Inspire Investing LLC Has $2.77 Million Stake in Icon Plc $ICLR

Inspire Investing LLC boosted its position in shares of Icon Plc (NASDAQ:ICLR) by 85.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,983 shares of the medical research company’s stock after purchasing an additional 11,495 shares during the period. Inspire Investing LLC’s holdings in Icon were worth $2,765,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in Icon by 1.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,080,192 shares of the medical research company’s stock worth $203,800,000 after acquiring an additional 11,335 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Icon in the 3rd quarter valued at about $39,074,000. Jennison Associates LLC acquired a new position in shares of Icon in the 4th quarter valued at about $123,542,000. Franklin Resources Inc. lifted its position in shares of Icon by 35.4% in the third quarter. Franklin Resources Inc. now owns 2,753,528 shares of the medical research company’s stock worth $481,692,000 after purchasing an additional 719,301 shares in the last quarter. Finally, Trinity Street Asset Management LLP lifted its position in shares of Icon by 23.1% in the fourth quarter. Trinity Street Asset Management LLP now owns 1,072,428 shares of the medical research company’s stock worth $195,418,000 after purchasing an additional 201,455 shares in the last quarter. 95.61% of the stock is owned by institutional investors and hedge funds.

Icon Price Performance

NASDAQ ICLR opened at $172.99 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $13.25 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 8.38 and a beta of 1.26. Icon Plc has a 12-month low of $66.57 and a 12-month high of $211.00. The company has a 50 day moving average price of $130.79 and a two-hundred day moving average price of $137.91.

Icon (NASDAQ:ICLR) last announced its quarterly earnings results on Tuesday, June 23rd. The medical research company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.43 by $0.07. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.98 billion. Icon had a net margin of 5.35% and a return on equity of 8.73%. Icon’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.43 EPS. As a group, equities analysts predict that Icon Plc will post 9.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ICLR. Piper Sandler downgraded shares of Icon to a “neutral” rating in a research report on Thursday, May 28th. Citigroup lifted their target price on shares of Icon from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday. Weiss Ratings cut shares of Icon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. DA Davidson set a $164.00 price target on shares of Icon in a research note on Monday, June 1st. Finally, TD Cowen increased their price objective on Icon from $164.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Icon currently has a consensus rating of “Hold” and an average price target of $170.19.

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.