Icon Plc $ICLR is Hudson Edge Investment Partners Inc.'s 5th Largest Position

Key Points

• Hudson Edge Investment Partners Inc. reduced its stake in Icon Plc by 1.6% during the 2nd quarter, now holding 178,575 shares, making it the fund's 5th largest position at 4.4% of its portfolio.
• Icon reported $3.26 earnings per share in its latest quarterly results, surpassing analyst expectations of $3.18, despite a year-over-year revenue decline of 4.8%.
• Multiple analysts have upgraded Icon's stock ratings, with price targets raised significantly; Rothschild & Co Redburn set a new target of $236.00, indicating strong bullish sentiment.

Hudson Edge Investment Partners Inc. decreased its holdings in Icon Plc (NASDAQ:ICLR - Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,575 shares of the medical research company's stock after selling 2,990 shares during the quarter. Icon comprises 4.4% of Hudson Edge Investment Partners Inc.'s investment portfolio, making the stock its 5th largest holding. Hudson Edge Investment Partners Inc. owned 0.22% of Icon worth $25,974,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Transcend Capital Advisors LLC raised its position in Icon by 7.6% in the 1st quarter. Transcend Capital Advisors LLC now owns 1,174 shares of the medical research company's stock valued at $205,000 after purchasing an additional 83 shares during the last quarter. First National Bank Sioux Falls raised its position in Icon by 5.7% in the 2nd quarter. First National Bank Sioux Falls now owns 1,580 shares of the medical research company's stock valued at $230,000 after purchasing an additional 85 shares during the last quarter. Farther Finance Advisors LLC raised its position 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 purchasing an additional 110 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in Icon by 8.7% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,657 shares of the medical research company's stock valued at $290,000 after purchasing an additional 132 shares during the last quarter. Finally, Horizon Investments LLC raised its position in Icon by 23.7% in the 1st quarter. Horizon Investments LLC now owns 808 shares of the medical research company's stock valued at $141,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company's stock.

Icon Stock Performance

NASDAQ:ICLR opened at $192.96 on Friday. 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 Plc has a fifty-two week low of $125.10 and a fifty-two week high of $303.69. The stock has a market cap of $15.58 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 2.85 and a beta of 1.23. The firm's fifty day simple moving average is $173.57 and its 200-day simple moving average is $156.84.

Icon (NASDAQ:ICLR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share for the quarter, topping analysts' consensus estimates of $3.18 by $0.08. Icon had a net margin of 9.82% and a return on equity of 10.95%. The business had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the prior year, the company posted $3.75 EPS. The business'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. Analysts expect that Icon Plc will post 13.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ICLR. Rothschild & Co Redburn upgraded shares of Icon from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $184.00 to $236.00 in a research report on Wednesday, September 3rd. Barclays upped their price objective on shares of Icon from $180.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Thursday. UBS Group upped their price objective on shares of Icon from $170.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Truist Financial upped their price objective on shares of Icon from $187.00 to $234.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Robert W. Baird upped their price objective on shares of Icon from $222.00 to $224.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $217.33.

About Icon

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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