Icon Plc $ICLR Shares Sold by Strategic Global Advisors LLC

Strategic Global Advisors LLC decreased its holdings in Icon Plc (NASDAQ:ICLR) by 42.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,407 shares of the medical research company’s stock after selling 20,158 shares during the quarter. Strategic Global Advisors LLC’s holdings in Icon were worth $4,994,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ICLR. Harris Associates L P acquired a new position in shares of Icon in the second quarter worth $238,256,000. Capital World Investors grew its stake in shares of Icon by 555.2% in the fourth quarter. Capital World Investors now owns 1,496,479 shares of the medical research company’s stock worth $272,688,000 after acquiring an additional 1,268,095 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Icon by 26.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock worth $811,499,000 after purchasing an additional 975,268 shares during the last quarter. Lyrical Asset Management LP purchased a new stake in shares of Icon during the 4th quarter worth $176,382,000. Finally, Norges Bank purchased a new stake in shares of Icon during the 4th quarter worth $160,073,000. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ICLR. BMO Capital Markets lifted their price objective on shares of Icon from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Weiss Ratings cut shares of Icon from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. TD Cowen lifted their price objective on shares of Icon from $120.00 to $164.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Truist Financial lifted their price objective on shares of Icon from $139.00 to $159.00 and gave the stock a “hold” rating in a research report on Friday, May 29th. Finally, Barclays lifted their price objective on shares of Icon from $120.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $156.44.

Icon Price Performance

Shares of ICLR opened at $146.18 on Monday. Icon Plc has a 1-year low of $66.57 and a 1-year high of $211.00. The stock has a market cap of $11.19 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 11.55 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a fifty day moving average price of $121.76 and a 200 day moving average price of $140.30.

Icon (NASDAQ:ICLR) last announced its quarterly earnings results on Wednesday, June 17th. The medical research company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.05. Icon had a net margin of 5.98% and a return on equity of 9.50%. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the company earned $3.43 earnings per share. Icon’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Icon Plc will post 9.74 EPS for the current year.

Icon Company Profile

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.