Morgan Stanley Has $11.74 Million Position in ICON PLC (ICLR)

Morgan Stanley increased its position in shares of ICON PLC (NASDAQ:ICLR) by 89.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 147,238 shares of the medical research company’s stock after buying an additional 69,669 shares during the period. Morgan Stanley’s holdings in ICON PLC were worth $11,737,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of ICON PLC by 27.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,460 shares of the medical research company’s stock worth $111,000 after buying an additional 312 shares during the last quarter. US Bancorp DE boosted its position in shares of ICON PLC by 15.0% in the first quarter. US Bancorp DE now owns 1,929 shares of the medical research company’s stock worth $154,000 after buying an additional 251 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of ICON PLC by 40.9% in the first quarter. Quantbot Technologies LP now owns 2,022 shares of the medical research company’s stock worth $161,000 after buying an additional 587 shares during the last quarter. IFP Advisors Inc boosted its position in shares of ICON PLC by 2.7% in the first quarter. IFP Advisors Inc now owns 2,232 shares of the medical research company’s stock worth $178,000 after buying an additional 59 shares during the last quarter. Finally, Atria Investments LLC bought a new position in shares of ICON PLC during the first quarter worth about $214,000. 92.61% of the stock is owned by institutional investors.

ICON PLC (ICLR) opened at 99.85 on Monday. ICON PLC has a 12-month low of $70.68 and a 12-month high of $101.40. The company has a 50 day moving average price of $97.18 and a 200-day moving average price of $86.47. The company has a market capitalization of $5.37 billion, a PE ratio of 20.72 and a beta of 0.59.

ICON PLC (NASDAQ:ICLR) last released its earnings results on Thursday, April 27th. The medical research company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.02. The company had revenue of $432 million for the quarter, compared to analyst estimates of $432.21 million. ICON PLC had a return on equity of 28.89% and a net margin of 16.15%. ICON PLC’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 EPS. On average, analysts anticipate that ICON PLC will post $5.17 EPS for the current year.

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ICLR has been the subject of a number of analyst reports. Jefferies Group LLC raised ICON PLC from a “hold” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $117.00 in a report on Thursday, June 29th. Zacks Investment Research raised ICON PLC from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a report on Tuesday, June 27th. BidaskClub raised ICON PLC from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Goldman Sachs Group, Inc. (The) raised ICON PLC from a “buy” rating to a “conviction-buy” rating and set a $117.00 price objective for the company in a report on Friday, July 7th. Finally, ValuEngine cut ICON PLC from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $96.00.

About ICON PLC

ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.

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Institutional Ownership by Quarter for ICON PLC (NASDAQ:ICLR)

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