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Transaction Details

Company: ICON
Yahoo Beta:0.49
Industry:biotechnology and drugs

Company Description:  ICON plc is a contract research organization that supports phase 1 through phase 4 clinical trials for new drugs. ICON, the number 4 CRO world-wide, is based in Ireland.

Purchase Date:03 Feb 2005 Sale Date:31 Aug 2016
Purchase Price:$33.95 Sale Price:$76.38
  --Split Adjusted:$8.48  --Split Adjusted:$19.10
Shares Purchased:75 Shares Sold:162
  --Split Adjusted:300  --Split Adjusted:41
Transaction Fee:$64.85 Transaction Fee:$207.12
Price Range (6 Months Prior):    Price Range (6 Months After):    
High$45.29 High$0.00
Date18 Jul 2004 Date01 Jan 1996
Low$31.04 Low$0.00
Date08 Oct 2000 Date01 Jan 1996
S&P (Purchase Date):$1,189.89 S&P (Sale Date):$2,166.59

Timing:  The stock was purchased close to its six month low.
Reason:  Drug companies are increasing the amount of clinical testing outsourced to CROs. ICON has a unique, dedicated team approach to testing which appears to be reflected in higher margins and an increasing market share.

Timing:  The stock has rebounded from its lows in April.
Reason:  ICLR has been an excellent investment for us. Despite having trimmed our position several times, ICLR made up almost a quarter of our holdings in the Davidson portfolio. ICON is still the most attractive publicly traded CRO with an attractive PE multiple. However, its slower growth recently and heavy reliance on a single contract make the company too risky for such a large position. We elected to reduce our position by about 80%.

S&P Gain: 82.08 % Annualized Gain: 5.36%
Stock Gain: 800.73 % Annualized Gain: 21.09%

Net Holding Return ($): $10,728.14
Net Holding Return (%): 745.73 %