Tealwood Asset Management Inc. Lowers Stock Position in Icon Plc $ICLR

Tealwood Asset Management Inc. trimmed its position in Icon Plc (NASDAQ:ICLR) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,171 shares of the medical research company’s stock after selling 89 shares during the period. Tealwood Asset Management Inc.’s holdings in Icon were worth $752,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canoe Financial LP grew its position in Icon by 10.3% in the 2nd quarter. Canoe Financial LP now owns 193,851 shares of the medical research company’s stock valued at $28,196,000 after buying an additional 18,174 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its position in Icon by 2.6% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 99,627 shares of the medical research company’s stock valued at $17,434,000 after buying an additional 2,525 shares during the last quarter. Farmers & Merchants Investments Inc. grew its position in Icon by 2.6% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 87,573 shares of the medical research company’s stock valued at $12,737,000 after buying an additional 2,181 shares during the last quarter. GAMMA Investing LLC grew its position in Icon by 15,701.6% in the 1st quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company’s stock valued at $119,730,000 after buying an additional 67,988 shares during the last quarter. Finally, Foyston Gordon & Payne Inc grew its position in Icon by 7.8% in the 1st quarter. Foyston Gordon & Payne Inc now owns 55,766 shares of the medical research company’s stock valued at $9,758,000 after buying an additional 4,053 shares during the last quarter. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on ICLR shares. Rothschild & Co Redburn upgraded shares of Icon from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $184.00 to $236.00 in a research report on Wednesday, September 3rd. Truist Financial boosted their target price on shares of Icon from $187.00 to $234.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Evercore ISI boosted their target price on shares of Icon from $170.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Rothschild Redb upgraded shares of Icon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Citigroup restated a “neutral” rating and set a $200.00 target price (down from $225.00) on shares of Icon in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $216.67.

Icon Trading Down 0.2%

NASDAQ:ICLR opened at $163.44 on Tuesday. The company has a market capitalization of $13.20 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.43 and a beta of 1.20. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.35. Icon Plc has a 52-week low of $125.10 and a 52-week high of $303.69. The stock has a fifty day simple moving average of $172.85 and a 200-day simple moving average of $156.42.

Icon (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.08. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.98 billion. Icon had a return on equity of 10.95% and a net margin of 9.82%.The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.75 EPS. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. On average, equities research analysts expect that Icon Plc will post 13.38 earnings per share for the current fiscal year.

About Icon

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.