Equitable Trust Co. Sells 16,437 Shares of Icon Plc $ICLR

Key Points

• Equitable Trust Co. has significantly reduced its stake in Icon Plc by 91.0%, selling 16,437 shares and now holding only 1,635 shares valued at approximately $238,000.
• Other institutional investors have also adjusted their positions with some increasing their stakes, such as Allspring Global Investments boosting its holdings by 18.1% and Truist Financial increasing theirs by 112.0% in the second quarter.
• Icon Plc reported a quarterly earnings per share (EPS) of $3.26, surpassing the consensus estimate, but experienced a 4.8% year-over-year revenue decline, with guidance for FY 2025 EPS set between 13.000 and 14.000.

Equitable Trust Co. reduced its stake in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 91.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,635 shares of the medical research company's stock after selling 16,437 shares during the period. Equitable Trust Co.'s holdings in Icon were worth $238,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICLR. Allspring Global Investments Holdings LLC increased its holdings in Icon by 18.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,060,499 shares of the medical research company's stock worth $157,887,000 after purchasing an additional 162,853 shares in the last quarter. Ninety One UK Ltd boosted its stake in shares of Icon by 2.6% in the 2nd quarter. Ninety One UK Ltd now owns 2,993,652 shares of the medical research company's stock worth $435,427,000 after buying an additional 75,465 shares during the last quarter. Ninety One North America Inc. boosted its stake in shares of Icon by 20.5% in the 2nd quarter. Ninety One North America Inc. now owns 428,851 shares of the medical research company's stock worth $62,376,000 after buying an additional 72,945 shares during the last quarter. Running Oak Capital LLC boosted its stake in shares of Icon by 29.2% in the 2nd quarter. Running Oak Capital LLC now owns 107,218 shares of the medical research company's stock worth $15,595,000 after buying an additional 24,260 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in shares of Icon by 112.0% in the 2nd quarter. Truist Financial Corp now owns 37,456 shares of the medical research company's stock worth $5,448,000 after buying an additional 19,789 shares during the last quarter. 95.61% of the stock is owned by institutional investors.

Icon Price Performance

Icon stock opened at $187.85 on Thursday. Icon Plc has a 12 month low of $125.10 and a 12 month high of $301.45. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.35. The business's 50 day simple moving average is $176.04 and its 200 day simple moving average is $157.17. The company has a market cap of $15.17 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 2.76 and a beta of 1.23.

Icon (NASDAQ:ICLR - Get Free Report) last posted its quarterly earnings data 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. Icon had a return on equity of 10.95% and a net margin of 9.82%.The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the business earned $3.75 earnings per share. Icon's revenue for the quarter was down 4.8% on a year-over-year basis. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. Sell-side analysts forecast that Icon Plc will post 13.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Icon from $222.00 to $224.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Icon in a research note on Wednesday, October 8th. Truist Financial boosted their target price on Icon from $187.00 to $234.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Baird R W upgraded Icon from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Rothschild & Co Redburn upgraded Icon from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $184.00 to $236.00 in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $210.64.

Icon 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.

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