Wealthquest Corp Buys New Position in Icon Plc (NASDAQ:ICLR)

Wealthquest Corp bought a new position in shares of Icon Plc (NASDAQ:ICLR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,928 shares of the medical research company's stock, valued at approximately $862,000.

A number of other institutional investors have also made changes to their positions in the company. Handelsbanken Fonder AB lifted its position in shares of Icon by 25.3% during the first quarter. Handelsbanken Fonder AB now owns 25,905 shares of the medical research company's stock worth $4,533,000 after purchasing an additional 5,229 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Icon by 22.8% during the first quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company's stock worth $99,000 after purchasing an additional 110 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Icon during the first quarter worth $59,000. GAMMA Investing LLC lifted its position in shares of Icon by 15,701.6% during the first quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company's stock worth $119,730,000 after purchasing an additional 67,988 shares in the last quarter. Finally, Foyston Gordon & Payne Inc raised its holdings in Icon by 27.3% in the fourth quarter. Foyston Gordon & Payne Inc now owns 51,713 shares of the medical research company's stock valued at $10,845,000 after acquiring an additional 11,089 shares in the last quarter. 95.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial cut their price target on shares of Icon from $262.00 to $208.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Citigroup cut their price target on shares of Icon from $290.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. cut shares of Icon from an "overweight" rating to a "neutral" rating and cut their price target for the company from $265.00 to $150.00 in a report on Tuesday, April 29th. The Goldman Sachs Group cut their price target on shares of Icon from $180.00 to $160.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, TD Cowen lowered shares of Icon from a "buy" rating to a "hold" rating and lowered their target price for the company from $254.00 to $157.00 in a research note on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.08.

Icon Stock Performance

Shares of Icon stock traded down $2.19 during trading on Friday, hitting $144.56. 1,212,929 shares of the stock were exchanged, compared to its average volume of 1,113,488. The stock's fifty day moving average is $139.13 and its 200 day moving average is $171.99. The stock has a market cap of $11.67 billion, a PE ratio of 15.75, a P/E/G ratio of 1.80 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.27 and a current ratio of 1.27. Icon Plc has a 12 month low of $125.10 and a 12 month high of $347.72.

Icon (NASDAQ:ICLR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The medical research company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.17 by $0.02. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. Icon had a net margin of 9.25% and a return on equity of 11.46%. The company's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.47 earnings per share. As a group, sell-side analysts anticipate that Icon Plc will post 13.38 EPS for the current year.

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.