Icon Plc $ICLR Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Icon Plc (NASDAQ:ICLR) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,846 shares of the medical research company’s stock after selling 4,416 shares during the period. Bank of New York Mellon Corp’s holdings in Icon were worth $3,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sanctuary Advisors LLC grew its stake in shares of Icon by 83.5% during the first quarter. Sanctuary Advisors LLC now owns 9,050 shares of the medical research company’s stock worth $1,001,000 after purchasing an additional 4,118 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Icon by 10.3% during the 1st quarter. Principal Financial Group Inc. now owns 3,311,771 shares of the medical research company’s stock worth $366,481,000 after acquiring an additional 310,236 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Icon by 1,062.0% in the 1st quarter. Fifth Third Bancorp now owns 918 shares of the medical research company’s stock valued at $102,000 after acquiring an additional 839 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in shares of Icon by 65.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 8,954 shares of the medical research company’s stock valued at $991,000 after acquiring an additional 3,548 shares during the last quarter. Finally, Stephens Inc. AR raised its position in shares of Icon by 102.0% during the 1st quarter. Stephens Inc. AR now owns 10,547 shares of the medical research company’s stock worth $1,167,000 after acquiring an additional 5,325 shares in the last quarter. 95.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ICLR shares. Royal Bank Of Canada upgraded Icon from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $126.00 to $185.00 in a research note on Thursday, June 25th. Robert W. Baird set a $194.00 price objective on shares of Icon in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Icon from $130.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Bank of America upped their target price on shares of Icon from $125.00 to $150.00 and gave the company an “underperform” rating in a report on Thursday, June 25th. Finally, Weiss Ratings downgraded shares of Icon from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $170.40.

Icon Stock Up 2.1%

Icon stock opened at $164.51 on Friday. The stock has a 50 day moving average of $160.35 and a two-hundred day moving average of $134.86. Icon Plc has a twelve month low of $66.57 and a twelve month high of $203.91. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 38.62, a PEG ratio of 6.68 and a beta of 1.21. 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 released its quarterly 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. Icon had a return on equity of 8.02% and a net margin of 3.99%.The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the prior year, the business earned $3.26 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Icon Plc will post 9.57 earnings per share 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.