ICON Public Limited Company (ICLR) Improved by 15% in Q4

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was -14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like ICON Public Limited Company (NASDAQ:ICLR) in the fourth quarter 2023 investor letter. Headquartered in Dublin, Ireland, ICON Public Limited Company (NASDAQ:ICLR) is a clinical research organization. On March 28, 2024, ICON Public Limited Company (NASDAQ:ICLR) stock closed at $335.95 per share. One-month return of ICON Public Limited Company (NASDAQ:ICLR) was 4.78%, and its shares gained 59.32% of their value over the last 52 weeks. ICON Public Limited Company (NASDAQ:ICLR) has a market capitalization of $27.714 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding ICON Public Limited Company (NASDAQ:ICLR) in its fourth quarter 2023 investor letter:

“Our preference within Health Care is for novel therapies to address unmet medical needs, specialized providers, and innovators. ICON Public Limited Company (NASDAQ:ICLR) is a clinical research organization that provides outsourced development and commercialization services. Its shares improved by 15% on mixed third quarter results, which included revenues that were slightly below and inline earnings. Noteworthy were margin expansion and strong net new business bookings.”

A laboratory setting with a team of scientists working on a clinical trial.

ICON Public Limited Company (NASDAQ:ICLR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, ICON Public Limited Company (NASDAQ:ICLR) was held by 43 hedge fund portfolios, compared to 39 in the previous quarter, according to our database.

We discussed ICON Public Limited Company (NASDAQ:ICLR) in another article and shared ClearBridge Select Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 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.