Lazard Asset Management LLC Cuts Stock Position in Icon Plc $ICLR

Key Points

• Lazard Asset Management cut its Icon stake by 93.8% in the first quarter, selling 349,375 shares and retaining 23,072 shares valued at approximately $2.55 million. Institutional investors collectively own 95.61% of Icon.
• Icon reported quarterly revenue of $2.06 billion, above the $2 billion consensus estimate, and EPS of $2.56 versus expectations of $2.55. However, EPS declined from $3.26 a year earlier, reflecting margin pressure despite 2.3% revenue growth.
• Analyst sentiment remains mixed: seven analysts rate the stock Buy, seven Hold and two Sell, resulting in a consensus Hold rating and average price target of $170.40, compared with the reported share price of $163.57.

Lazard Asset Management LLC decreased its stake in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 93.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,072 shares of the medical research company's stock after selling 349,375 shares during the quarter. Lazard Asset Management LLC's holdings in Icon were worth $2,553,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ICLR. Toth Financial Advisory Corp purchased a new stake in shares of Icon during the fourth quarter valued at $27,000. EFG International AG purchased a new position in Icon in the 4th quarter worth $27,000. Abound Financial LLC purchased a new position in Icon in the 4th quarter worth $54,000. Johnson Financial Group Inc. acquired a new stake in Icon during the 3rd quarter worth about $71,000. Finally, Blue Trust Inc. grew its stake in Icon by 207.5% during the 1st quarter. Blue Trust Inc. now owns 658 shares of the medical research company's stock valued at $73,000 after purchasing an additional 444 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company's stock.

Icon Price Performance

Shares of NASDAQ ICLR opened at $163.57 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 8.03 and a beta of 1.21. The firm's 50 day simple moving average is $156.70 and its 200-day simple moving average is $135.31. Icon Plc has a 12 month low of $66.57 and a 12 month high of $203.91.

Icon (NASDAQ:ICLR - Get Free Report) last posted its earnings results on Wednesday, July 29th. The medical research company reported $2.56 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $2 billion. During the same period in the previous year, the business posted $3.26 EPS. The business's revenue was up 2.3% compared to the same quarter last year. Analysts expect that Icon Plc will post 9.43 EPS for the current year.

Analysts Set New Price Targets

ICLR has been the topic of a number of research reports. UBS Group set a $160.00 price objective on Icon in a report on Wednesday, June 24th. Mizuho upped their target price on Icon from $180.00 to $190.00 and gave the company an "outperform" rating in a research report on Friday, June 26th. Citigroup upped their target price on Icon from $165.00 to $180.00 and gave the company a "neutral" rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on shares of Icon from $130.00 to $155.00 and gave the stock a "neutral" rating in a research report on Thursday, June 25th. Finally, Jefferies Financial Group restated a "buy" rating and set a $165.00 price objective on shares of Icon in a research note on Friday, May 29th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Icon has an average rating of "Hold" and a consensus price target of $170.40.

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

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source