Kornitzer Capital Management Inc. KS Sells 26,701 Shares of ICON Public Limited (NASDAQ:ICLR)

Kornitzer Capital Management Inc. KS reduced its position in ICON Public Limited (NASDAQ:ICLR) by 27.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,052 shares of the medical research company’s stock after selling 26,701 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in ICON Public were worth $19,839,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. First National Bank of Hutchinson lifted its stake in shares of ICON Public by 5.7% during the 1st quarter. First National Bank of Hutchinson now owns 1,135 shares of the medical research company’s stock worth $381,000 after acquiring an additional 61 shares during the last quarter. Motco lifted its holdings in ICON Public by 1.5% during the 1st quarter. Motco now owns 3,882 shares of the medical research company’s stock valued at $1,304,000 after buying an additional 59 shares in the last quarter. SkyView Investment Advisors LLC bought a new stake in shares of ICON Public in the first quarter valued at about $1,021,000. EverSource Wealth Advisors LLC increased its position in ICON Public by 17.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock valued at $95,000 after buying an additional 42 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in ICON Public by 50.0% in the second quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock valued at $82,000 after buying an additional 87 shares during the last quarter. Institutional investors own 95.61% of the company’s stock.

ICON Public Trading Down 0.6 %

ICON Public stock traded down $1.24 during midday trading on Thursday, reaching $222.61. 106,038 shares of the stock traded hands, compared to its average volume of 661,508. ICON Public Limited has a 12-month low of $217.67 and a 12-month high of $347.72. The company has a 50-day simple moving average of $282.07 and a two-hundred day simple moving average of $306.05. The firm has a market cap of $18.36 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.62 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35.

ICON Public (NASDAQ:ICLR) last released its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a return on equity of 11.91% and a net margin of 9.00%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business posted $3.10 EPS. The firm’s revenue was down 1.2% on a year-over-year basis. Research analysts expect that ICON Public Limited will post 13.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ICLR shares. The Goldman Sachs Group dropped their target price on ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. TD Cowen cut their price target on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating for the company in a report on Friday, October 25th. Evercore ISI reduced their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded ICON Public from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $304.27.

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.