Icon Plc $ICLR Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of Icon Plc (NASDAQ:ICLR) by 112.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,456 shares of the medical research company’s stock after purchasing an additional 19,789 shares during the period. Truist Financial Corp’s holdings in Icon were worth $5,448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ICLR. Canoe Financial LP boosted its holdings in shares of Icon by 10.3% during the 2nd quarter. Canoe Financial LP now owns 193,851 shares of the medical research company’s stock worth $28,196,000 after purchasing an additional 18,174 shares during the last quarter. Greenhaven Associates Inc. acquired a new position in Icon in the second quarter valued at approximately $2,565,000. Financiere des Professionnels Fonds d investissement inc. lifted its holdings in Icon by 31.0% in the second quarter. Financiere des Professionnels Fonds d investissement inc. now owns 50,212 shares of the medical research company’s stock valued at $7,303,000 after acquiring an additional 11,894 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in Icon by 573.7% in the first quarter. Arkadios Wealth Advisors now owns 7,828 shares of the medical research company’s stock valued at $1,370,000 after acquiring an additional 6,666 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Icon by 29.7% in the second quarter. Janney Montgomery Scott LLC now owns 26,145 shares of the medical research company’s stock valued at $3,803,000 after acquiring an additional 5,982 shares during the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Icon Stock Down 2.0%

Icon stock opened at $186.65 on Wednesday. Icon Plc has a twelve month low of $125.10 and a twelve month high of $303.69. The stock’s fifty day simple moving average is $173.75 and its 200-day simple moving average is $156.76. 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 $15.07 billion, a P/E ratio of 19.20, a P/E/G ratio of 2.82 and a beta of 1.23.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.08. Icon had a return on equity of 10.95% and a net margin of 9.82%.The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the company earned $3.75 earnings per share. The company’s revenue was down 4.8% on a year-over-year basis. Icon has set its FY 2025 guidance at 13.000-14.000 EPS. As a group, equities analysts expect that Icon Plc will post 13.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ICLR has been the topic of a number of recent analyst reports. Cowen reiterated a “hold” rating on shares of Icon in a report on Friday, September 12th. Jefferies Financial Group cut Icon from a “buy” rating to a “hold” rating and decreased their price objective for the company from $220.00 to $175.00 in a report on Tuesday, September 9th. Citigroup reiterated a “neutral” rating and issued a $200.00 price objective (down from $225.00) on shares of Icon in a report on Thursday, August 21st. Evercore ISI upped their price objective on Icon from $170.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, Rothschild Redb upgraded Icon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $217.33.

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.