Bank of America Corp DE Has $60.14 Million Stock Holdings in Icon Plc $ICLR

Key Points

• Bank of America reduced its Icon holdings by 10.9% in the first quarter, selling 66,178 shares and retaining 543,487 shares worth approximately $60.14 million, or 0.67% of the company.
• Institutional investors and hedge funds own 95.61% of Icon’s stock, while several smaller investment firms recently initiated or increased positions.
• Icon exceeded quarterly earnings expectations with EPS of $2.56 and revenue of $2.06 billion, though earnings declined year over year. Analysts maintain a consensus “Hold” rating with an average price target of $170.40.

Bank of America Corp DE trimmed its holdings in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 10.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 543,487 shares of the medical research company's stock after selling 66,178 shares during the period. Bank of America Corp DE owned approximately 0.67% of Icon worth $60,142,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. EFG International AG bought a new stake in Icon in the fourth quarter valued at $27,000. Abound Financial LLC acquired a new stake in shares of Icon in the 4th quarter valued at $54,000. Johnson Financial Group Inc. bought a new stake in shares of Icon in the 3rd quarter worth about $71,000. Blue Trust Inc. increased its position in shares of Icon by 207.5% during the 1st quarter. Blue Trust Inc. now owns 658 shares of the medical research company's stock worth $73,000 after purchasing an additional 444 shares in the last quarter. Finally, Quadrant Capital Group LLC bought a new position in Icon during the 3rd quarter valued at about $78,000. Institutional investors and hedge funds own 95.61% of the company's stock.

Icon Stock Performance

NASDAQ ICLR opened at $166.05 on Tuesday. Icon Plc has a 1 year low of $66.57 and a 1 year high of $203.91. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $12.71 billion, a P/E ratio of 38.98, a price-to-earnings-growth ratio of 6.82 and a beta of 1.21. The firm's fifty day moving average price is $160.91 and its two-hundred day moving average price is $134.45.

Icon (NASDAQ:ICLR - Get Free Report) last posted its earnings results on Thursday, July 30th. The medical research company reported $2.56 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $2 billion. During the same quarter last year, the company posted $3.26 EPS. Icon's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Icon Plc will post 9.57 EPS for the current year.

Analyst Ratings Changes

ICLR has been the topic of several research analyst reports. DA Davidson set a $164.00 price objective on shares of Icon in a research note on Monday, June 1st. JPMorgan Chase & Co. increased their price target on Icon from $130.00 to $155.00 and gave the stock a "neutral" rating in a research report on Thursday, June 25th. Barclays raised their price target on Icon from $160.00 to $175.00 and gave the company an "equal weight" rating in a report on Thursday, June 25th. Truist Financial restated 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, BMO Capital Markets upped their price target on Icon from $160.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday, June 25th. 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 stock presently has a consensus rating of "Hold" and an average price target of $170.40.

Icon Profile

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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