Icon (NASDAQ:ICLR) Stock: Insider Nigel Bernard John Clerkin Sells 1,488 Shares

Key Points

• ICON CFO Bernard Clerkin sold 1,488 shares at an average price of $206.66, totaling about $307,510; the sale covered tax withholding on vested equity awards. He retained 7,171 shares.
• ICON’s latest quarterly results topped analyst expectations, with EPS of $2.66 versus a $2.62 consensus and revenue of $2.02 billion versus $2.01 billion expected, although revenue fell 0.9% year over year.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $213.76; shares traded at $203.77 in the report.

Icon Plc (NASDAQ:ICLR - Get Free Report) CFO Bernard Clerkin sold 1,488 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $206.66, for a total transaction of $307,510.08. Following the completion of the sale, the chief financial officer owned 7,171 shares of the company's stock, valued at $1,481,958.86. The trade was a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nigel Bernard John Clerkin also recently made the following trade(s):

• On Tuesday, August 11th, Bernard Clerkin sold 2,267 shares of Icon stock. The stock was sold at an average price of $164.29, for a total transaction of $372,445.43.

Icon Price Performance

NASDAQ ICLR traded down $1.37 on Tuesday, hitting $203.77. The stock had a trading volume of 1,096,464 shares, compared to its average volume of 1,264,512. The firm has a 50-day moving average of $172.62 and a 200-day moving average of $146.63. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 1.32. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 13.65 and a beta of 1.24. Icon Plc has a 52-week low of $66.57 and a 52-week high of $219.04.

Icon (NASDAQ:ICLR - Get Free Report) last posted its earnings results on Tuesday, October 27th. The medical research company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.04. Icon had a return on equity of 7.73% and a net margin of 5.45%. The company had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same period last year, the firm earned $3.31 earnings per share. Icon's quarterly revenue was down .9% on a year-over-year basis. Equities analysts expect that Icon Plc will post 9.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Icon in the third quarter worth about $38,000. GAMMA Investing LLC lifted its stake in Icon by 21.4% during the 2nd quarter. GAMMA Investing LLC now owns 391 shares of the medical research company's stock valued at $68,000 after acquiring an additional 69 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Icon by 120.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 616 shares of the medical research company's stock valued at $107,000 after purchasing an additional 336 shares during the period. Grove Bank & Trust raised its stake in Icon by 30.0% in the 2nd quarter. Grove Bank & Trust now owns 866 shares of the medical research company's stock valued at $150,000 after acquiring an additional 200 shares during the period. Finally, Fifth Third Bancorp grew its stake in Icon by 1,062.0% during the first quarter. Fifth Third Bancorp now owns 918 shares of the medical research company's stock valued at $102,000 after acquiring an additional 839 shares in the last quarter. Institutional investors own 95.61% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ICLR shares. Royal Bank Of Canada increased their price objective on shares of Icon from $185.00 to $226.00 and gave the company an "outperform" rating in a report on Thursday, October 29th. Robert W. Baird lifted their target price on shares of Icon from $210.00 to $249.00 and gave the company an "outperform" rating in a report on Thursday, October 29th. Citigroup boosted their target price on shares of Icon from $175.00 to $215.00 and gave the stock a "neutral" rating in a research report on Thursday, October 29th. Zacks Research upgraded Icon from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Finally, Truist Financial raised their price objective on Icon from $209.00 to $268.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $213.76.

Icon Company Profile

ICON plc is a global contract research organization that provides outsourced development services to pharmaceutical, biotechnology and medical device companies. The company supports clinical research programs from early development through late-stage trials, regulatory submission and post-marketing activities.

Its services include clinical trial management, medical and regulatory consulting, biostatistics, data management, pharmacovigilance, laboratory services and real-world evidence solutions.

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