Eldred Rock Partners LLC Acquires 118 Shares of Icon Plc $ICLR

Eldred Rock Partners LLC boosted its holdings in Icon Plc (NASDAQ:ICLR) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,627 shares of the medical research company’s stock after purchasing an additional 118 shares during the quarter. Icon accounts for about 2.3% of Eldred Rock Partners LLC’s portfolio, making the stock its 26th largest holding. Eldred Rock Partners LLC owned approximately 0.07% of Icon worth $7,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Icon by 15,701.6% during the first quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company’s stock worth $119,730,000 after purchasing an additional 67,988 shares during the period. Greenhaven Associates Inc. acquired a new stake in Icon during the second quarter worth approximately $2,565,000. Financiere des Professionnels Fonds d investissement inc. grew its position in Icon by 31.0% during the second quarter. Financiere des Professionnels Fonds d investissement inc. now owns 50,212 shares of the medical research company’s stock worth $7,303,000 after buying an additional 11,894 shares in the last quarter. Arkadios Wealth Advisors grew its position in Icon by 573.7% during the first quarter. Arkadios Wealth Advisors now owns 7,828 shares of the medical research company’s stock worth $1,370,000 after buying an additional 6,666 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in Icon by 25.3% during the first quarter. Handelsbanken Fonder AB now owns 25,905 shares of the medical research company’s stock worth $4,533,000 after buying an additional 5,229 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ICLR shares. Barclays upped their target price on Icon from $155.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. 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. Robert W. Baird raised their target price on shares of Icon from $222.00 to $224.00 and gave the company an “outperform” rating in a report on Tuesday, September 2nd. Jefferies Financial Group lowered shares of Icon from a “buy” rating to a “hold” rating and reduced their price target for the stock from $220.00 to $175.00 in a research report on Tuesday, September 9th. Finally, UBS Group increased their price target on shares of Icon from $170.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.67.

Icon Price Performance

Shares of ICLR opened at $173.13 on Wednesday. The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.52 and a beta of 1.20. The business has a 50-day moving average of $168.76 and a 200-day moving average of $157.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.29 and a quick ratio of 1.29. Icon Plc has a 1 year low of $125.10 and a 1 year high of $310.54.

Icon (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.08. Icon had a net margin of 9.82% and a return on equity of 10.95%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the business earned $3.75 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. As a group, equities research analysts anticipate that Icon Plc will post 13.38 earnings per share for the current year.

Icon Company 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.