Boston Partners Cuts Stake in Icon Plc $ICLR

Boston Partners lowered its stake in shares of Icon Plc (NASDAQ:ICLR) by 90.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,538 shares of the medical research company’s stock after selling 548,381 shares during the period. Boston Partners’ holdings in Icon were worth $8,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ICLR. SVB Wealth LLC purchased a new position in Icon during the first quarter valued at $28,000. Ameritas Advisory Services LLC bought a new position in shares of Icon during the 2nd quarter valued at about $48,000. LRI Investments LLC purchased a new position in shares of Icon during the second quarter valued at about $49,000. Blue Trust Inc. increased its holdings in shares of Icon by 44.0% in the second quarter. Blue Trust Inc. now owns 393 shares of the medical research company’s stock worth $57,000 after purchasing an additional 120 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of Icon in the first quarter worth about $69,000. Institutional investors own 95.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ICLR. Robert W. Baird set a $220.00 price target on Icon in a report on Friday, October 24th. Mizuho raised their target price on shares of Icon from $173.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Rothschild Redb raised shares of Icon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Truist Financial increased their price objective on shares of Icon from $187.00 to $234.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Finally, Citigroup restated a “neutral” rating and issued a $200.00 target price (down from $225.00) on shares of Icon in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Icon currently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

Icon Stock Performance

Shares of NASDAQ:ICLR opened at $163.45 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31. Icon Plc has a 12 month low of $125.10 and a 12 month high of $228.29. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 3.04 and a beta of 1.22. The firm’s 50-day moving average is $175.76 and its 200 day moving average is $160.68.

Icon (NASDAQ:ICLR) last announced its earnings results on Wednesday, October 22nd. The medical research company reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.03. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.98 billion. Icon had a return on equity of 10.58% and a net margin of 7.40%.The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.35 earnings per share. Research analysts predict that Icon Plc will post 13.38 EPS for the current year.

Icon Profile

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.