Icon (NASDAQ:ICLR) Stock: Insider Barry Edward Balfe Sells 5,175 Shares

Icon Plc (NASDAQ:ICLR) CEO Barry Balfe sold 5,175 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $206.66, for a total value of $1,069,465.50. Following the transaction, the chief executive officer owned 9,291 shares of the company’s stock, valued at approximately $1,920,078.06. This trade represents a 35.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Barry Edward Balfe also recently made the following trade(s):

• On Monday, August 10th, Barry Balfe sold 382 shares of Icon stock. The shares were sold at an average price of $164.07, for a total value of $62,674.74.

Icon Stock Down 0.3%

ICLR stock opened at $203.11 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $15.55 billion, a P/E ratio of 34.96, a P/E/G ratio of 11.29 and a beta of 1.19. The business has a 50-day moving average of $173.91 and a 200-day moving average of $146.83. Icon Plc has a fifty-two week low of $66.57 and a fifty-two week high of $219.04.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Tuesday, October 27th. The medical research company reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.04. Icon had a return on equity of 7.73% and a net margin of 5.45%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the company earned $3.31 earnings per share. Icon’s quarterly revenue was down .9% on a year-over-year basis. On average, sell-side analysts anticipate that Icon Plc will post 9.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Icon from $185.00 to $226.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $250.00 target price on shares of Icon in a research report on Thursday, October 29th. Zacks Research upgraded shares of Icon from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Citigroup boosted their price target on shares of Icon from $175.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Finally, Truist Financial increased their price objective on shares of Icon from $209.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.76.

Icon News Summary

Here are the key news stories impacting Icon this week:

• Positive Sentiment: ICON’s consensus price target was reported to have risen 23.33% to $239.19, indicating improved analyst expectations. Article: ICON public limited consensus price target increased by 23.33% to $239.19
• Positive Sentiment: A report highlights ICON’s use of AI to accelerate clinical trials. If it improves trial speed or efficiency, this could support the company’s value proposition to drug developers, though the article does not quantify the financial impact. Article: ICON PLC (ICLR) Is Leveraging AI to Accelerate Clinical Trials
• Neutral Sentiment: CEO Barry Balfe, CFO Bernard Clerkin, and CAO Emer Lyons reported share sales on November 2. The filings say these sales covered tax withholding on vested equity awards, making them less clear-cut as a bearish signal. Article: Insider Selling: ICON CAO Sells Stock
• Negative Sentiment: Director Ciaran Murray sold 3,452 shares, about 16.9% of his reported holdings. The report did not provide a reason for the sale, which may add to investor concern about insider selling. SEC filing for director share sale

Hedge Funds Weigh In On Icon

A number of institutional investors have recently added to or reduced their stakes in ICLR. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Icon during the 3rd quarter worth about $38,000. 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 worth $68,000 after purchasing an additional 69 shares during the period. Fifth Third Bancorp increased its stake in shares of Icon by 1,062.0% during the first quarter. Fifth Third Bancorp now owns 918 shares of the medical research company’s stock worth $102,000 after purchasing an additional 839 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Icon by 120.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 616 shares of the medical research company’s stock worth $107,000 after purchasing an additional 336 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Icon by 804.8% during the 1st quarter. Bessemer Group Inc. now owns 1,312 shares of the medical research company’s stock worth $145,000 after purchasing an additional 1,167 shares during the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Icon Company Profile

ICON plc is a global contract research organization that provides outsourced development services to pharmaceutical, biotechnology and medical device companies. The company supports clinical research programs from early development through late-stage trials, regulatory submission and post-marketing activities.

Its services include clinical trial management, medical and regulatory consulting, biostatistics, data management, pharmacovigilance, laboratory services and real-world evidence solutions.