Icon Plc $ICLR Shares Acquired by Maple Rock Capital Partners Inc.

Maple Rock Capital Partners Inc. boosted its holdings in shares of Icon Plc (NASDAQ:ICLR) by 257.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,199,600 shares of the medical research company’s stock after buying an additional 864,300 shares during the period. Icon comprises 4.1% of Maple Rock Capital Partners Inc.’s portfolio, making the stock its 5th largest holding. Maple Rock Capital Partners Inc.’s holdings in Icon were worth $208,383,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Legal & General Group Plc increased its stake in Icon by 7.7% in the fourth quarter. Legal & General Group Plc now owns 147,715 shares of the medical research company’s stock valued at $26,917,000 after acquiring an additional 10,609 shares during the period. Polianta Ltd bought a new position in Icon during the second quarter worth about $1,876,000. Royal Bank of Canada lifted its stake in Icon by 68.0% during the first quarter. Royal Bank of Canada now owns 153,728 shares of the medical research company’s stock worth $17,011,000 after purchasing an additional 62,225 shares during the period. Trinity Street Asset Management LLP boosted its holdings in Icon by 27.1% during the second quarter. Trinity Street Asset Management LLP now owns 1,535,462 shares of the medical research company’s stock valued at $266,725,000 after purchasing an additional 327,314 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in Icon by 463.8% during the second quarter. Handelsbanken Fonder AB now owns 71,817 shares of the medical research company’s stock valued at $12,475,000 after purchasing an additional 59,078 shares in the last quarter. Institutional investors own 95.61% of the company’s stock.

Icon Stock Performance

NASDAQ ICLR opened at $164.99 on Tuesday. Icon Plc has a 1-year low of $66.57 and a 1-year high of $203.91. The company has a 50 day moving average of $167.69 and a 200-day moving average of $134.06. 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 firm has a market cap of $12.63 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 7.04 and a beta of 1.21.

Icon (NASDAQ:ICLR) last announced its earnings results on Thursday, July 30th. The medical research company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.55 by $0.01. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2 billion. Icon had a return on equity of 8.02% and a net margin of 3.99%.Icon’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.26 EPS. On average, equities analysts forecast that Icon Plc will post 9.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Leerink Partners set a $145.00 target price on Icon in a report on Thursday, May 28th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $165.00 price target on shares of Icon in a research note on Friday, May 29th. Robert W. Baird set a $194.00 price target on Icon in a research report on Friday, July 31st. DA Davidson set a $164.00 price objective on Icon in a research note on Monday, June 1st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Icon in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Icon has a consensus rating of “Hold” and an average price target of $170.40.

Insider Transactions at Icon

In other news, Director Ronan Martin Murphy sold 841 shares of the firm’s 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 completion of the sale, the director directly owned 3,847 shares in the company, valued at approximately $632,023.63. This trade represents a 17.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eugene Pacelli Mccague sold 841 shares of Icon stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $164.29, for a total value of $138,167.89. Following the completion of the transaction, the director directly owned 3,811 shares of the company’s stock, valued at $626,109.19. This represents a 18.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 9,531 shares of company stock worth $1,565,764. 44.00% of the stock is owned by company insiders.

Icon 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.