Insider Selling: Icon (NASDAQ:ICLR) Director Sells $138,167.89 in Stock

Icon Plc (NASDAQ:ICLR) Director Ronan Martin Murphy sold 841 shares of Icon 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 completion of the sale, the director owned 3,847 shares in the company, valued at approximately $632,023.63. This represents a 17.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Icon Stock Performance

Shares of ICLR stock opened at $163.15 on Friday. The stock has a fifty day moving average of $162.50 and a 200 day moving average of $134.24. Icon Plc has a 52 week low of $66.57 and a 52 week high of $203.91. The firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 38.30, a PEG ratio of 6.94 and a beta of 1.21. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.23.

Icon (NASDAQ:ICLR) last issued 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 net margin of 3.99% and a return on equity of 8.02%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the business earned $3.26 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts expect that Icon Plc will post 9.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on ICLR shares. Jefferies Financial Group restated a “buy” rating and issued a $165.00 price objective on shares of Icon in a report on Friday, May 29th. DA Davidson set a $164.00 target price on Icon in a report on Monday, June 1st. TD Cowen increased their target price on Icon from $164.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Barclays raised their target price on Icon from $160.00 to $175.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings lowered Icon from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $170.40.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. EFG International AG bought a new stake in Icon during the fourth quarter worth about $27,000. Abound Financial LLC bought a new position in shares of Icon during the fourth quarter valued at approximately $54,000. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 69 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Icon in the 3rd quarter worth approximately $71,000. Finally, Blue Trust Inc. boosted its position in shares of Icon by 207.5% in the 1st quarter. Blue Trust Inc. now owns 658 shares of the medical research company’s stock worth $73,000 after purchasing an additional 444 shares in the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

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.