Canoe Financial LP Increases Position in Icon Plc $ICLR

Key Points

• Canoe Financial LP increased its stake in Icon Plc by 10.3%, holding 193,851 shares valued at $28.20 million as of the latest quarter.
• Icon Plc's stock has a market capitalization of $14.49 billion and recently opened at $179.43 with a price-to-earnings ratio of 18.46.
• Analysts show a generally positive outlook for Icon, with a consensus rating of "Moderate Buy" and a price target of $216.67.

Canoe Financial LP grew its holdings in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 10.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 193,851 shares of the medical research company's stock after acquiring an additional 18,174 shares during the period. Canoe Financial LP owned 0.24% of Icon worth $28,196,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Kornitzer Capital Management Inc. KS grew its stake in shares of Icon by 2.6% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 99,627 shares of the medical research company's stock valued at $17,434,000 after buying an additional 2,525 shares during the period. GAMMA Investing LLC grew its stake in shares of Icon by 15,701.6% in the 1st quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company's stock valued at $119,730,000 after buying an additional 67,988 shares during the period. Foyston Gordon & Payne Inc lifted its position in Icon by 7.8% in the 1st quarter. Foyston Gordon & Payne Inc now owns 55,766 shares of the medical research company's stock valued at $9,758,000 after acquiring an additional 4,053 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. lifted its position in Icon by 31.0% in the 2nd quarter. Financiere des Professionnels Fonds d investissement inc. now owns 50,212 shares of the medical research company's stock valued at $7,303,000 after acquiring an additional 11,894 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its position in shares of Icon by 1.3% during the 2nd quarter. Gateway Investment Advisers LLC now owns 41,156 shares of the medical research company's stock worth $5,986,000 after buying an additional 516 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Icon Trading Up 0.5%

Icon stock traded up $0.81 during mid-day trading on Tuesday, hitting $171.61. The company's stock had a trading volume of 122,180 shares, compared to its average volume of 1,276,799. The business has a 50 day moving average price of $170.69 and a 200-day moving average price of $156.96. Icon Plc has a 12 month low of $125.10 and a 12 month high of $303.69. The stock has a market cap of $13.86 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 2.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.29 and a quick ratio of 1.29.

Icon (NASDAQ:ICLR - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.18 by $0.08. Icon had a net margin of 9.82% and a return on equity of 10.95%. The firm had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter in the previous year, the company earned $3.75 earnings per share. The company's revenue for the quarter was down 4.8% compared to the same quarter last year. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. As a group, analysts forecast that Icon Plc will post 13.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ICLR. Robert W. Baird lifted their target price on shares of Icon from $222.00 to $224.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Mizuho lifted their target price on shares of Icon from $173.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Rothschild & Co Redburn raised shares of Icon from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $184.00 to $236.00 in a research report on Wednesday, September 3rd. Barclays lifted their target price on shares of Icon from $155.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Finally, UBS Group raised their price target on shares of Icon from $170.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Icon currently has a consensus rating of "Moderate Buy" and an average target price of $216.67.

Icon Company Profile

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.