Transcend Capital Advisors LLC Makes New Investment in ICON Public Limited (NASDAQ:ICLR)

Transcend Capital Advisors LLC bought a new stake in ICON Public Limited (NASDAQ:ICLR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,091 shares of the medical research company’s stock, valued at approximately $229,000.

Other hedge funds have also made changes to their positions in the company. Sierra Ocean LLC purchased a new position in shares of ICON Public in the 4th quarter valued at $29,000. Park Place Capital Corp raised its stake in shares of ICON Public by 281.4% in the 4th quarter. Park Place Capital Corp now owns 225 shares of the medical research company’s stock valued at $47,000 after acquiring an additional 166 shares during the period. GAMMA Investing LLC raised its stake in shares of ICON Public by 64.0% in the 4th quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock valued at $91,000 after acquiring an additional 169 shares during the period. First Horizon Advisors Inc. raised its stake in shares of ICON Public by 33.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company’s stock valued at $172,000 after acquiring an additional 151 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of ICON Public by 76.0% in the 4th quarter. Avior Wealth Management LLC now owns 894 shares of the medical research company’s stock valued at $187,000 after acquiring an additional 386 shares during the period. Hedge funds and other institutional investors own 95.61% of the company’s stock.

ICON Public Price Performance

Shares of ICLR stock opened at $201.39 on Monday. The firm has a market cap of $16.61 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.34. ICON Public Limited has a 1-year low of $181.51 and a 1-year high of $347.72. The firm has a fifty day moving average of $202.90 and a two-hundred day moving average of $244.47.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.01. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.04 billion. ICON Public had a net margin of 9.56% and a return on equity of 11.81%. As a group, research analysts anticipate that ICON Public Limited will post 13.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ICLR. Leerink Partners reissued an “outperform” rating and issued a $255.00 target price (down previously from $270.00) on shares of ICON Public in a research note on Tuesday, November 19th. JPMorgan Chase & Co. lowered their price target on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of ICON Public in a report on Tuesday, January 14th. Barclays lowered their price target on shares of ICON Public from $275.00 to $240.00 and set an “overweight” rating for the company in a report on Friday. Finally, Citigroup lowered their price target on shares of ICON Public from $300.00 to $290.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ICON Public currently has a consensus rating of “Moderate Buy” and an average price target of $281.00.

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.