Financiere des Professionnels Fonds d investissement inc. Acquires 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 position in Icon Plc (NASDAQ:ICLR - Free Report) by 31.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,212 shares of the medical research company's stock after purchasing an additional 11,894 shares during the quarter. Financiere des Professionnels Fonds d investissement inc. owned about 0.06% of Icon worth $7,303,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ICLR. GAMMA Investing LLC lifted its position in Icon by 15,701.6% in the 1st quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company's stock valued at $119,730,000 after purchasing an additional 67,988 shares during the last quarter. NBC Securities Inc. acquired a new position in Icon during the 1st quarter valued at about $59,000. Farther Finance Advisors LLC grew 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 worth $99,000 after purchasing an additional 110 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Icon by 25.3% in the 1st quarter. Handelsbanken Fonder AB now owns 25,905 shares of the medical research company's stock worth $4,533,000 after purchasing an additional 5,229 shares during the last quarter. Finally, Wealthquest Corp acquired a new position in shares of Icon in the 1st quarter worth approximately $862,000. 95.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on ICLR shares. Cowen reiterated a "hold" rating on shares of Icon in a report on Friday, September 12th. Truist Financial raised their price target on shares of Icon from $187.00 to $234.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Barclays raised their price target on shares of Icon from $155.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Evercore ISI raised their price target on shares of Icon from $170.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, UBS Group raised their price target 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 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 Stock Performance

Shares of NASDAQ:ICLR traded down $5.43 on Friday, hitting $174.00. 1,804,750 shares of the company were exchanged, compared to its average volume of 998,801. The company's 50 day moving average price is $170.27 and its two-hundred day moving average price is $157.47. Icon Plc has a one year low of $125.10 and a one year high of $305.14. 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 has a market capitalization of $14.05 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.66 and a beta of 1.20.

Icon (NASDAQ:ICLR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share (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 company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the firm posted $3.75 EPS. The business'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. Research analysts expect that Icon Plc will post 13.38 earnings per share for the current 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.