Icon Plc $ICLR Shares Sold by Avidity Partners Management LP

Key Points

• Avidity Partners Management LP cut its Icon stake by 51.7% in the first quarter, selling 17,100 shares and retaining 16,000 shares valued at approximately $1.77 million. Institutional investors collectively own 95.61% of Icon.
• Icon reported quarterly revenue of $2.06 billion, exceeding the $2.00 billion consensus estimate, while adjusted EPS of $2.56 narrowly beat expectations. However, EPS declined from $3.26 a year earlier amid margin pressures.
• Analyst sentiment remains mixed: Truist raised its price target to $209 and maintained a Buy rating, while the broader analyst consensus is Hold with an average target price of $170.40.

Avidity Partners Management LP lowered its stake in Icon Plc (NASDAQ:ICLR - Free Report) by 51.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,000 shares of the medical research company's stock after selling 17,100 shares during the period. Icon makes up about 0.4% of Avidity Partners Management LP's investment portfolio, making the stock its 28th largest holding. Avidity Partners Management LP's holdings in Icon were worth $1,771,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Harris Associates L P acquired a new stake in Icon during the 2nd quarter worth about $238,256,000. Capital World Investors boosted its holdings in shares of Icon by 555.2% in the fourth quarter. Capital World Investors now owns 1,496,479 shares of the medical research company's stock worth $272,688,000 after buying an additional 1,268,095 shares during the period. Wellington Management Group LLP increased its position in shares of Icon by 26.6% in the third quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company's stock worth $811,499,000 after acquiring an additional 975,268 shares in the last quarter. Lyrical Asset Management LP purchased a new position in shares of Icon in the fourth quarter worth approximately $176,382,000. Finally, Norges Bank acquired a new stake in shares of Icon during the fourth quarter valued at approximately $160,073,000. Institutional investors and hedge funds own 95.61% of the company's stock.

Icon Price Performance

Shares of NASDAQ:ICLR opened at $163.57 on Friday. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 8.12 and a beta of 1.22. The business has a 50 day moving average price of $156.70 and a 200 day moving average price of $135.62. The company has a quick ratio of 1.14, a current ratio of 0.95 and a debt-to-equity ratio of 0.23. Icon Plc has a twelve month low of $66.57 and a twelve month high of $203.91.

Icon (NASDAQ:ICLR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The medical research company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.55 by $0.01. Icon had a return on equity of 8.02% and a net margin of 3.99%.The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the business posted $3.26 EPS. The company's revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts predict that Icon Plc will post 9.43 earnings per share for the current year.

Icon News Roundup

Here are the key news stories impacting Icon this week:

• Positive Sentiment: Truist reaffirmed its “Buy” rating and raised its price target to $209 from $207, implying substantial upside based on the referenced share price. The target increase signals continued confidence in Icon’s long-term growth prospects. Benzinga analyst rating report
• Positive Sentiment: Icon reported second-quarter revenue of approximately $2.06 billion, above the roughly $2.00 billion consensus estimate, with revenue growing 2.3% from the prior-year period. The earnings call also emphasized a strong surge in bookings, supporting future revenue visibility. Q2 2026 earnings call highlights
• Positive Sentiment: Zacks upgraded ICLR from “Strong Sell” to “Hold,” suggesting its view has improved even though the firm remains cautious. Zacks rating update
• Neutral Sentiment: Quarterly adjusted EPS was $2.56, narrowly above some consensus estimates of $2.55, although another Zacks estimate was $2.57. The mixed comparison makes the earnings beat less decisive for investors. Icon Q2 earnings snapshot
• Negative Sentiment: EPS fell sharply from $3.26 a year earlier, while the earnings call highlighted margin pressures. The weaker profitability, despite higher revenue and bookings, is likely the main factor tempering the bullish analyst commentary. ICON Q2 2026 earnings call transcript

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Bank of America upped their price target on shares of Icon from $125.00 to $150.00 and gave the company an "underperform" rating in a research report on Thursday, June 25th. Truist Financial reissued a "buy" rating and set a $209.00 target price (up from $207.00) on shares of Icon in a research note on Friday. Robert W. Baird set a $194.00 target price on Icon in a report on Friday. Royal Bank Of Canada raised Icon from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $126.00 to $185.00 in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. lifted their price target on Icon from $130.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, June 25th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $170.40.

Icon Profile

Icon plc NASDAQ: ICLR is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon's service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.

Want to see what other hedge funds are holding ICLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Icon Plc (NASDAQ:ICLR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.