Icon (NASDAQ:ICLR) Director Sells 841 Shares of Stock

Icon Plc (NASDAQ:ICLR) Director John Dr Climax sold 841 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $164.29, for a total value of $138,167.89. Following the transaction, the director directly owned 2,087 shares in the company, valued at $342,873.23. This trade represents a 28.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Icon Stock Up 1.0%

NASDAQ:ICLR traded up $1.59 during trading hours on Wednesday, hitting $167.17. The stock had a trading volume of 804,300 shares, compared to its average volume of 1,385,099. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. Icon Plc has a 1-year low of $66.57 and a 1-year high of $203.91. The business has a 50 day simple moving average of $161.47 and a two-hundred day simple moving average of $134.31. The company has a market cap of $12.80 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 6.88 and a beta of 1.21.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Thursday, July 30th. The medical research company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.01. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2 billion. Icon had a net margin of 3.99% and a return on equity of 8.02%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.26 earnings per share. Analysts predict that Icon Plc will post 9.57 EPS for the current year.

Hedge Funds Weigh In On Icon

A number of hedge funds have recently added to or reduced their stakes in the business. EFG International AG bought a new position in shares of Icon in the 4th quarter worth about $27,000. Abound Financial LLC bought a new stake in shares of Icon during the 4th quarter valued at about $54,000. GAMMA Investing LLC grew its position in shares of Icon by 21.4% during the 2nd quarter. GAMMA Investing LLC now owns 391 shares of the medical research company’s stock valued at $68,000 after buying an additional 69 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Icon during the third quarter worth about $71,000. Finally, Quadrant Capital Group LLC acquired a new stake in Icon during the third quarter worth about $78,000. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ICLR shares. Zacks Research raised Icon from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Jefferies Financial Group restated a “buy” rating and set a $165.00 price objective on shares of Icon in a research note on Friday, May 29th. TD Cowen lifted their price objective on Icon from $164.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Robert W. Baird set a $194.00 target price on Icon in a research report on Friday, July 31st. Finally, Leerink Partners set a $145.00 target price on Icon in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $170.40.

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.