FineMark National Bank & Trust Sells 333 Shares of Icon Plc $ICLR

FineMark National Bank & Trust lowered its holdings in Icon Plc (NASDAQ:ICLR) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,254 shares of the medical research company’s stock after selling 333 shares during the quarter. FineMark National Bank & Trust’s holdings in Icon were worth $7,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its position in Icon by 21.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,752,008 shares of the medical research company’s stock worth $545,730,000 after buying an additional 650,379 shares during the last quarter. Ninety One UK Ltd raised its holdings in shares of Icon by 2.6% during the second quarter. Ninety One UK Ltd now owns 2,993,652 shares of the medical research company’s stock valued at $435,427,000 after purchasing an additional 75,465 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Icon by 18.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,060,499 shares of the medical research company’s stock valued at $157,887,000 after purchasing an additional 162,853 shares during the last quarter. First Pacific Advisors LP lifted its position in Icon by 76.3% during the second quarter. First Pacific Advisors LP now owns 964,120 shares of the medical research company’s stock valued at $140,231,000 after purchasing an additional 417,173 shares during the period. Finally, Equity Investment Corp purchased a new stake in Icon in the second quarter worth approximately $82,264,000. 95.61% of the stock is owned by hedge funds and other institutional investors.

Icon Stock Up 2.9%

ICLR stock opened at $161.02 on Wednesday. The business’s 50-day moving average price is $174.92 and its 200-day moving average price is $161.15. The stock has a market cap of $13.00 billion, a P/E ratio of 21.79, a PEG ratio of 3.04 and a beta of 1.22. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. Icon Plc has a twelve month low of $125.10 and a twelve month high of $228.29.

Icon (NASDAQ:ICLR) last released its earnings results on Wednesday, October 22nd. The medical research company reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.03. Icon had a net margin of 7.40% and a return on equity of 10.58%. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the firm posted $3.35 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts forecast that Icon Plc will post 13.38 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ICLR shares. Barclays decreased their target price on shares of Icon from $190.00 to $185.00 and set an “equal weight” rating for the company in a research note on Friday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of Icon in a research note on Wednesday, October 8th. Zacks Research cut shares of Icon from a “hold” rating to a “strong sell” rating in a research note on Monday, October 27th. TD Cowen dropped their price objective on shares of Icon from $183.00 to $172.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Finally, Cowen restated a “hold” rating on shares of Icon in a research report on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

Icon 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.