Will ICON PLC (ICLR) Benefit from R&D Spending?
In its first-quarter 2025 investor letter, Parnassus Mid Cap Growth Fund highlighted stocks such as ICON Public Limited Company (NASDAQ:ICLR). Headquartered in Dublin, Ireland, ICON Public Limited Company (NASDAQ:ICLR) is a clinical research organization. The one-month return of ICON Public Limited Company (NASDAQ:ICLR) was 8.03%, and its shares lost 52.57% of their value over the last 52 weeks. On July 2, 2025, ICON Public Limited Company (NASDAQ:ICLR) stock closed at $150.82 per share, with a market capitalization of $11.988 billion.
Parnassus Mid Cap Growth Fund stated the following regarding ICON Public Limited Company (NASDAQ:ICLR) in its Q1 2025 investor letter:
"ICON Public Limited Company (NASDAQ:ICLR) is the second largest player in the clinical research organization (CRO) market due to competitive advantages created by its scale and long-standing customer relationships. We bought the stock after it sold off following delays in R&D spend in the biotech industry. With the stock trading at a low valuation on cyclically depressed earnings, we think ICON will benefit as R&D spend improves and as the company continues to gain market share."
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. As per our database, 44 hedge fund portfolios held ICON Public Limited Company (NASDAQ:ICLR) at the end of the first quarter, which was 46 in the previous quarter. ICON Public Limited Company's (NASDAQ:ICLR) first quarter revenue declined 4.3% year-over-year to $2 billion. While we acknowledge the potential of ICON Public Limited Company (NASDAQ:ICLR) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains.
In another article, we covered ICON Public Limited Company (NASDAQ:ICLR) and shared Wasatch U.S. Select Strategy's views on the company. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. While we acknowledge the potential of ICLR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.
Disclosure: None. This article is originally published at Insider Monkey.
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