ICON Public Limited Company (ICLR) Stock Declined on Management Guidance
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TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.21% (net), compared to -0.65% for the Russell Midcap Growth Index. Strength in Consumer Discretionary, Energy, Financials, Industrials, Information Technology, and Materials sectors contributed to the performance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
TimesSquare Capital highlighted stocks like ICON Public Limited Company (NASDAQ:ICLR) in the Q3 2022 investor letter. Headquartered in Dublin, Ireland, ICON Public Limited Company (NASDAQ:ICLR) is a clinical research company. On December 22, 2022, ICON Public Limited Company (NASDAQ:ICLR) stock closed at $195.71 per share. One-month return of ICON Public Limited Company (NASDAQ:ICLR) was -9.92% and its shares lost 36.44% of their value over the last 52 weeks. ICON Public Limited Company (NASDAQ:ICLR) has a market capitalization of $15.979 billion.
TimesSquare Capital made the following comment about ICON Public Limited Company (NASDAQ:ICLR) in its Q3 2022 investor letter:
"ICON Public Limited Company (NASDAQ:ICLR) is a clinical research organization that provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries. The company reported fairly strong second quarter results as both revenues and earnings topped the consensus. Management slightly lowered revenue guidance, citing foreign exchange headwinds and that caused its stock price to pull back by -15%."
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ICON Public Limited Company (NASDAQ:ICLR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held ICON Public Limited Company (NASDAQ:ICLR) at the end of the third quarter, which was 26 in the previous quarter.
We discussed ICON Public Limited Company (NASDAQ:ICLR) in another article and shared Wasatch Global Investors' views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.