Key Points
- Director Linda Grais sold 841 Icon shares for approximately $138,168 at an average price of $164.29, reducing her ownership by 12.01%. The sale was made to cover tax-withholding obligations tied to vested equity awards.
- Icon’s latest quarterly results modestly beat expectations, with EPS of $2.56 versus the $2.55 consensus and revenue of $2.06 billion versus $2.00 billion estimated. Revenue rose 2.3% year over year, though EPS declined from $3.26 in the prior-year quarter.
- The stock opened at $167.17, while analysts maintain an average “Hold” rating and a $170.40 target price. Icon trades at a relatively high valuation, including a P/E ratio of 39.24 and PEG ratio of 6.86, and institutional investors own 95.61% of its shares.
Icon Plc (NASDAQ:ICLR - Get Free Report) Director Linda Grais sold 841 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $164.29, for a total transaction of $138,167.89. Following the transaction, the director owned 6,162 shares of the company's stock, valued at $1,012,354.98. This trade represents a 12.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Icon Trading Up 1.0%
Icon stock opened at $167.17 on Thursday. 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 Plc has a fifty-two week low of $66.57 and a fifty-two week high of $203.91. The stock has a market cap of $12.80 billion, a P/E ratio of 39.24, a PEG ratio of 6.86 and a beta of 1.21. The firm's fifty day moving average price is $161.93 and its 200-day moving average price is $134.18.
Icon (NASDAQ:ICLR - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The medical research company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.01. Icon had a return on equity of 8.02% and a net margin of 3.99%.The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the company earned $3.26 earnings per share. The firm's quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Icon Plc will post 9.57 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Jennison Associates LLC purchased a new position in Icon during the 4th quarter valued at about $123,542,000. Calamos Advisors LLC bought a new stake in shares of Icon in the 4th quarter worth approximately $4,829,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Icon during the fourth quarter valued at approximately $2,960,000. Hudson Edge Investment Partners Inc. increased its position in Icon by 29.7% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 260,449 shares of the medical research company's stock valued at $47,459,000 after purchasing an additional 59,710 shares during the period. Finally, Fisher Funds Management LTD raised its holdings in Icon by 19.0% in the 4th quarter. Fisher Funds Management LTD now owns 513,102 shares of the medical research company's stock worth $93,208,000 after purchasing an additional 82,019 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company's stock.
Key Icon News
Here are the key news stories impacting Icon this week:
- Positive Sentiment: Icon’s latest quarterly results modestly exceeded expectations. Adjusted EPS was $2.56 versus the $2.55 consensus, while revenue reached $2.06 billion, above the $2.00 billion estimate. Revenue increased 2.3% year over year, providing evidence of continued demand for its outsourced clinical-research services.
- Positive Sentiment: Analyst sentiment includes several bullish targets. BMO Capital Markets raised its target to $187 and Mizuho increased its target to $190, while William Blair upgraded the stock to “strong buy.” The broader analyst consensus remains “Hold,” with an average target of $170.40. Analyst coverage article
- Neutral Sentiment: Insider selling was widespread but appears largely administrative: CEO Barry Balfe sold 382 shares for about $62,675, CFO Nigel Clerkin sold 2,267 shares for approximately $372,445, and several directors also sold shares. The SEC filings state that the transactions were made to cover tax-withholding obligations tied to vested equity awards. Executives and directors retained shares afterward. Icon CFO insider sale
- Neutral Sentiment: Reported short interest was zero shares, indicating no measurable short-selling pressure or potential short-covering catalyst.
- Negative Sentiment: Despite the quarterly revenue beat, EPS declined from $3.26 in the comparable prior-year period. ICLR also trades at a relatively high valuation, with a price-to-earnings ratio near 39 and a PEG ratio above 6, leaving the stock sensitive to any slowdown in growth or weaker guidance.
Wall Street Analysts Forecast Growth
ICLR has been the subject of a number of research analyst reports. UBS Group set a $160.00 price target on Icon in a research report on Wednesday, June 24th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $165.00 target price on shares of Icon in a research note on Friday, May 29th. Barclays lifted their target price on shares of Icon from $160.00 to $175.00 and gave the company an "equal weight" rating in a research report on Thursday, June 25th. Royal Bank Of Canada raised shares of Icon from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $126.00 to $185.00 in a research note on Thursday, June 25th. Finally, Leerink Partners set a $145.00 price target on shares of Icon in a report on Thursday, May 28th. 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 MarketBeat, the company has an average rating of "Hold" and an average target price of $170.40.
Get Our Latest Report on ICLR
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.
Further Reading
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