Icon (NASDAQ:ICLR) Director Sells 2,677 Shares of Stock

Key Points

• Director Ciaran Murray sold 2,677 Icon shares at an average price of $164.29, generating $439,804.33. The filing said the sale was to cover tax-withholding obligations from vested equity awards, leaving him with 20,452 shares.
• Icon’s latest quarterly results slightly beat expectations, with EPS of $2.56 versus $2.55 expected and revenue of $2.06 billion versus $2.00 billion estimated; revenue increased 2.3% year over year, although EPS declined from $3.26 a year earlier.
• Shares traded near $167, while analysts’ average price target was $170.40 and the consensus rating was “Hold.” The stock’s valuation remains elevated, with a price-to-earnings ratio near 39 and a PEG ratio of 6.88.

Icon Plc (NASDAQ:ICLR - Get Free Report) Director Ciaran Murray sold 2,677 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $164.29, for a total transaction of $439,804.33. Following the transaction, the director owned 20,452 shares of the company's stock, valued at approximately $3,360,059.08. The trade was a 11.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Icon Stock Performance

Icon stock traded up $1.59 during mid-day trading on Wednesday, reaching $167.17. The company had a trading volume of 804,300 shares, compared to its average volume of 1,385,101. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.23. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 6.88 and a beta of 1.21. The company has a 50 day moving average of $161.47 and a 200-day moving average of $134.31. Icon Plc has a 52 week low of $66.57 and a 52 week high of $203.91.

Icon (NASDAQ:ICLR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical research company reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.01. Icon had a net margin of 3.99% and a return on equity of 8.02%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the business earned $3.26 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Icon Plc will post 9.57 EPS for the current fiscal year.

Trending Headlines about Icon

Here are the key news stories impacting Icon this week:

• Positive Sentiment: Icon’s latest quarterly results modestly exceeded expectations: adjusted EPS was $2.56 versus the $2.55 consensus, while revenue reached $2.06 billion, above the $2.00 billion estimate and up 2.3% year over year. Analysts expect approximately $9.57 in full-year EPS, providing a fundamental support for the stock.
• Positive Sentiment: Recent analyst actions have generally been constructive. BMO Capital Markets raised its price target to $187 and Mizuho increased its target to $190, both maintaining outperform ratings. The consensus target is $170.40, modestly above the latest trading level, although the overall consensus rating remains “Hold.”
• Positive Sentiment: Short interest is reported at zero shares, indicating no measurable bearish short-selling pressure or potential forced-selling overhang.
• Neutral Sentiment: CEO Barry Balfe sold 382 shares worth about $62,675, while CFO Nigel Clerkin sold 2,267 shares worth approximately $372,445. Directors John Climax and Linda Grais each sold 841 shares at about $164.29. The filings state that all transactions were made to cover tax-withholding obligations tied to vested equity awards, reducing their usefulness as a signal of declining confidence. SEC insider transaction filing
• Negative Sentiment: Despite the revenue beat, quarterly EPS fell from $3.26 a year earlier, and Icon’s reported net margin was only 3.99%. The stock also carries a high valuation, with a price-to-earnings ratio near 39 and a PEG ratio of 6.88, leaving it sensitive to any slowdown in clinical-research demand or earnings growth.

Hedge Funds Weigh In On Icon

Several hedge funds and other institutional investors have recently modified their holdings of ICLR. EFG International AG bought a new stake in Icon in the fourth quarter valued at $27,000. Abound Financial LLC bought a new position in shares of Icon during the fourth quarter valued at $54,000. GAMMA Investing LLC boosted its stake in shares of Icon by 21.4% in the 2nd quarter. GAMMA Investing LLC now owns 391 shares of the medical research company's stock valued at $68,000 after purchasing an additional 69 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Icon in the 3rd quarter valued at $71,000. Finally, Blue Trust Inc. grew its holdings in shares of Icon by 207.5% in the 1st quarter. Blue Trust Inc. now owns 658 shares of the medical research company's stock worth $73,000 after purchasing an additional 444 shares during the last quarter. Institutional investors own 95.61% of the company's stock.

Wall Street Analysts Forecast Growth

ICLR has been the topic of several recent research reports. Robert W. Baird set a $194.00 price objective on Icon in a report on Friday, July 31st. BMO Capital Markets upped their target price on Icon from $160.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday, June 25th. DA Davidson set a $164.00 target price on Icon in a research report on Monday, June 1st. TD Cowen lifted their price target on shares of Icon from $164.00 to $197.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. Finally, Bank of America boosted their price target on shares of Icon from $125.00 to $150.00 and gave the company an "underperform" rating in a report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $170.40.

Icon Company Profile

Icon plc NASDAQ: ICLR is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon's service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source