Insider Selling: Icon (NASDAQ:ICLR) Director Sells $875,875.00 in Stock

Icon Plc (NASDAQ:ICLR) Director John Climax sold 5,005 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $175.00, for a total value of $875,875.00. Following the completion of the sale, the director owned 2,087 shares of the company’s stock, valued at approximately $365,225. The trade was a 70.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

John Dr Climax also recently made the following trade(s):

• On Tuesday, August 11th, John Climax sold 841 shares of Icon stock. The shares were sold at an average price of $164.29, for a total transaction of $138,167.89.

Icon Price Performance

Icon stock opened at $169.68 on Friday. Icon Plc has a 12-month low of $66.57 and a 12-month high of $203.91. The stock has a market cap of $12.99 billion, a P/E ratio of 39.83, a PEG ratio of 8.03 and a beta of 1.20. The company has a 50-day moving average price of $167.27 and a 200 day moving average price of $140.01. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23.

Icon (NASDAQ:ICLR) last posted its earnings results 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. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2 billion. Icon had a net margin of 3.99% and a return on equity of 8.02%. Icon’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.26 EPS. Sell-side analysts anticipate that Icon Plc will post 9.58 earnings per share for the current year.

Institutional Trading of Icon

A number of large investors have recently bought and sold shares of ICLR. Polianta Ltd purchased a new position in Icon during the second quarter worth about $1,876,000. Legal & General Group Plc increased its position in Icon by 7.7% during the 4th quarter. Legal & General Group Plc now owns 147,715 shares of the medical research company’s stock worth $26,917,000 after purchasing an additional 10,609 shares during the period. Royal Bank of Canada raised its stake in shares of Icon by 68.0% during the 1st quarter. Royal Bank of Canada now owns 153,728 shares of the medical research company’s stock worth $17,011,000 after buying an additional 62,225 shares in the last quarter. Trinity Street Asset Management LLP lifted its holdings in shares of Icon by 27.1% in the 2nd 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 buying an additional 327,314 shares during the period. Finally, Maple Rock Capital Partners Inc. boosted its stake in shares of Icon by 257.8% in the second quarter. Maple Rock Capital Partners Inc. now owns 1,199,600 shares of the medical research company’s stock valued at $208,383,000 after buying an additional 864,300 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ICLR. DA Davidson set a $164.00 price target on shares of Icon in a research note on Monday, June 1st. Truist Financial reaffirmed a “buy” rating and set a $209.00 price objective (up from $207.00) on shares of Icon in a research report on Friday, July 31st. Royal Bank Of Canada raised Icon from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $126.00 to $185.00 in a report on Thursday, June 25th. Robert W. Baird set a $194.00 price target on Icon in a report on Friday, July 31st. Finally, Barclays increased their price objective on Icon from $160.00 to $175.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $170.40.

About Icon

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.