Icon (NASDAQ:ICLR) Stock: Insider Nigel Bernard John Clerkin Sells 1,488 Shares

Icon Plc (NASDAQ:ICLR) CFO Bernard Clerkin sold 1,488 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $206.66, for a total transaction of $307,510.08. Following the completion of the transaction, the chief financial officer directly owned 7,171 shares of the company’s stock, valued at approximately $1,481,958.86. The trade was a 17.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nigel Bernard John Clerkin also recently made the following trade(s):

• On Tuesday, August 11th, Bernard Clerkin sold 2,267 shares of Icon stock. The shares were sold at an average price of $164.29, for a total transaction of $372,445.43.

Icon Trading Down 0.3%

Icon stock opened at $203.11 on Thursday. The stock has a market cap of $15.55 billion, a P/E ratio of 34.96, a PEG ratio of 11.29 and a beta of 1.19. Icon Plc has a fifty-two week low of $66.57 and a fifty-two week high of $219.04. The firm’s fifty day moving average price is $173.91 and its 200-day moving average price is $146.83. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.32.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Tuesday, October 27th. The medical research company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.04. Icon had a return on equity of 7.73% and a net margin of 5.45%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the company earned $3.31 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. Equities research analysts forecast that Icon Plc will post 9.71 earnings per share for the current fiscal year.

Key Icon News

Here are the key news stories impacting Icon this week:

• Positive Sentiment: ICON’s consensus price target was reported to have risen 23.33% to $239.19, indicating improved analyst expectations. Article: ICON public limited consensus price target increased by 23.33% to $239.19
• Positive Sentiment: A report highlights ICON’s use of AI to accelerate clinical trials. If it improves trial speed or efficiency, this could support the company’s value proposition to drug developers, though the article does not quantify the financial impact. Article: ICON PLC (ICLR) Is Leveraging AI to Accelerate Clinical Trials
• Neutral Sentiment: CEO Barry Balfe, CFO Bernard Clerkin, and CAO Emer Lyons reported share sales on November 2. The filings say these sales covered tax withholding on vested equity awards, making them less clear-cut as a bearish signal. Article: Insider Selling: ICON CAO Sells Stock
• Negative Sentiment: Director Ciaran Murray sold 3,452 shares, about 16.9% of his reported holdings. The report did not provide a reason for the sale, which may add to investor concern about insider selling. SEC filing for director share sale

Wall Street Analyst Weigh In

Several brokerages have recently commented on ICLR. Bank of America raised Icon from an “underperform” rating to a “neutral” rating and set a $185.00 price objective for the company in a report on Friday, October 9th. Royal Bank Of Canada raised their target price on shares of Icon from $185.00 to $226.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. William Blair raised shares of Icon to a “strong-buy” rating in a research note on Thursday, July 30th. Citigroup lifted their target price on shares of Icon from $175.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $250.00 price target on shares of Icon in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.76.

Institutional Investors Weigh In On Icon

Several hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Icon in the 3rd quarter valued at $38,000. GAMMA Investing LLC raised its position in Icon by 21.4% in the 2nd quarter. GAMMA Investing LLC now owns 391 shares of the medical research company’s stock worth $68,000 after purchasing an additional 69 shares during the period. Fifth Third Bancorp raised its position in Icon by 1,062.0% in the 1st quarter. Fifth Third Bancorp now owns 918 shares of the medical research company’s stock worth $102,000 after purchasing an additional 839 shares during the period. Parkside Financial Bank & Trust raised its position in Icon by 120.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 616 shares of the medical research company’s stock worth $107,000 after purchasing an additional 336 shares during the period. Finally, Bessemer Group Inc. lifted its stake in Icon by 804.8% in the first quarter. Bessemer Group Inc. now owns 1,312 shares of the medical research company’s stock worth $145,000 after purchasing an additional 1,167 shares during the last quarter. Institutional investors own 95.61% of the company’s stock.

About Icon

ICON plc is a global contract research organization that provides outsourced development services to pharmaceutical, biotechnology and medical device companies. The company supports clinical research programs from early development through late-stage trials, regulatory submission and post-marketing activities.

Its services include clinical trial management, medical and regulatory consulting, biostatistics, data management, pharmacovigilance, laboratory services and real-world evidence solutions.