Icon Plc $ICLR Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lowered its stake in shares of Icon Plc (NASDAQ:ICLR) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,068 shares of the medical research company’s stock after selling 130 shares during the period. Highland Capital Management LLC’s holdings in Icon were worth $1,028,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Ninety One UK Ltd boosted its stake in shares of Icon by 2.6% during the 2nd quarter. Ninety One UK Ltd now owns 2,993,652 shares of the medical research company’s stock worth $435,427,000 after purchasing an additional 75,465 shares during the last quarter. Ninety One North America Inc. lifted its stake in shares of Icon by 20.5% during the second quarter. Ninety One North America Inc. now owns 428,851 shares of the medical research company’s stock valued at $62,376,000 after buying an additional 72,945 shares during the period. Canoe Financial LP boosted its position in Icon by 10.3% during the second quarter. Canoe Financial LP now owns 193,851 shares of the medical research company’s stock worth $28,196,000 after acquiring an additional 18,174 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its stake in Icon by 2.6% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 99,627 shares of the medical research company’s stock worth $17,434,000 after acquiring an additional 2,525 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its stake in Icon by 2.6% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 87,573 shares of the medical research company’s stock worth $12,737,000 after acquiring an additional 2,181 shares during the period. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analyst Ratings Changes

ICLR has been the topic of several analyst reports. Rothschild Redb upgraded Icon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Mizuho increased their target price on Icon from $173.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Barclays lifted their price target on Icon from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday. Baird R W upgraded shares of Icon from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Finally, Truist Financial raised their target price on shares of Icon from $187.00 to $234.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.33.

Icon Trading Up 0.5%

ICLR opened at $193.89 on Monday. Icon Plc has a 12-month low of $125.10 and a 12-month high of $303.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $15.66 billion, a PE ratio of 19.95, a P/E/G ratio of 2.88 and a beta of 1.23. The firm’s fifty day moving average price is $173.71 and its 200 day moving average price is $156.51.

Icon (NASDAQ:ICLR) last released its earnings results on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.08. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.98 billion. Icon had a net margin of 9.82% and a return on equity of 10.95%. The company’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.75 EPS. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. As a group, research analysts expect that Icon Plc will post 13.38 EPS for the current fiscal year.

Icon Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.