Foyston Gordon & Payne Inc Makes New Investment in ICON Public Limited (NASDAQ:ICLR)

Foyston Gordon & Payne Inc acquired a new position in shares of ICON Public Limited (NASDAQ:ICLR - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 40,624 shares of the medical research company's stock, valued at approximately $11,672,000. ICON Public accounts for approximately 2.9% of Foyston Gordon & Payne Inc's portfolio, making the stock its 11th largest position.

Other large investors have also recently bought and sold shares of the company. Icon Wealth Advisors LLC grew its holdings in shares of ICON Public by 861.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company's stock worth $3,797,000 after acquiring an additional 11,840 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in ICON Public by 15.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company's stock valued at $30,016,000 after purchasing an additional 13,163 shares during the last quarter. Sara Bay Financial purchased a new position in shares of ICON Public in the third quarter valued at $1,143,000. Whittier Trust Co. raised its stake in shares of ICON Public by 8.6% during the 2nd quarter. Whittier Trust Co. now owns 3,579 shares of the medical research company's stock worth $1,122,000 after buying an additional 284 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its position in shares of ICON Public by 67.7% in the 2nd quarter. Arkadios Wealth Advisors now owns 1,231 shares of the medical research company's stock worth $386,000 after buying an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Robert W. Baird cut their target price on shares of ICON Public from $249.00 to $225.00 and set a "neutral" rating for the company in a research report on Wednesday, November 20th. Truist Financial cut their price objective on ICON Public from $363.00 to $295.00 and set a "buy" rating for the company in a research report on Monday, October 28th. Barclays dropped their price target on ICON Public from $330.00 to $275.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Leerink Partnrs upgraded ICON Public to a "strong-buy" rating in a research report on Wednesday, September 18th. Finally, 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 research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong 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 target price of $292.45.

ICON Public Trading Down 1.5 %

NASDAQ:ICLR traded down $3.27 during trading hours on Tuesday, reaching $215.96. 1,214,579 shares of the company were exchanged, compared to its average volume of 747,666. ICON Public Limited has a 52-week low of $183.38 and a 52-week high of $347.72. The stock has a 50 day simple moving average of $240.36 and a 200 day simple moving average of $289.58. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.61 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34.

ICON Public (NASDAQ:ICLR - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing analysts' consensus estimates of $3.72 by ($0.37). The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. ICON Public had a net margin of 9.00% and a return on equity of 11.91%. ICON Public's revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.10 EPS. As a group, analysts predict that ICON Public Limited will post 13.42 EPS for the current year.

About ICON Public

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.