LVM Capital Management Ltd. MI Sells 16,096 Shares of Icon Plc $ICLR

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 position in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 28.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,603 shares of the medical research company's stock after selling 16,096 shares during the quarter. LVM Capital Management Ltd. MI owned about 0.05% of Icon worth $5,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SVB Wealth LLC bought a new stake in shares of Icon during the 1st quarter valued at $28,000. NBC Securities Inc. bought a new stake in shares of Icon during the 1st quarter valued at $59,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Icon during the 1st quarter valued at $69,000. Farther Finance Advisors LLC raised its position in shares of Icon by 22.8% during the 1st quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company's stock valued at $99,000 after acquiring an additional 110 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of Icon during the 1st quarter valued at $101,000. 95.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

ICLR has been the subject of several research analyst reports. Barclays boosted their price target on shares of Icon from $155.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Evercore ISI boosted their price target on shares of Icon from $170.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Baird R W upgraded Icon from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Citigroup restated a "neutral" rating and set a $200.00 target price (down from $225.00) on shares of Icon in a report on Thursday, August 21st. Finally, Robert W. Baird lifted their price target on Icon from $222.00 to $224.00 and gave the company an "outperform" rating in a research note on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $216.67.

Icon Stock Up 1.4%

Shares of Icon stock traded up $2.44 on Thursday, reaching $177.65. 242,075 shares of the company were exchanged, compared to its average volume of 1,281,217. The company has a market capitalization of $14.35 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 2.57 and a beta of 1.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.35. Icon Plc has a one year low of $125.10 and a one year high of $310.54. The company has a 50-day moving average of $169.25 and a 200 day moving average of $157.57.

Icon (NASDAQ:ICLR - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the firm posted $3.75 earnings per share. The company'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. On average, equities research analysts forecast that Icon Plc will post 13.38 earnings per share for the current 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.