Financiere des Professionnels Fonds d investissement inc. Purchases 11,894 Shares of Icon Plc $ICLR

Key Points

• Financiere des Professionnels Fonds d investissement inc. increased its stake in Icon Plc by 31.0% during the second quarter, now holding over 50,212 shares valued at approximately $7.3 million.
• Brokerage firms, including Barclays and Mizuho, have raised their price targets for Icon, with Mizuho setting a new target of $225.00, reflecting strong analyst interest in the stock.
• Icon Plc reported earnings of $3.26 per share, exceeding estimates, with a revenue of $2.02 billion, which was below last year's numbers, indicating a 4.8% decline year-over-year.

Financiere des Professionnels Fonds d investissement inc. boosted its holdings in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 31.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,212 shares of the medical research company's stock after acquiring an additional 11,894 shares during the period. Financiere des Professionnels Fonds d investissement inc. owned approximately 0.06% of Icon worth $7,303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SVB Wealth LLC acquired a new stake in shares of Icon in the 1st quarter valued at about $28,000. NBC Securities Inc. acquired a new stake in shares of Icon in the 1st quarter valued at about $59,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Icon in the 1st quarter valued at about $69,000. Cloud Capital Management LLC acquired a new stake in shares of Icon in the 1st quarter valued at about $101,000. Finally, Farther Finance Advisors LLC raised its stake in shares of 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 period. 95.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ICLR. Cowen reaffirmed a "hold" rating on shares of Icon in a research report on Friday, September 12th. Rothschild & Co Redburn raised Icon from a "neutral" rating to a "buy" rating and lifted their target price for the company from $184.00 to $236.00 in a research report on Wednesday, September 3rd. 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. UBS Group boosted their price target on Icon from $170.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Rothschild Redb raised Icon from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. 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. Based on data from MarketBeat.com, Icon presently has a consensus rating of "Moderate Buy" and an average target price of $216.67.

Icon Stock Performance

Icon stock traded down $5.43 during mid-day trading on Friday, reaching $174.00. The company's stock had a trading volume of 1,804,750 shares, compared to its average volume of 998,801. Icon Plc has a 12-month low of $125.10 and a 12-month high of $305.14. The company has a market capitalization of $14.05 billion, a P/E ratio of 17.90, a PEG ratio of 2.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.29 and a current ratio of 1.29. The firm's fifty day moving average price is $170.27 and its two-hundred day moving average price is $157.27.

Icon (NASDAQ:ICLR - Get Free Report) last announced 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. Icon had a net margin of 9.82% and a return on equity of 10.95%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the firm earned $3.75 EPS. The business's quarterly 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. Sell-side analysts predict that Icon Plc will post 13.38 EPS for the current fiscal year.

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.