Icon (NASDAQ:ICLR) Director Sells $138,167.89 in Stock

Icon Plc (NASDAQ:ICLR) Director John Dr Climax sold 841 shares of Icon stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $164.29, for a total value of $138,167.89. Following the sale, the director directly owned 2,087 shares of the company’s stock, valued at approximately $342,873.23. This trade represents a 28.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Icon Trading Down 2.6%

NASDAQ ICLR opened at $163.15 on Friday. Icon Plc has a 12 month low of $66.57 and a 12 month high of $203.91. The stock has a 50-day simple moving average of $162.50 and a 200 day simple moving average of $134.24. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $12.49 billion, a PE ratio of 38.30, a P/E/G ratio of 6.94 and a beta of 1.21.

Icon (NASDAQ:ICLR) last issued its earnings results on Thursday, July 30th. The medical research company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2 billion. Icon had a return on equity of 8.02% and a net margin of 3.99%.The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.26 earnings per share. Research analysts forecast that Icon Plc will post 9.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ICLR shares. Weiss Ratings cut shares of Icon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $165.00 target price on shares of Icon in a report on Friday, May 29th. Royal Bank Of Canada raised shares of Icon from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $126.00 to $185.00 in a research report on Thursday, June 25th. Mizuho boosted their price target on shares of Icon from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, June 26th. Finally, Truist Financial restated a “buy” rating and issued a $209.00 price objective (up from $207.00) on shares of Icon in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Icon presently has an average rating of “Hold” and an average target price of $170.40.

Hedge Funds Weigh In On Icon

Several institutional investors and hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd acquired a new stake in Icon during the 2nd quarter worth approximately $254,000. Daiwa Securities Group Inc. increased its position in shares of Icon by 19.3% during the second quarter. Daiwa Securities Group Inc. now owns 28,145 shares of the medical research company’s stock worth $4,094,000 after acquiring an additional 4,546 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Icon by 97.6% during the second quarter. Frontier Capital Management Co. LLC now owns 71,360 shares of the medical research company’s stock worth $10,379,000 after acquiring an additional 35,253 shares during the period. Peapack Gladstone Financial Corp acquired a new stake in shares of Icon during the second quarter worth $212,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Icon by 58.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 781 shares of the medical research company’s stock worth $113,000 after acquiring an additional 289 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

About Icon

Icon plc (NASDAQ: ICLR) is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon’s service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.