Icon Plc $ICLR Shares Sold by Strategic Global Advisors LLC

Strategic Global Advisors LLC lowered its position in shares of Icon Plc (NASDAQ:ICLR) by 42.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,407 shares of the medical research company’s stock after selling 20,158 shares during the period. Strategic Global Advisors LLC’s holdings in Icon were worth $4,994,000 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 made changes to their positions in ICLR. Harris Associates L P acquired a new stake in shares of Icon during the 2nd quarter worth approximately $238,256,000. Capital World Investors boosted its position in shares of Icon by 555.2% during the 4th quarter. Capital World Investors now owns 1,496,479 shares of the medical research company’s stock worth $272,688,000 after purchasing an additional 1,268,095 shares during the period. Wellington Management Group LLP boosted its position in shares of Icon by 26.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock worth $811,499,000 after purchasing an additional 975,268 shares during the period. Lyrical Asset Management LP purchased a new position in shares of Icon during the 4th quarter worth approximately $176,382,000. Finally, Norges Bank purchased a new position in shares of Icon during the 4th quarter worth approximately $160,073,000. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Icon from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Rothschild & Co Redburn set a $100.00 price objective on shares of Icon and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Piper Sandler cut shares of Icon to a “neutral” rating in a research report on Thursday, May 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $165.00 price objective on shares of Icon in a research report on Friday, May 29th. Finally, TD Cowen increased their price objective on shares of Icon from $120.00 to $164.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $156.44.

Icon Stock Performance

NASDAQ:ICLR opened at $146.18 on Monday. The company has a fifty day simple moving average of $121.76 and a two-hundred day simple moving average of $140.30. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 11.55 and a beta of 1.26. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.31. Icon Plc has a 52 week low of $66.57 and a 52 week high of $211.00.

Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, June 17th. The medical research company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.47 by $0.05. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.99 billion. Icon had a net margin of 5.98% and a return on equity of 9.50%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.43 earnings per share. As a group, equities analysts anticipate that Icon Plc will post 9.74 earnings per share for the current fiscal year.

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.