Icon (NASDAQ:ICLR) CFO Sells $372,445.43 in Stock

Icon Plc (NASDAQ:ICLR) CFO Nigel Bernard John Clerkin sold 2,267 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $164.29, for a total transaction of $372,445.43. Following the completion of the sale, the chief financial officer directly owned 5,881 shares of the company’s stock, valued at $966,189.49. This represents a 27.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Icon Stock Down 2.6%

Shares of NASDAQ:ICLR opened at $163.15 on Friday. The stock’s 50-day moving average price is $162.50 and its 200-day moving average price is $134.24. Icon Plc has a 12-month low of $66.57 and a 12-month high of $203.91. The stock has a market capitalization of $12.49 billion, a P/E ratio of 38.30, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. 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 (NASDAQ:ICLR) last released its quarterly earnings data on Thursday, July 30th. The medical research company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.55 by $0.01. Icon had a return on equity of 8.02% and a net margin of 3.99%.The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the business earned $3.26 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Icon Plc will post 9.57 earnings per share for the current year.

Analysts Set New Price Targets

ICLR has been the topic of a number of analyst reports. Leerink Partners set a $145.00 price target on Icon in a research note on Thursday, May 28th. BMO Capital Markets increased their price objective on Icon from $160.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. raised their target price on shares of Icon from $130.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Royal Bank Of Canada raised shares of Icon from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $126.00 to $185.00 in a research note on Thursday, June 25th. Finally, Zacks Research upgraded shares of Icon from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Icon has a consensus rating of “Hold” and an average price target of $170.40.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. EFG International AG bought a new position in Icon during the 4th quarter valued at approximately $27,000. Abound Financial LLC bought a new stake in shares of Icon in the 4th quarter worth approximately $54,000. GAMMA Investing LLC increased its stake in shares of Icon by 21.4% during the second 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 period. Johnson Financial Group Inc. purchased a new position in shares of Icon during the third quarter valued at approximately $71,000. Finally, Blue Trust Inc. raised its holdings in shares of Icon by 207.5% during the first quarter. Blue Trust Inc. now owns 658 shares of the medical research company’s stock valued at $73,000 after acquiring an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Company Profile

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.