Farmers & Merchants Investments Inc. Purchases 2,181 Shares of Icon Plc $ICLR

Key Points

• Farmers & Merchants Investments Inc. has increased its stake in Icon Plc by 2.6%, owning 87,573 shares valued at approximately $12.74 million as of its most recent filing with the SEC.
• Icon Plc reported earnings of $3.26 per share for the last quarter, surpassing analysts' expectations, with revenues amounting to $2.02 billion, though this represents a 4.8% decline compared to the previous year.
• The stock has a current market cap of $14.05 billion and is trading down 3.0%, with analysts providing a consensus target price of $216.67.

Farmers & Merchants Investments Inc. boosted its position in Icon Plc (NASDAQ:ICLR - Free Report) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,573 shares of the medical research company's stock after acquiring an additional 2,181 shares during the quarter. Farmers & Merchants Investments Inc. owned 0.11% of Icon worth $12,737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of Icon in the 1st quarter valued at about $28,000. NBC Securities Inc. purchased a new stake in Icon in the 1st quarter valued at about $59,000. Bruce G. Allen Investments LLC raised its stake in shares of Icon by 1,772.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 412 shares of the medical research company's stock worth $60,000 after purchasing an additional 390 shares during the period. Greykasell Wealth Strategies Inc. bought a new stake in shares of Icon in the 1st quarter worth approximately $69,000. Finally, Farther Finance Advisors LLC raised its stake in Icon by 22.8% in the 1st quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company's stock valued at $99,000 after acquiring an additional 110 shares during the period. 95.61% of the stock is owned by institutional investors.

Icon Price Performance

ICLR stock traded down $3.20 during mid-day trading on Monday, reaching $170.80. 767,566 shares of the company's stock were exchanged, compared to its average volume of 1,030,718. The stock's 50 day moving average is $170.69 and its 200 day moving average is $156.96. 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 company has a market cap of $13.79 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 2.58 and a beta of 1.20. Icon Plc has a 12-month low of $125.10 and a 12-month high of $305.14.

Icon (NASDAQ:ICLR - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.98 billion. During the same period in the prior year, the firm earned $3.75 EPS. The firm'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. On average, research analysts expect that Icon Plc will post 13.38 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays upped 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. Rothschild Redb upgraded shares of Icon from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Evercore ISI boosted their target price on shares of Icon from $170.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Mizuho increased their target price on Icon from $173.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Jefferies Financial Group downgraded Icon from a "buy" rating to a "hold" rating and lowered their price target for the company from $220.00 to $175.00 in a report on Tuesday, September 9th. Two research 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.67.

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.