Motley Fool Wealth Management LLC Sells 5,309 Shares of Icon Plc (NASDAQ:ICLR)

Key Points

• Motley Fool Wealth Management LLC reduced its holdings in Icon Plc by 8.3%, selling 5,309 shares and now owning 58,729 shares valued at approximately $10.3 million.
• Institutional ownership of Icon Plc is significant, with investors owning 95.61% of the company's stock, indicating a strong interest from large financial entities.
• Several analysts have raised target prices for Icon, with UBS Group updating their target from $170 to $240, contributing to a consensus rating of "Moderate Buy" among research analysts.

Motley Fool Wealth Management LLC decreased its holdings in Icon Plc (NASDAQ:ICLR - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,729 shares of the medical research company's stock after selling 5,309 shares during the quarter. Motley Fool Wealth Management LLC owned 0.07% of Icon worth $10,277,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Entropy Technologies LP lifted its position in Icon by 11.3% in the 1st quarter. Entropy Technologies LP now owns 6,874 shares of the medical research company's stock valued at $1,203,000 after acquiring an additional 700 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new position in Icon in the 1st quarter valued at about $69,000. Wealthquest Corp bought a new position in Icon in the 1st quarter valued at about $862,000. Arkadios Wealth Advisors lifted its position in Icon by 573.7% in the 1st quarter. Arkadios Wealth Advisors now owns 7,828 shares of the medical research company's stock valued at $1,370,000 after acquiring an additional 6,666 shares in the last quarter. Finally, Tributary Capital Management LLC lifted its position in shares of Icon by 33.6% during the 1st quarter. Tributary Capital Management LLC now owns 5,279 shares of the medical research company's stock worth $924,000 after buying an additional 1,329 shares in the last quarter. Institutional investors own 95.61% of the company's stock.

Icon Trading Up 0.4%

Shares of ICLR stock opened at $158.44 on Monday. The company has a 50 day moving average of $152.54 and a 200-day moving average of $160.96. 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 Plc has a 12-month low of $125.10 and a 12-month high of $328.35. The firm has a market cap of $12.80 billion, a P/E ratio of 16.30, a PEG ratio of 2.14 and a beta of 1.17.

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 (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.08. Icon had a return on equity of 10.95% and a net margin of 9.82%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the business posted $3.75 earnings per share. The business's quarterly revenue was down 4.8% on a year-over-year basis. Sell-side analysts anticipate that Icon Plc will post 13.38 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on ICLR shares. UBS Group lifted their target price on shares of Icon from $170.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Robert W. Baird raised shares of Icon from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $150.00 to $224.00 in a research report on Thursday, July 24th. JPMorgan Chase & Co. cut shares of Icon from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $265.00 to $150.00 in a research report on Tuesday, April 29th. Barclays lifted their target price on shares of Icon from $155.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Finally, Truist Financial lifted their target price on shares of Icon from $187.00 to $234.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $219.54.

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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