Icon Plc $ICLR Shares Sold by Swedbank AB

Swedbank AB reduced its holdings in Icon Plc (NASDAQ:ICLR) by 16.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,150 shares of the medical research company’s stock after selling 6,550 shares during the quarter. Swedbank AB’s holdings in Icon were worth $3,558,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Icon by 1.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,080,192 shares of the medical research company’s stock valued at $203,800,000 after purchasing an additional 11,335 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in Icon in the third quarter worth about $39,074,000. Jennison Associates LLC bought a new position in Icon in the 4th quarter valued at about $123,542,000. Trinity Street Asset Management LLP grew its position in Icon by 23.1% in the 4th quarter. Trinity Street Asset Management LLP now owns 1,072,428 shares of the medical research company’s stock valued at $195,418,000 after buying an additional 201,455 shares in the last quarter. Finally, Calamos Advisors LLC acquired a new position in Icon during the 4th quarter valued at about $4,829,000. Institutional investors own 95.61% of the company’s stock.

Icon Trading Down 0.6%

NASDAQ ICLR traded down $1.05 on Friday, hitting $167.72. 308,538 shares of the company were exchanged, compared to its average volume of 912,130. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14. Icon Plc has a twelve month low of $66.57 and a twelve month high of $211.00. The firm has a market capitalization of $12.84 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 8.23 and a beta of 1.22. The company’s 50 day moving average price is $141.56 and its 200-day moving average price is $137.47.

Icon (NASDAQ:ICLR) last announced its earnings results on Tuesday, June 23rd. The medical research company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.43 by $0.07. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Icon had a net margin of 5.35% and a return on equity of 8.73%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company posted $3.43 earnings per share. Analysts predict that Icon Plc will post 9.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ICLR. Bank of America boosted their price target on shares of Icon from $125.00 to $150.00 and gave the stock an “underperform” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. raised their price objective on shares of Icon from $130.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. Jefferies Financial Group reissued a “buy” rating and set a $165.00 target price on shares of Icon in a report on Friday, May 29th. Barclays upped their target price on Icon from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Finally, UBS Group set a $160.00 price target on Icon in a research note on Wednesday, June 24th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Icon currently has an average rating of “Hold” and an average target price of $173.19.

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.