Motley Fool Wealth Management LLC Reduces Stock Position in Icon Plc $ICLR

Motley Fool Wealth Management LLC reduced its holdings in shares of Icon Plc (NASDAQ:ICLR) by 20.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,967 shares of the medical research company’s stock after selling 11,982 shares during the quarter. Motley Fool Wealth Management LLC owned about 0.06% of Icon worth $8,376,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ICLR. Toth Financial Advisory Corp purchased a new stake in shares of Icon during the 4th quarter valued at approximately $27,000. Ameriflex Group Inc. purchased a new stake in shares of Icon during the 3rd quarter valued at approximately $33,000. Johnson Financial Group Inc. purchased a new stake in shares of Icon during the 3rd quarter valued at approximately $71,000. Quadrant Capital Group LLC purchased a new stake in shares of Icon during the 3rd quarter valued at approximately $78,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Icon by 11.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock valued at $79,000 after buying an additional 56 shares in the last quarter. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ICLR has been the topic of a number of recent research reports. Robert W. Baird set a $119.00 price target on shares of Icon in a research note on Friday, February 13th. Barclays increased their price target on shares of Icon from $120.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Piper Sandler lowered shares of Icon to a “neutral” rating in a report on Thursday, May 28th. Truist Financial increased their price target on shares of Icon from $139.00 to $159.00 and gave the stock a “hold” rating in a report on Friday, May 29th. Finally, Leerink Partners set a $145.00 price target on shares of Icon in a report on Thursday, May 28th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $156.44.

Icon Price Performance

ICLR stock opened at $151.82 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.10 and a current ratio of 1.10. Icon Plc has a 52 week low of $66.57 and a 52 week high of $211.00. The firm’s fifty day moving average is $119.49 and its 200 day moving average is $140.63. The firm has a market cap of $11.62 billion, a P/E ratio of 24.65, a P/E/G ratio of 12.03 and a beta of 1.26.

Icon (NASDAQ:ICLR) last released its earnings results on Wednesday, June 10th. The medical research company reported $2.52 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the firm earned $3.43 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Research analysts predict that Icon Plc will post 9.74 earnings per share for the current year.

Icon 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.