Icon Plc $ICLR Stake Decreased by LVM Capital Management Ltd. MI

Key Points

• LVM Capital Management Ltd. MI reduced its stake in Icon Plc by 28.4%, owning 40,603 shares valued at approximately $5.9 million after selling 16,096 shares.
• Multiple hedge funds, including Kornitzer Capital Management Inc. and GAMMA Investing LLC, significantly increased their holdings in Icon Plc during the first quarter of the year.
• Analysts have varying ratings for Icon with a consensus rating of "Moderate Buy" and an average price target of $216.67, following recent upgrades by firms such as Mizuho and Truist Financial.

LVM Capital Management Ltd. MI lessened its holdings in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 28.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,603 shares of the medical research company's stock after selling 16,096 shares during the period. LVM Capital Management Ltd. MI owned 0.05% of Icon worth $5,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Kornitzer Capital Management Inc. KS raised its holdings in shares of Icon by 2.6% during the first quarter. Kornitzer Capital Management Inc. KS now owns 99,627 shares of the medical research company's stock valued at $17,434,000 after buying an additional 2,525 shares during the last quarter. GAMMA Investing LLC raised its holdings in Icon by 15,701.6% during the first quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company's stock worth $119,730,000 after purchasing an additional 67,988 shares in the last quarter. Foyston Gordon & Payne Inc raised its holdings in Icon by 7.8% during the first quarter. Foyston Gordon & Payne Inc now owns 55,766 shares of the medical research company's stock worth $9,758,000 after purchasing an additional 4,053 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Icon by 25.3% in the first quarter. Handelsbanken Fonder AB now owns 25,905 shares of the medical research company's stock valued at $4,533,000 after buying an additional 5,229 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in shares of Icon by 573.7% in the first quarter. Arkadios Wealth Advisors now owns 7,828 shares of the medical research company's stock valued at $1,370,000 after buying an additional 6,666 shares in the last quarter. Institutional investors own 95.61% of the company's stock.

Analyst Upgrades and Downgrades

ICLR has been the topic of several research analyst reports. Mizuho lifted their price objective on shares of Icon from $173.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. 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. Robert W. Baird lifted their price objective on shares of Icon from $222.00 to $224.00 and gave the company an "outperform" rating in a research note on Tuesday, September 2nd. Jefferies Financial Group lowered shares of Icon from a "buy" rating to a "hold" rating and cut their target price for the stock from $220.00 to $175.00 in a research report on Tuesday. Finally, Rothschild & Co Redburn raised shares of Icon from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $184.00 to $236.00 in a research report on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Icon currently has a consensus rating of "Moderate Buy" and an average price target of $216.67.

Icon Stock Performance

NASDAQ ICLR opened at $175.00 on Friday. The stock has a market cap of $14.13 billion, a P/E ratio of 18.00, a PEG ratio of 2.59 and a beta of 1.20. The company's 50-day simple moving average is $167.87 and its 200 day simple moving average is $157.96. Icon Plc has a twelve month low of $125.10 and a twelve month high of $310.54. 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 (NASDAQ:ICLR - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share for the quarter, beating analysts' consensus estimates of $3.18 by $0.08. The business had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.98 billion. Icon had a net margin of 9.82% and a return on equity of 10.95%. The firm's revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.75 earnings per share. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. As a group, research analysts forecast that Icon Plc will post 13.38 earnings per share for the current fiscal year.

Icon Company Profile

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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