Icon Plc $ICLR Position Increased by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Icon Plc by 5.6% during the second quarter, holding a total of 59,211 shares valued at approximately $8.6 million.
• Icon Plc reported $3.26 EPS for the quarter, exceeding analysts' expectations, with a total revenue of $2.02 billion, down 4.8% from the previous year.
• Institutional investors own 95.61% of Icon's stock, and the company has a consensus rating of "Moderate Buy" with an average target price of $210.64.

Aberdeen Group plc raised its holdings in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,211 shares of the medical research company's stock after purchasing an additional 3,165 shares during the period. Aberdeen Group plc owned about 0.07% of Icon worth $8,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ICLR. Ninety One UK Ltd boosted its holdings in shares of Icon by 2.6% during the second quarter. Ninety One UK Ltd now owns 2,993,652 shares of the medical research company's stock valued at $435,427,000 after acquiring an additional 75,465 shares during the period. Ninety One North America Inc. boosted its holdings in shares of Icon by 20.5% during the second quarter. Ninety One North America Inc. now owns 428,851 shares of the medical research company's stock valued at $62,376,000 after acquiring an additional 72,945 shares during the period. Running Oak Capital LLC boosted its holdings in shares of Icon by 29.2% during the second quarter. Running Oak Capital LLC now owns 107,218 shares of the medical research company's stock valued at $15,595,000 after acquiring an additional 24,260 shares during the period. Truist Financial Corp boosted its holdings in shares of Icon by 112.0% during the second quarter. Truist Financial Corp now owns 37,456 shares of the medical research company's stock valued at $5,448,000 after acquiring an additional 19,789 shares during the period. Finally, Canoe Financial LP boosted its holdings in shares of Icon by 10.3% during the second quarter. Canoe Financial LP now owns 193,851 shares of the medical research company's stock valued at $28,196,000 after acquiring an additional 18,174 shares during the period. Institutional investors and hedge funds own 95.61% of the company's stock.

Icon Price Performance

Shares of Icon stock opened at $187.85 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.35. The company's 50-day moving average price is $176.04 and its two-hundred day moving average price is $157.17. Icon Plc has a 52 week low of $125.10 and a 52 week high of $301.45. The stock has a market cap of $15.17 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.76 and a beta of 1.23.

Icon (NASDAQ:ICLR - Get Free Report) last issued its quarterly earnings results 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 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 analysts' expectations of $1.98 billion. During the same period in the previous year, the business earned $3.75 earnings per share. Icon's revenue for the quarter 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 fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ICLR. Robert W. Baird boosted their price target on shares of Icon from $222.00 to $224.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Truist Financial boosted their price target on shares of Icon from $187.00 to $234.00 and gave the company a "buy" rating in a report on Friday, July 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Icon in a report on Wednesday, October 8th. Jefferies Financial Group downgraded shares of Icon from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $220.00 to $175.00 in a report on Tuesday, September 9th. Finally, 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 report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Icon presently has a consensus rating of "Moderate Buy" and an average target price of $210.64.

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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