Icon (NASDAQ:ICLR) Director Linda Grais Sells 841 Shares

Icon Plc (NASDAQ:ICLR) Director Linda Grais sold 841 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $164.29, for a total transaction of $138,167.89. Following the completion of the transaction, the director owned 6,162 shares in the company, valued at $1,012,354.98. This trade represents a 12.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Icon Stock Performance

Icon stock traded up $1.59 during midday trading on Wednesday, hitting $167.17. The company’s stock had a trading volume of 804,300 shares, compared to its average volume of 1,385,099. Icon Plc has a 1-year low of $66.57 and a 1-year high of $203.91. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50-day moving average price of $161.47 and a two-hundred day moving average price of $134.31. The company has a market cap of $12.80 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 6.88 and a beta of 1.21.

Icon (NASDAQ:ICLR) last announced its earnings results on Thursday, July 30th. The medical research company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. Icon had a net margin of 3.99% and a return on equity of 8.02%. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the business posted $3.26 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Icon Plc will post 9.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Firetrail Investments PTY Ltd. acquired a new stake in shares of Icon in the 2nd quarter valued at approximately $12,021,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Icon during the 2nd quarter worth approximately $33,807,000. Trinity Street Asset Management LLP increased its position in Icon by 27.1% during the 2nd quarter. Trinity Street Asset Management LLP now owns 1,535,462 shares of the medical research company’s stock worth $266,725,000 after purchasing an additional 327,314 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Icon by 463.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 71,817 shares of the medical research company’s stock valued at $12,475,000 after purchasing an additional 59,078 shares during the last quarter. Finally, Polianta Ltd acquired a new position in shares of Icon during the second quarter worth $1,876,000. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ICLR shares. TD Cowen raised their price objective on Icon from $164.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Barclays upped their target price on Icon from $160.00 to $175.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. increased their target price on Icon from $130.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. DA Davidson set a $164.00 price target on Icon in a research note on Monday, June 1st. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Icon has a consensus rating of “Hold” and a consensus target price of $170.40.

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.