Icon (NASDAQ:ICLR) Trading Up 4.7% – What’s Next?

Shares of Icon Plc (NASDAQ:ICLR) were up 4.7% during trading on Thursday . The company traded as high as $170.48 and last traded at $171.5250. 194,107 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,278,780 shares. The stock had previously closed at $163.90.

Wall Street Analysts Forecast Growth

ICLR has been the subject of several recent analyst reports. TD Cowen raised their target price on Icon from $164.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $165.00 price target on shares of Icon in a research note on Friday, May 29th. UBS Group set a $160.00 price target on Icon in a report on Wednesday, June 24th. Citigroup lowered their price objective on Icon from $180.00 to $175.00 and set a “neutral” rating for the company in a research note on Friday, September 18th. Finally, Bank of America lifted their price objective on Icon from $125.00 to $150.00 and gave the stock an “underperform” rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $170.07.

Icon Stock Up 3.6%

The firm has a market cap of $13.00 billion, a P/E ratio of 39.88, a PEG ratio of 7.73 and a beta of 1.20. The firm’s 50-day moving average price is $167.08 and its 200 day moving average price is $141.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95.

Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Thursday, July 30th. The medical research company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.01. Icon had a return on equity of 8.02% and a net margin of 3.99%.The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the company earned $3.26 earnings per share. Icon’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Icon Plc will post 9.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ronan Murphy sold 5,005 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $175.00, for a total value of $875,875.00. Following the completion of the sale, the director directly owned 3,847 shares in the company, valued at approximately $673,225. The trade was a 56.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anne Whitaker sold 841 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $164.29, for a total value of $138,167.89. Following the sale, the director directly owned 891 shares in the company, valued at approximately $146,382.39. This represents a 48.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 22,796 shares of company stock worth $3,887,139. Corporate insiders own 44.00% of the company’s stock.

Institutional Trading of Icon

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in Icon by 21.4% in the 2nd quarter. GAMMA Investing LLC now owns 391 shares of the medical research company’s stock valued at $68,000 after buying an additional 69 shares during the last quarter. Westpac Banking Corp lifted its position in Icon by 9.9% during the 4th quarter. Westpac Banking Corp now owns 1,146 shares of the medical research company’s stock worth $209,000 after acquiring an additional 103 shares during the last quarter. White Knight Strategic Wealth Advisors LLC boosted its holdings in Icon by 6.8% during the fourth quarter. White Knight Strategic Wealth Advisors LLC now owns 2,193 shares of the medical research company’s stock valued at $400,000 after acquiring an additional 140 shares during the period. Grove Bank & Trust boosted its holdings in Icon by 30.0% during the second quarter. Grove Bank & Trust now owns 866 shares of the medical research company’s stock valued at $150,000 after acquiring an additional 200 shares during the period. Finally, Abound Financial LLC acquired a new stake in shares of Icon in the fourth quarter valued at about $54,000. 95.61% of the stock is owned by institutional investors and hedge funds.

Icon Company Profile

ICON plc is a contract research and development organization that provides services to pharmaceutical, biotechnology, medical device and government clients. The company helps sponsors plan, manage and execute clinical development programs, supporting the progression of new medicines and healthcare products from early research through regulatory approval and commercialization.

Its services include clinical trial design and management, clinical data management, biostatistics, pharmacovigilance, regulatory consulting, medical affairs, laboratory services and real-world evidence.