Janus Henderson Group PLC Sells 166,218 Shares of Icon Plc $ICLR

Key Points

• Janus Henderson Group reduced its Icon position by 66.9%, selling 166,218 shares and retaining 82,061 shares valued at approximately $9.1 million. Institutional investors collectively own 95.61% of Icon’s stock.
• Icon reported quarterly earnings of $2.56 per share, slightly exceeding estimates, while revenue reached $2.06 billion, up 2.3% year over year. Analysts expect full-year earnings of approximately $9.50 per share.
• ICLR opened at $163.51, below its 52-week high of $203.91. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $170.40, though several firms recently raised their targets or ratings.

Janus Henderson Group PLC lowered its position in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 66.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,061 shares of the medical research company's stock after selling 166,218 shares during the period. Janus Henderson Group PLC owned 0.10% of Icon worth $9,081,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ICLR. EFG International AG purchased a new stake in shares of Icon in the fourth quarter worth $27,000. Abound Financial LLC bought a new stake in shares of Icon during the 4th quarter valued at about $54,000. Johnson Financial Group Inc. bought a new stake in shares of Icon during the 3rd quarter valued at about $71,000. Quadrant Capital Group LLC purchased a new position in shares of Icon during the third quarter worth about $78,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of Icon by 198.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 487 shares of the medical research company's stock worth $89,000 after purchasing an additional 324 shares in the last quarter. Institutional investors own 95.61% of the company's stock.

Icon Price Performance

ICLR stock opened at $163.51 on Thursday. The firm has a market cap of $12.52 billion, a P/E ratio of 38.38, a P/E/G ratio of 6.55 and a beta of 1.21. The firm's fifty day moving average is $159.29 and its 200 day moving average is $134.80. Icon Plc has a 52 week low of $66.57 and a 52 week high of $203.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95.

Icon (NASDAQ:ICLR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The medical research company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.01. Icon had a net margin of 3.99% and a return on equity of 8.02%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the firm posted $3.26 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts predict that Icon Plc will post 9.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ICLR shares. Mizuho raised their target price on shares of Icon from $180.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, June 26th. Barclays boosted their price target on shares of Icon from $160.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 25th. UBS Group set a $160.00 price target on shares of Icon in a report on Wednesday, June 24th. Leerink Partners set a $145.00 price objective on shares of Icon in a research report on Thursday, May 28th. Finally, Royal Bank Of Canada raised shares of Icon from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $126.00 to $185.00 in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Icon currently has a consensus rating of "Hold" and an average price target of $170.40.

About Icon

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.

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