Icon (NASDAQ:ICLR) Director Sells $138,167.89 in Stock

Icon Plc (NASDAQ:ICLR) Director Eugene Pacelli Mccague sold 841 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $164.29, for a total value of $138,167.89. Following the sale, the director owned 3,811 shares of the company’s stock, valued at $626,109.19. This represents a 18.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Icon Stock Down 2.6%

Shares of ICLR opened at $163.15 on Friday. The business’s 50 day moving average is $162.50 and its 200 day moving average is $134.24. The company has a market capitalization of $12.49 billion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. Icon Plc has a 12-month low of $66.57 and a 12-month high of $203.91. 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 posted its quarterly earnings results on Thursday, July 30th. The medical research company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. Icon had a return on equity of 8.02% and a net margin of 3.99%.The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the firm earned $3.26 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Icon Plc will post 9.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Icon

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ICLR. Weiss Ratings downgraded shares of Icon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Robert W. Baird set a $194.00 price objective on Icon in a report on Friday, July 31st. Piper Sandler downgraded Icon to a “neutral” rating in a research report on Thursday, May 28th. Jefferies Financial Group restated a “buy” rating and issued a $165.00 price target on shares of Icon in a research report on Friday, May 29th. Finally, TD Cowen increased their price objective on shares of Icon from $164.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $170.40.

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.