Motley Fool Wealth Management LLC Sells 11,982 Shares of Icon Plc $ICLR

Motley Fool Wealth Management LLC lessened its position in Icon Plc (NASDAQ:ICLR) by 20.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 45,967 shares of the medical research company’s stock after selling 11,982 shares during the period. Motley Fool Wealth Management LLC’s holdings in Icon were worth $8,376,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Muhlenkamp & Co. Inc. bought a new stake in Icon in the 3rd quarter worth $12,857,000. Mitchell Capital Management Co. purchased a new stake in shares of Icon in the 3rd quarter worth about $1,627,000. First National Bank of Omaha purchased a new stake in shares of Icon in the 3rd quarter worth about $6,267,000. Allspring Global Investments Holdings LLC lifted its position in shares of Icon by 1.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,080,192 shares of the medical research company’s stock worth $203,800,000 after purchasing an additional 11,335 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Icon in the 3rd quarter worth about $39,074,000. Institutional investors own 95.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ICLR. JPMorgan Chase & Co. raised their target price 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. Citigroup raised their target price on shares of Icon from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. DA Davidson set a $164.00 target price on shares of Icon in a research report on Monday, June 1st. Zacks Research cut shares of Icon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Finally, Leerink Partners set a $145.00 target price on shares of Icon in a research report on Thursday, May 28th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Icon presently has a consensus rating of “Hold” and an average price target of $156.44.

Icon Trading Down 0.3%

Shares of NASDAQ ICLR opened at $151.82 on Wednesday. Icon Plc has a 1 year low of $66.57 and a 1 year high of $211.00. The stock has a market cap of $11.62 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 12.03 and a beta of 1.26. The firm has a 50-day moving average of $119.49 and a 200 day moving average of $140.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.10 and a quick ratio of 1.10.

Icon (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, June 10th. The medical research company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.05. Icon had a net margin of 5.98% and a return on equity of 9.50%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the company posted $3.43 EPS. Icon’s revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Icon Plc will post 9.74 EPS 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.