Icon Plc $ICLR Shares Sold by Swedbank AB

Key Points

• Swedbank AB reduced its stake in Icon Plc by 58.1%, selling 58,000 shares during the second quarter, which left it with 41,800 shares valued at approximately $6.08 million.
• Icon Plc reported earnings of $3.26 EPS for the last quarter, surpassing analyst estimates of $3.18, although its revenue declined by 4.8% year-over-year.
• Wall Street analysts have varied ratings on Icon, with two firms rating it a Strong Buy and others issuing target prices ranging from $200 to $240.

Swedbank AB lowered its stake in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 58.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,800 shares of the medical research company's stock after selling 58,000 shares during the period. Swedbank AB owned 0.05% of Icon worth $6,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ICLR. SVB Wealth LLC purchased a new stake in shares of Icon during the first quarter valued at $28,000. NBC Securities Inc. purchased a new stake in shares of Icon during the first quarter valued at $59,000. Bruce G. Allen Investments LLC raised its holdings in shares of Icon by 1,772.7% in the second quarter. Bruce G. Allen Investments LLC now owns 412 shares of the medical research company's stock valued at $60,000 after acquiring an additional 390 shares in the last quarter. Greykasell Wealth Strategies Inc. purchased a new stake in Icon in the first quarter worth about $69,000. Finally, Farther Finance Advisors LLC grew its holdings in Icon by 22.8% during the 1st quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company's stock worth $99,000 after acquiring an additional 110 shares in the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

Icon Price Performance

ICLR stock traded down $3.20 during midday trading on Monday, reaching $170.80. The stock had a trading volume of 767,566 shares, compared to its average volume of 1,030,718. Icon Plc has a 52-week low of $125.10 and a 52-week high of $305.14. The company has a market cap of $13.79 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 2.58 and a beta of 1.20. The company's fifty day simple moving average is $170.69 and its 200 day simple moving average is $156.96. 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 (NASDAQ:ICLR - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.18 by $0.08. Icon had a return on equity of 10.95% and a net margin of 9.82%.The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the company earned $3.75 EPS. The company's revenue for the quarter was down 4.8% on a year-over-year basis. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. As a group, sell-side analysts predict that Icon Plc will post 13.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on ICLR. Baird R W raised shares of Icon from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Rothschild Redb raised shares of Icon from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Truist Financial raised their target price 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. Barclays boosted their target price on shares of Icon from $155.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Finally, Cowen reiterated a "hold" rating on shares of Icon in a report on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Icon presently has a consensus rating of "Moderate Buy" and an average target price of $216.67.

About Icon

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.