L. Roy Papp & Associates LLP Reduces Holdings in Icon Plc $ICLR

Key Points

• L. Roy Papp & Associates LLP reduced its shareholding in Icon Plc by 41.9%, owning 4,638 shares after selling 3,338 shares, with holdings valued at $675,000 at the end of the last quarter.
• Several brokerages, including UBS Group and Truist Financial, have raised their price targets on Icon shares, reflecting a positive outlook for the company with an average price target of $217.33.
• Icon Plc reported a net revenue of $2.02 billion for the last quarter, exceeding expectations, and has projected FY 2025 EPS guidance between 13.000-14.000.

L. Roy Papp & Associates LLP decreased its holdings in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 41.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,638 shares of the medical research company's stock after selling 3,338 shares during the period. L. Roy Papp & Associates LLP's holdings in Icon were worth $675,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. SVB Wealth LLC acquired a new stake in shares of Icon during the first quarter worth about $28,000. Ameritas Advisory Services LLC acquired a new stake in shares of Icon during the second quarter worth about $48,000. NBC Securities Inc. acquired a new stake in shares of Icon during the first quarter worth about $59,000. Bruce G. Allen Investments LLC boosted its stake in shares of Icon by 1,772.7% during the second quarter. Bruce G. Allen Investments LLC now owns 412 shares of the medical research company's stock worth $60,000 after buying an additional 390 shares during the period. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Icon during the first quarter worth about $69,000. Institutional investors and hedge funds own 95.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ICLR. UBS Group increased their target price on shares of Icon from $170.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Truist Financial raised their price objective on shares of Icon from $187.00 to $234.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Citigroup restated a "neutral" rating and issued a $200.00 price objective (down previously from $225.00) on shares of Icon in a research report on Thursday, August 21st. Rothschild & Co Redburn upgraded shares of Icon from a "neutral" rating to a "buy" rating and raised their price objective for the company from $184.00 to $236.00 in a research report on Wednesday, September 3rd. Finally, Baird R W upgraded shares of Icon from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $217.33.

Icon Trading Up 0.7%

Shares of ICLR opened at $187.71 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50 day simple moving average of $174.22 and a 200-day simple moving average of $156.99. Icon Plc has a 1-year low of $125.10 and a 1-year high of $303.69. The stock has a market cap of $15.16 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23.

Icon (NASDAQ:ICLR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share for the quarter, topping analysts' consensus estimates of $3.18 by $0.08. Icon had a net margin of 9.82% and a return on equity of 10.95%. The business had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same period last year, the company posted $3.75 EPS. The company's revenue was down 4.8% on a year-over-year basis. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. Equities analysts forecast that Icon Plc will post 13.38 EPS for the current fiscal year.

Icon 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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