Polen Capital, an investment management firm, published its “Polen International Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Over the first quarter of 2022, the Portfolio returned -13.94% gross and -14.17% net of fees, respectively, versus the -5.45% return for the MSCI All Country World ex-USA Index (the “Index”). Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Polen International Growth Fund mentioned ICON Public Limited Company (NASDAQ:ICLR) and explained its insights for the company. Founded in 1990, ICON Public Limited Company (NASDAQ:ICLR) is a Dublin, Ireland-based clinical research organization company with an $18.5 billion market capitalization. ICON Public Limited Company (NASDAQ:ICLR) delivered a -26.47%% return since the beginning of the year, while its 12-month returns are up by 3.57%. The stock closed at $227.72 per share on June 06, 2022.
Here is what Polen International Growth Fund has to say about ICON Public Limited Company (NASDAQ:ICLR) in its Q1 2022 investor letter:
“One of our largest Portfolio positions, and one of the top performers in 2021, ICON is an Ireland-based contract research organization that provides outsourced drug trial services to the pharmaceutical and biotech industries. ICON delivered positive results during the quarter and continues to build on its track record of above-market growth and exemplary profit margins. The company reported that new orders were exceeding current revenues, implying future organic growth at above market rates. During the quarter, the company addressed concerns regarding a potential slowdown in biotech funding, which it has seen no indication of. Short-term stock price volatility aside, we believe ICON will continue to compound earnings growth at a mid- to high-teens rate for the foreseeable future.”
Our calculations show that ICON Public Limited Company (NASDAQ:ICLR) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. ICON Public Limited Company (NASDAQ:ICLR) was in 30 hedge fund portfolios at the end of the first quarter of 2022, compared to 29 funds in the previous quarter. ICON Public Limited Company (NASDAQ:ICLR) delivered a 3.36% return in the past 3 months.
In March 2022, we also shared another hedge fund’s views on ICON Public Limited Company (NASDAQ:ICLR) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
