Icon Plc (NASDAQ:ICLR) Shares Acquired by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors significantly increased its holdings in ICON PLC by 573.7%, owning 7,828 shares valued at approximately $1.37 million as of the latest SEC filing.
• Wall Street analysts have mixed views on ICON's stock, with recent downgrades from JPMorgan and TD Cowen, while Mizuho and Robert W. Baird issued upgrades, reflecting a consensus rating of "Moderate Buy" with an average target price of $219.54.
• ICON reported $3.26 EPS in its latest quarterly earnings, surpassing estimates, but noted a 4.8% revenue decline year-over-year, with total revenue for the quarter reaching $2.02 billion.

Arkadios Wealth Advisors lifted its position in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 573.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,828 shares of the medical research company's stock after buying an additional 6,666 shares during the quarter. Arkadios Wealth Advisors' holdings in Icon were worth $1,370,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ICLR. NBC Securities Inc. purchased a new stake in shares of Icon during the 1st quarter valued at about $59,000. Farther Finance Advisors LLC raised its position in shares of Icon by 22.8% during the 1st quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company's stock valued at $99,000 after buying an additional 110 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Icon during the 1st quarter valued at about $101,000. Transcend Capital Advisors LLC raised its position in shares of Icon by 7.6% during the 1st quarter. Transcend Capital Advisors LLC now owns 1,174 shares of the medical research company's stock valued at $205,000 after buying an additional 83 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Icon by 36.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,593 shares of the medical research company's stock valued at $279,000 after buying an additional 427 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Icon from $180.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. downgraded shares of Icon from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $265.00 to $150.00 in a research note on Tuesday, April 29th. UBS Group increased their price objective on shares of Icon from $170.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Evercore ISI increased their price objective on shares of Icon from $170.00 to $240.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Mizuho increased their target price on shares of Icon from $173.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $219.54.

Icon Stock Performance

ICLR stock traded up $2.20 during midday trading on Tuesday, hitting $167.00. 576,174 shares of the stock traded hands, compared to its average volume of 1,327,593. The firm has a market cap of $13.49 billion, a P/E ratio of 17.18, a PEG ratio of 2.25 and a beta of 1.17. 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's fifty day simple moving average is $150.25 and its 200-day simple moving average is $162.15. Icon Plc has a 1-year low of $125.10 and a 1-year high of $328.35.

Icon (NASDAQ:ICLR - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $3.26 EPS for the quarter, beating the consensus estimate of $3.18 by $0.08. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. Icon had a net margin of 9.82% and a return on equity of 10.95%. The firm's revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business earned $3.75 earnings per share. On average, analysts expect that Icon Plc will post 13.38 earnings per share for the current year.

About Icon

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.