Shares of Icon Plc (NASDAQ:ICLR – Get Free Report) hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $207.74 and last traded at $203.4880, with a volume of 1,468,341 shares trading hands. The stock had previously closed at $182.98.
The medical research company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.04. Icon had a net margin of 3.99% and a return on equity of 8.02%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the business posted $3.31 earnings per share. The company’s revenue was down .9% on a year-over-year basis.
More Icon News
Here are the key news stories impacting Icon this week:
- Positive Sentiment: ICON reported third-quarter adjusted earnings of $2.66 per share, ahead of estimates ranging from $2.62 to $2.64, while revenue of approximately $2.02 billion also exceeded expectations. ICON Q3 earnings and revenues beat estimates
- Positive Sentiment: Management raised its 2026 outlook, signaling improved confidence in operating performance despite ongoing pressure on earnings and revenue. The company also reported a roughly $24.5 billion backlog, supporting future demand visibility. ICON Q3 non-GAAP earnings and revenue
- Positive Sentiment: ICON completed a $2.15 billion note issuance and redeemed approximately 2.36 million shares during the third quarter. The share redemption can support per-share results and indicates continued capital allocation toward buybacks, although the new debt increases financing obligations. ICON completes note issuance and share redemption
- Neutral Sentiment: Short-interest data showed no reported shares sold short as of October 26, suggesting limited evidence of a short-covering-driven move, though the reported figure may reflect data limitations.
- Negative Sentiment: Third-quarter revenue declined about 0.9% year over year, while adjusted EPS fell from $3.31 a year earlier. This indicates that the earnings beat was measured against lowered expectations and that profitability remains under pressure. ICON third-quarter earnings results
- Neutral Sentiment: Chief Accounting Officer Emer Lyons sold 272 shares to cover tax withholding tied to vested equity awards. The relatively small, tax-related transaction is unlikely to materially affect investor sentiment. ICON CAO stock sale
Wall Street Analysts Forecast Growth
ICLR has been the subject of a number of research analyst reports. Bank of America raised Icon from an “underperform” rating to a “neutral” rating and set a $185.00 price target for the company in a report on Friday, October 9th. William Blair raised shares of Icon to a “strong-buy” rating in a report on Thursday, July 30th. Zacks Research upgraded shares of Icon from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Truist Financial reaffirmed a “buy” rating and issued a $209.00 target price (up from $207.00) on shares of Icon in a research note on Friday, July 31st. Finally, UBS Group began coverage on shares of Icon in a research report on Wednesday, September 30th. They set a “neutral” rating and a $195.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $174.73.
Read Our Latest Research Report on Icon
Insider Transactions at Icon
In other Icon news, Director Eugene Mccague sold 3,255 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $175.00, for a total value of $569,625.00. Following the transaction, the director directly owned 3,811 shares of the company’s stock, valued at approximately $666,925. This trade represents a 46.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ciaran Murray sold 2,677 shares of Icon stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $164.29, for a total transaction of $439,804.33. Following the sale, the director directly owned 20,452 shares of the company’s stock, valued at $3,360,059.08. This represents a 11.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 23,068 shares of company stock valued at $3,936,744. 44.00% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in ICLR. GAMMA Investing LLC boosted its position in shares of Icon by 21.4% in the 2nd 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 last quarter. Grove Bank & Trust lifted its stake in Icon by 30.0% in the second quarter. Grove Bank & Trust now owns 866 shares of the medical research company’s stock valued at $150,000 after buying an additional 200 shares during the period. Parkside Financial Bank & Trust lifted its stake in Icon by 120.0% in the second quarter. Parkside Financial Bank & Trust now owns 616 shares of the medical research company’s stock valued at $107,000 after buying an additional 336 shares during the period. Westpac Banking Corp raised its position in shares of Icon by 35.0% in the 1st quarter. Westpac Banking Corp now owns 1,547 shares of the medical research company’s stock valued at $171,000 after acquiring an additional 401 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Icon by 17.0% in the 1st quarter. First Trust Advisors LP now owns 2,760 shares of the medical research company’s stock valued at $305,000 after acquiring an additional 401 shares during the period. Institutional investors and hedge funds own 95.61% of the company’s stock.
Icon Stock Up 11.6%
The business’s 50-day moving average is $169.42 and its two-hundred day moving average is $146.06. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of 47.92, a P/E/G ratio of 11.98 and a beta of 1.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95.
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.
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