Canoe Financial LP Buys 18,174 Shares of Icon Plc $ICLR

Canoe Financial LP raised its stake in Icon Plc (NASDAQ:ICLR) by 10.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 193,851 shares of the medical research company’s stock after acquiring an additional 18,174 shares during the period. Canoe Financial LP’s holdings in Icon were worth $28,196,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC bought a new position in Icon in the first quarter valued at approximately $28,000. NBC Securities Inc. bought a new position in Icon in the first quarter valued at approximately $59,000. Bruce G. Allen Investments LLC lifted its stake in Icon by 1,772.7% in the second quarter. Bruce G. Allen Investments LLC now owns 412 shares of the medical research company’s stock valued at $60,000 after buying an additional 390 shares in the last quarter. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Icon in the first quarter valued at approximately $69,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Icon by 22.8% in the first quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company’s stock valued at $99,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 95.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ICLR. Rothschild & Co Redburn upgraded shares of Icon from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $184.00 to $236.00 in a report on Wednesday, September 3rd. Rothschild Redb upgraded shares of Icon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Baird R W upgraded shares of Icon from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Evercore ISI lifted their price objective on shares of Icon from $170.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, Jefferies Financial Group downgraded shares of Icon from a “buy” rating to a “hold” rating and lowered their price objective for the company from $220.00 to $175.00 in a report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Icon has an average rating of “Moderate Buy” and a consensus target price of $216.67.

Icon Price Performance

Shares of ICLR opened at $179.43 on Friday. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.60 and a beta of 1.20. Icon Plc has a 1-year low of $125.10 and a 1-year high of $310.54. The company’s fifty day simple moving average is $169.80 and its 200 day simple moving average is $157.53. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.35.

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

About Icon

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.