake in shares of ICON Public during the 3rd quarter worth about $123,000. Finally, NBC Securities Inc. purchased a new stake in shares of ICON Public during the 3rd quarter worth about $174,000. 95.61% of the stock is owned by hedge funds and other institutional investors.

ICON Public Trading Up 1.6 %

Shares of ICLR traded up $4.54 on Thursday, hitting $296.56. 228,625 shares of the stock traded hands, compared to its average volume of 539,144. ICON Public Limited has a 1 year low of $181.92 and a 1 year high of $344.77. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average is $316.39 and its two-hundred day moving average is $280.17. The firm has a market capitalization of $24.47 billion, a P/E ratio of 39.57, a P/E/G ratio of 1.39 and a beta of 1.15.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, February 21st. The medical research company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.13. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.08 billion. ICON Public had a net margin of 7.54% and a return on equity of 11.42%. As a group, sell-side analysts predict that ICON Public Limited will post 14.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Mizuho reaffirmed a “buy” rating and issued a $346.00 price target on shares of ICON Public in a research note on Thursday, April 4th. JPMorgan Chase & Co. raised their price target on shares of ICON Public from $295.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, December 20th. Barclays raised their price target on shares of ICON Public from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Evercore ISI raised their price target on shares of ICON Public from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Truist Financial increased their price objective on shares of ICON Public from $357.00 to $367.00 and gave the company a “buy” rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, ICON Public currently has an average rating of “Moderate Buy” and a consensus price target of $319.45.

ICON Public 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.