WCM Investment Management LLC Reduces Holdings in Icon Plc $ICLR

Key Points

• WCM Investment Management LLC has significantly reduced its stake in Icon Plc by 96.9%, selling over 6 million shares, leaving it with just 199,946 shares valued at approximately $28.9 million.
• ICON reported a EPS of $3.26 for the last quarter, exceeding analyst expectations, but its revenue fell 4.8% year-over-year to $2.02 billion.
• Analysts have mixed ratings on Icon, with a consensus of "Moderate Buy" and a price target averaging $210.64, indicating potential for price appreciation.

WCM Investment Management LLC decreased its stake in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 96.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 199,946 shares of the medical research company's stock after selling 6,189,725 shares during the period. WCM Investment Management LLC owned 0.25% of Icon worth $28,904,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mutual Advisors LLC lifted its holdings in Icon by 3.6% during the 2nd quarter. Mutual Advisors LLC now owns 2,698 shares of the medical research company's stock worth $392,000 after purchasing an additional 93 shares in the last quarter. TD Asset Management Inc lifted its holdings in Icon by 2.7% during the 2nd quarter. TD Asset Management Inc now owns 22,511 shares of the medical research company's stock worth $3,274,000 after purchasing an additional 583 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Icon by 18.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,060,499 shares of the medical research company's stock worth $157,887,000 after purchasing an additional 162,853 shares in the last quarter. LRI Investments LLC purchased a new stake in Icon during the 2nd quarter worth about $49,000. Finally, Inspire Investing LLC lifted its holdings in Icon by 42.2% during the 2nd quarter. Inspire Investing LLC now owns 14,691 shares of the medical research company's stock worth $2,137,000 after purchasing an additional 4,362 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company's stock.

Icon Price Performance

Shares of Icon stock opened at $187.85 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $15.17 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.76 and a beta of 1.23. The business's 50-day moving average price is $176.04 and its 200-day moving average price is $157.17. Icon Plc has a 12 month low of $125.10 and a 12 month high of $301.45.

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

Analyst Ratings Changes

ICLR has been the topic of a number of recent research reports. Cowen reissued a "hold" rating on shares of Icon in a report on Friday, September 12th. UBS Group increased their price objective on Icon from $170.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Weiss Ratings restated a "hold (c)" rating on shares of Icon in a research note on Wednesday, October 8th. Mizuho upped their target price on Icon from $173.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Rothschild Redb upgraded Icon from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Icon presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.64.

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.

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