Kornitzer Capital Management Inc. KS Has $19.84 Million Stock Holdings in ICON Public Limited (NASDAQ:ICLR)

Kornitzer Capital Management Inc. KS decreased its stake in ICON Public Limited (NASDAQ:ICLR) by 27.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,052 shares of the medical research company’s stock after selling 26,701 shares during the period. Kornitzer Capital Management Inc. KS owned 0.08% of ICON Public worth $19,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Liontrust Investment Partners LLP grew its stake in ICON Public by 19.5% in the second quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock valued at $37,531,000 after acquiring an additional 19,546 shares during the period. Whittier Trust Co. increased its position in shares of ICON Public by 12.3% in the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock worth $1,155,000 after purchasing an additional 441 shares during the last quarter. Sara Bay Financial purchased a new stake in shares of ICON Public during the 3rd quarter valued at $1,143,000. Motco lifted its holdings in shares of ICON Public by 1.5% during the 1st quarter. Motco now owns 3,882 shares of the medical research company’s stock worth $1,304,000 after acquiring an additional 59 shares during the last quarter. Finally, SkyView Investment Advisors LLC purchased a new position in ICON Public in the first quarter worth $1,021,000. 95.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ICLR. Evercore ISI dropped their price target on ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Barclays dropped their target price 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. StockNews.com downgraded shares of ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. cut their price objective on shares of ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Truist Financial decreased their target price on shares of ICON Public from $363.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Four 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’s stock. According to MarketBeat, ICON Public has a consensus rating of “Moderate Buy” and a consensus price target of $304.27.

ICON Public Price Performance

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. The stock’s fifty day moving average is $282.07 and its 200-day moving average is $306.05. ICON Public Limited has a 12 month low of $217.67 and a 12 month high of $347.72. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock has a market cap of $18.36 billion, a P/E ratio of 24.96, a PEG ratio of 1.62 and a beta of 1.25.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings data 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). The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $3.10 EPS. As a group, equities research analysts anticipate that ICON Public Limited will post 13.43 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.