Whittier Trust Co. Has $257,000 Stock Position in Icon Plc $ICLR

Key Points

• Whittier Trust Co. significantly reduced its stake in Icon Plc by 65.8% in Q2, ending with 1,769 shares valued at $257,000.
• Icon's stock has decreased by 6.5%, currently trading at $180.00, with a one-year low of $125.10 and a high of $242.72.
• In its latest earnings report, Icon reported $3.31 EPS, exceeding analysts' estimates and showing a slight revenue increase year-over-year.

Whittier Trust Co. lowered its holdings in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 65.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,769 shares of the medical research company's stock after selling 3,403 shares during the period. Whittier Trust Co.'s holdings in Icon were worth $257,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ninety One UK Ltd increased its holdings in Icon by 2.6% in the 2nd quarter. Ninety One UK Ltd now owns 2,993,652 shares of the medical research company's stock worth $435,427,000 after purchasing an additional 75,465 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Icon by 18.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,060,499 shares of the medical research company's stock valued at $157,887,000 after buying an additional 162,853 shares during the last quarter. Ninety One North America Inc. grew its position in shares of Icon by 20.5% in the 2nd quarter. Ninety One North America Inc. now owns 428,851 shares of the medical research company's stock valued at $62,376,000 after buying an additional 72,945 shares during the last quarter. Coho Partners Ltd. bought a new stake in shares of Icon in the 2nd quarter valued at about $33,649,000. Finally, Canoe Financial LP grew its position in shares of Icon by 10.3% in the 2nd quarter. Canoe Financial LP now owns 193,851 shares of the medical research company's stock valued at $28,196,000 after buying an additional 18,174 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company's stock.

Icon Stock Down 6.5%

Shares of Icon stock opened at $180.00 on Friday. Icon Plc has a one year low of $125.10 and a one year high of $242.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.29 and a quick ratio of 1.29. The stock's 50-day moving average is $178.66 and its 200 day moving average is $158.20. The firm has a market cap of $14.54 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.95 and a beta of 1.23.

Icon (NASDAQ:ICLR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $3.31 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.03. Icon had a return on equity of 10.53% and a net margin of 7.40%.The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the business earned $3.35 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts anticipate that Icon Plc will post 13.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on ICLR shares. Barclays upped their price target on Icon from $180.00 to $190.00 and gave the company an "equal weight" rating in a research report on Thursday, October 2nd. Citigroup reiterated a "neutral" rating and issued a $200.00 price target (down previously from $225.00) on shares of Icon in a research report on Thursday, August 21st. Baird R W upgraded Icon from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Jefferies Financial Group lowered Icon from a "buy" rating to a "hold" rating and cut their target price for the company from $220.00 to $175.00 in a research report on Tuesday, September 9th. Finally, UBS Group upped their target price on Icon from $170.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $208.14.

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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