Foyston Gordon & Payne Inc Acquires 4,053 Shares of Icon Plc $ICLR

Key Points

• Foyston Gordon & Payne Inc increased its stake in Icon Plc by 7.8%, owning a total of 55,766 shares valued at approximately $9.76 million and making it the firm's 16th largest holding.
• Several institutional investors, including GAMMA Investing LLC, significantly enhanced their positions in Icon during Q1, with GAMMA purchasing an additional 67,988 shares, raising their stake by over 15,700%.
• Icon Plc reported Q2 earnings of $3.26 per share, surpassing estimates, despite a 4.8% year-over-year decline in revenue, indicating a mixed financial performance amidst changing market conditions.

Foyston Gordon & Payne Inc increased its position in Icon Plc (NASDAQ:ICLR - Free Report) by 7.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,766 shares of the medical research company's stock after acquiring an additional 4,053 shares during the quarter. Icon comprises about 2.4% of Foyston Gordon & Payne Inc's holdings, making the stock its 16th biggest holding. Foyston Gordon & Payne Inc owned 0.07% of Icon worth $9,758,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ICLR. State of Tennessee Department of Treasury increased its position in shares of Icon by 1.0% in the fourth quarter. State of Tennessee Department of Treasury now owns 158,947 shares of the medical research company's stock worth $33,333,000 after purchasing an additional 1,600 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Icon by 2.6% in the first quarter. Kornitzer Capital Management Inc. KS now owns 99,627 shares of the medical research company's stock worth $17,434,000 after purchasing an additional 2,525 shares during the last quarter. GAMMA Investing LLC lifted its position in Icon by 15,701.6% in the 1st quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company's stock worth $119,730,000 after buying an additional 67,988 shares during the last quarter. Captrust Financial Advisors lifted its position in Icon by 2.0% in the 4th quarter. Captrust Financial Advisors now owns 35,301 shares of the medical research company's stock worth $7,403,000 after buying an additional 701 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Icon by 25.3% in the 1st quarter. Handelsbanken Fonder AB now owns 25,905 shares of the medical research company's stock worth $4,533,000 after buying an additional 5,229 shares during the last quarter. 95.61% of the stock is currently owned by institutional investors.

Icon Trading Down 2.5%

ICLR traded down $4.55 during midday trading on Thursday, reaching $175.70. 1,204,726 shares of the company's stock traded hands, compared to its average volume of 1,310,957. The firm has a fifty day moving average of $158.31 and a two-hundred day moving average of $160.05. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 2.66 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. Icon Plc has a 52 week low of $125.10 and a 52 week 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 analysts' consensus estimates of $3.18 by $0.08. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. Icon had a return on equity of 10.95% and a net margin of 9.82%.Icon's quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.75 EPS. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. On average, equities analysts anticipate that Icon Plc will post 13.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ICLR shares. The Goldman Sachs Group dropped their target price on Icon from $180.00 to $160.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Evercore ISI boosted their target price on Icon from $170.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Barclays boosted their target price on Icon from $155.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Mizuho boosted their target price on Icon from $173.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Truist Financial raised their price target on Icon from $187.00 to $234.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Icon presently has an average rating of "Moderate Buy" and a consensus price target of $218.38.

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.