Greenhaven Associates Inc. Takes Position 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. bought a new position in shares of Icon Plc (NASDAQ:ICLR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,633 shares of the medical research company's stock, valued at approximately $2,565,000. Icon comprises 0.0% of Greenhaven Associates Inc.'s portfolio, making the stock its 15th largest holding.

Other large investors have also modified their holdings of the company. Transcend Capital Advisors LLC increased its position in Icon by 7.6% during the 1st quarter. Transcend Capital Advisors LLC now owns 1,174 shares of the medical research company's stock worth $205,000 after purchasing an additional 83 shares in the last quarter. First National Bank Sioux Falls lifted its holdings in shares of Icon by 5.7% during the 2nd quarter. First National Bank Sioux Falls now owns 1,580 shares of the medical research company's stock worth $230,000 after acquiring an additional 85 shares during the period. Farther Finance Advisors LLC grew its holdings in Icon by 22.8% in the first quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company's stock valued at $99,000 after purchasing an additional 110 shares during the period. Pinnacle Wealth Planning Services Inc. increased its position in Icon by 8.7% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,657 shares of the medical research company's stock worth $290,000 after purchasing an additional 132 shares during the last quarter. Finally, Horizon Investments LLC raised its stake in Icon by 23.7% during the first quarter. Horizon Investments LLC now owns 808 shares of the medical research company's stock worth $141,000 after purchasing an additional 155 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ICLR. Robert W. Baird upped their price objective on Icon from $222.00 to $224.00 and gave the stock an "outperform" rating in a report on Tuesday, September 2nd. Rothschild & Co Redburn upgraded Icon from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $184.00 to $236.00 in a report on Wednesday, September 3rd. Citigroup reissued a "neutral" rating and issued a $200.00 price objective (down previously from $225.00) on shares of Icon in a research report on Thursday, August 21st. Evercore ISI boosted their price target on Icon from $170.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Rothschild Redb raised shares of Icon from a "hold" rating to a "strong-buy" rating in a report 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $216.67.

Icon Stock Performance

ICLR stock traded down $2.33 during trading on Friday, hitting $177.11. 372,704 shares of the company's stock traded hands, compared to its average volume of 1,277,823. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 2.60 and a beta of 1.20. Icon Plc has a 52 week low of $125.10 and a 52 week high of $305.14. The stock has a fifty day moving average price of $169.80 and a two-hundred day moving average price of $157.53. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.35.

Icon (NASDAQ:ICLR - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. Icon had a net margin of 9.82% and a return on equity of 10.95%. The company's quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.75 EPS. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. As a group, equities analysts anticipate that Icon Plc will post 13.38 EPS for the current fiscal year.

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.