Park Place Capital Corp Increases Stake in ICON Public Limited (NASDAQ:ICLR)

Park Place Capital Corp increased its position in shares of ICON Public Limited (NASDAQ:ICLR) by 281.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225 shares of the medical research company’s stock after purchasing an additional 166 shares during the period. Park Place Capital Corp’s holdings in ICON Public were worth $47,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Foyston Gordon & Payne Inc purchased a new position in ICON Public during the 3rd quarter worth approximately $11,672,000. Icon Wealth Advisors LLC raised its holdings in ICON Public by 861.1% during the third quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock worth $3,797,000 after purchasing an additional 11,840 shares in the last quarter. Whittier Trust Co. raised its stake in shares of ICON Public by 12.3% during the 3rd quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock worth $1,155,000 after buying an additional 441 shares in the last quarter. Sara Bay Financial acquired a new stake in ICON Public in the third quarter valued at $1,143,000. Finally, Steph & Co. lifted its stake in shares of ICON Public by 3.7% in the fourth quarter. Steph & Co. now owns 1,560 shares of the medical research company’s stock valued at $327,000 after purchasing an additional 55 shares during the period. 95.61% of the stock is owned by institutional investors and hedge funds.

ICON Public Price Performance

ICLR stock opened at $202.68 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average is $209.32 and its two-hundred day moving average is $264.99. The company has a market capitalization of $16.72 billion, a PE ratio of 22.60, a P/E/G ratio of 1.54 and a beta of 1.20. ICON Public Limited has a 52-week low of $183.38 and a 52-week high of $347.72.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm earned $3.10 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. Analysts predict that ICON Public Limited will post 13.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Evercore ISI decreased their target price on ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $263.00 target price on shares of ICON Public in a research report on Wednesday, January 15th. Barclays lowered their price target on ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group dropped their price objective on ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Redburn Atlantic started coverage on shares of ICON Public in a research report on Monday, October 14th. They set a “neutral” rating and a $311.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $287.00.

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.