Key Points
- Director Eugene Pacelli Mccague sold 3,255 ICON shares at an average of $175, generating $569,625. After the transaction, his ownership fell 46.07% to 3,811 shares.
- ICON shares opened at $164.11, with the stock down 3.3%; it has a market capitalization of $12.57 billion and trades at a price-to-earnings ratio of 38.52.
- ICON slightly exceeded quarterly earnings expectations, reporting $2.56 in EPS and $2.06 billion in revenue, while analysts maintained an overall “Hold” consensus with a $170.07 target price.
Icon Plc (NASDAQ:ICLR - Get Free Report) Director Eugene Mccague sold 3,255 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $175.00, for a total transaction of $569,625.00. Following the completion of the sale, the director owned 3,811 shares in the company, valued at $666,925. This represents a 46.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Eugene Pacelli Mccague also recently made the following trade(s):
- On Tuesday, August 11th, Eugene Mccague sold 841 shares of Icon stock. The shares were sold at an average price of $164.29, for a total transaction of $138,167.89.
Icon Stock Down 3.3%
Shares of NASDAQ:ICLR opened at $164.11 on Friday. The company has a 50 day moving average price of $167.19 and a two-hundred day moving average price of $140.18. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $12.57 billion, a PE ratio of 38.52, a PEG ratio of 7.85 and a beta of 1.20. Icon Plc has a 52 week low of $66.57 and a 52 week high of $203.91.
Icon (NASDAQ:ICLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical research company reported $2.56 earnings per share for the quarter, topping 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 company had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2 billion. During the same period last year, the firm posted $3.26 earnings per share. The business's quarterly revenue was up 2.3% compared to the same quarter last year. Analysts forecast that Icon Plc will post 9.56 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages have issued reports on ICLR. UBS Group set a $160.00 price target on Icon in a report on Wednesday, June 24th. Citigroup cut their price objective on Icon from $180.00 to $175.00 and set a "neutral" rating on the stock in a report on Friday. Bank of America boosted their price objective on Icon from $125.00 to $150.00 and gave the company an "underperform" rating in a research report on Thursday, June 25th. Piper Sandler cut Icon to a "neutral" rating in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Icon from $130.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $170.07.
Check Out Our Latest Analysis on ICLR
Hedge Funds Weigh In On Icon
A number of large investors have recently modified their holdings of ICLR. Franklin Resources Inc. grew its holdings in shares of Icon by 8.7% in the 4th quarter. Franklin Resources Inc. now owns 2,993,336 shares of the medical research company's stock valued at $545,410,000 after acquiring an additional 239,808 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Icon by 10.3% during the first quarter. Principal Financial Group Inc. now owns 3,311,771 shares of the medical research company's stock worth $366,481,000 after acquiring an additional 310,236 shares in the last quarter. Capital World Investors boosted its position in Icon by 555.2% during the fourth quarter. Capital World Investors now owns 1,496,479 shares of the medical research company's stock valued at $272,688,000 after purchasing an additional 1,268,095 shares during the last quarter. Trinity Street Asset Management LLP boosted its position in Icon by 27.1% during the second quarter. Trinity Street Asset Management LLP now owns 1,535,462 shares of the medical research company's stock valued at $266,725,000 after purchasing an additional 327,314 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. grew its stake in Icon by 257.8% in the second quarter. Maple Rock Capital Partners Inc. now owns 1,199,600 shares of the medical research company's stock valued at $208,383,000 after purchasing an additional 864,300 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.
About Icon
(
Get Free Report)
ICON plc is a contract research and development organization that provides services to pharmaceutical, biotechnology, medical device and government clients. The company helps sponsors plan, manage and execute clinical development programs, supporting the progression of new medicines and healthcare products from early research through regulatory approval and commercialization.
Its services include clinical trial design and management, clinical data management, biostatistics, pharmacovigilance, regulatory consulting, medical affairs, laboratory services and real-world evidence.
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