Greenhaven Associates Inc. Acquires New Stake in Icon Plc $ICLR

Key Points

• Greenhaven Associates Inc. has acquired a new stake in Icon Plc, purchasing 17,633 shares valued at approximately $2.57 million during the second quarter.
• Icon Plc reported a quarterly earnings per share (EPS) of $3.26, exceeding analysts' expectations of $3.18, but showed a 4.8% decrease in revenue year-over-year.
• Analysts have set new price targets for Icon, with estimates ranging from $200.00 to $240.00, reflecting a consensus rating of "Moderate Buy" among investment analysts.

Greenhaven Associates Inc. acquired a new stake in shares of Icon Plc (NASDAQ:ICLR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,633 shares of the medical research company's stock, valued at approximately $2,565,000. Icon makes up approximately 0.0% of Greenhaven Associates Inc.'s holdings, making the stock its 15th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICLR. SVB Wealth LLC bought a new position in Icon during the 1st quarter valued at approximately $28,000. NBC Securities Inc. bought a new position in Icon during the 1st quarter valued at approximately $59,000. Greykasell Wealth Strategies Inc. bought a new position in Icon during the 1st quarter valued at approximately $69,000. Farther Finance Advisors LLC increased its position in Icon by 22.8% during the 1st quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company's stock valued at $99,000 after buying an additional 110 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new position in Icon during the 1st quarter valued at approximately $101,000. Institutional investors own 95.61% of the company's stock.

Icon Stock Performance

Shares of ICLR opened at $175.00 on Monday. 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 one year low of $125.10 and a one year high of $310.54. The firm has a market capitalization of $14.13 billion, a P/E ratio of 18.00, a PEG ratio of 2.59 and a beta of 1.20. The business has a fifty day moving average of $167.87 and a 200 day moving average of $157.48.

Icon (NASDAQ:ICLR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $3.26 EPS for the quarter, topping 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 company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $3.75 earnings per share. Icon's revenue 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, sell-side analysts anticipate that Icon Plc will post 13.38 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Robert W. Baird raised their price objective on Icon from $222.00 to $224.00 and gave the company an "outperform" rating in a research report on Tuesday, September 2nd. Truist Financial lifted their target price on Icon from $187.00 to $234.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Evercore ISI boosted their price target on Icon from $170.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Citigroup restated a "neutral" rating and issued a $200.00 price target (down previously from $225.00) on shares of Icon in a research note on Thursday, August 21st. Finally, Rothschild & Co Redburn upgraded Icon from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $184.00 to $236.00 in a research note on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.