Key Points
- CEO Barry Edward Balfe sold 382 Icon shares at an average price of $164.07, generating $62,674.74. The sale covered tax-withholding obligations tied to vested equity awards and reduced his direct holdings by 7.37% to 4,804 shares.
- Icon reported quarterly EPS of $2.56, slightly exceeding estimates, while revenue rose 2.3% year over year to $2.06 billion. Analysts expect full-year EPS of approximately $9.57.
- Wall Street’s consensus rating is Hold, with an average price target of $170.40; shares recently opened at $165.58, near the consensus target.
Icon Plc (NASDAQ:ICLR - Get Free Report) CEO Barry Edward Balfe sold 382 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $164.07, for a total value of $62,674.74. Following the completion of the sale, the chief executive officer directly owned 4,804 shares of the company's stock, valued at approximately $788,192.28. The trade was a 7.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Icon Price Performance
Shares of ICLR opened at $165.58 on Wednesday. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 38.87, a PEG ratio of 6.88 and a beta of 1.21. Icon Plc has a 1-year low of $66.57 and a 1-year high of $203.91. The company's fifty day simple moving average is $161.47 and its 200 day simple moving average is $134.31. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23.
Icon (NASDAQ:ICLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical research company reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.01. Icon had a net margin of 3.99% and a return on equity of 8.02%. The firm had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $2 billion. During the same quarter last year, the company posted $3.26 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts forecast that Icon Plc will post 9.57 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms recently commented on ICLR. Piper Sandler cut Icon to a "neutral" rating in a report on Thursday, May 28th. BMO Capital Markets upped their price objective on Icon from $160.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday, June 25th. Leerink Partners set a $145.00 price objective on Icon in a research report on Thursday, May 28th. Mizuho lifted their target price on Icon from $180.00 to $190.00 and gave the stock an "outperform" rating in a research note on Friday, June 26th. Finally, DA Davidson set a $164.00 target price on Icon in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $170.40.
Read Our Latest Research Report on ICLR
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. EFG International AG bought a new position in Icon in the 4th quarter valued at about $27,000. Abound Financial LLC bought a new stake in shares of Icon during the fourth quarter worth approximately $54,000. GAMMA Investing LLC boosted 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 worth $68,000 after acquiring an additional 69 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Icon in the third quarter valued at approximately $71,000. Finally, Blue Trust Inc. increased its stake in shares of Icon by 207.5% during the first quarter. Blue Trust Inc. now owns 658 shares of the medical research company's stock worth $73,000 after purchasing an additional 444 shares during the period. Institutional investors and hedge funds own 95.61% of the company's stock.
Icon Company Profile
(
Get Free Report)
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.
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