Sara Bay Financial Makes New Investment in ICON Public Limited (NASDAQ:ICLR)

Sara Bay Financial purchased a new stake in ICON Public Limited (NASDAQ:ICLR - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,980 shares of the medical research company's stock, valued at approximately $1,143,000. ICON Public comprises approximately 0.5% of Sara Bay Financial's portfolio, making the stock its 24th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Tennessee Treasury Department grew its position in shares of ICON Public by 4.9% in the 4th quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company's stock valued at $44,101,000 after buying an additional 7,270 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of ICON Public in the 4th quarter valued at $29,000. GAMMA Investing LLC increased its position in shares of ICON Public by 22.5% during the first quarter. GAMMA Investing LLC now owns 174 shares of the medical research company's stock worth $58,000 after buying an additional 32 shares during the period. Steph & Co. boosted its position in ICON Public by 11.2% during the first quarter. Steph & Co. now owns 1,852 shares of the medical research company's stock valued at $622,000 after acquiring an additional 186 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of ICON Public in the 1st quarter valued at about $31,000. Institutional investors own 95.61% of the company's stock.

ICON Public Trading Down 1.1 %

Shares of ICLR traded down $3.17 during mid-day trading on Monday, hitting $290.37. 410,429 shares of the company's stock traded hands, compared to its average volume of 575,795. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36. ICON Public Limited has a 1 year low of $221.20 and a 1 year high of $347.72. The firm has a market capitalization of $23.95 billion, a P/E ratio of 35.32, a PEG ratio of 1.32 and a beta of 1.22. The business's 50-day moving average price is $307.87 and its 200-day moving average price is $314.46.

ICON Public (NASDAQ:ICLR - Get Free Report) last released its earnings results on Wednesday, July 24th. The medical research company reported $3.75 EPS for the quarter, topping the consensus estimate of $3.68 by $0.07. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the company posted $2.96 earnings per share. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts forecast that ICON Public Limited will post 14.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ICLR. Robert W. Baird dropped their price target on ICON Public from $368.00 to $340.00 and set an "outperform" rating on the stock in a research note on Friday, September 20th. Leerink Partners assumed coverage on shares of ICON Public in a research note on Wednesday, September 18th. They issued an "outperform" rating and a $379.00 price target for the company. StockNews.com cut shares of ICON Public from a "buy" rating to a "hold" rating in a research report on Thursday, September 19th. Leerink Partnrs upgraded ICON Public to a "strong-buy" rating in a report on Wednesday, September 18th. Finally, Truist Financial restated a "buy" rating and set a $383.00 price objective on shares of ICON Public in a report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $351.60.

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.

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