Envestnet Asset Management Inc. Sells 211,892 Shares of Icon Plc $ICLR

Envestnet Asset Management Inc. decreased its holdings in shares of Icon Plc (NASDAQ:ICLR) by 57.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,152 shares of the medical research company’s stock after selling 211,892 shares during the period. Envestnet Asset Management Inc. owned about 0.20% of Icon worth $23,294,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Brighton Jones LLC acquired a new stake in shares of Icon during the second quarter worth approximately $769,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Icon by 40,800.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the medical research company’s stock worth $59,000 after buying an additional 408 shares in the last quarter. Tributary Capital Management LLC boosted its stake in Icon by 20.7% in the second quarter. Tributary Capital Management LLC now owns 6,371 shares of the medical research company’s stock worth $927,000 after purchasing an additional 1,092 shares in the last quarter. Freedom Investment Management Inc. boosted its stake in Icon by 27.2% in the second quarter. Freedom Investment Management Inc. now owns 5,065 shares of the medical research company’s stock worth $737,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Exencial Wealth Advisors LLC boosted its stake in Icon by 1.9% in the second quarter. Exencial Wealth Advisors LLC now owns 14,656 shares of the medical research company’s stock worth $2,132,000 after purchasing an additional 276 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Icon Stock Performance

Shares of Icon stock opened at $162.96 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $13.16 billion, a P/E ratio of 22.05, a P/E/G ratio of 3.04 and a beta of 1.23. The firm has a 50 day simple moving average of $177.93 and a 200 day simple moving average of $159.97. Icon Plc has a fifty-two week low of $125.10 and a fifty-two week high of $231.89.

Icon (NASDAQ:ICLR) last released its earnings results on Wednesday, October 22nd. The medical research company reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.03. Icon had a net margin of 7.40% and a return on equity of 10.58%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the business earned $3.35 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that Icon Plc will post 13.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ICLR has been the topic of a number of recent analyst reports. Robert W. Baird set a $220.00 price objective on Icon in a research note on Friday, October 24th. Leerink Partners set a $220.00 price objective on Icon in a research note on Thursday, October 23rd. TD Cowen reduced their price objective on Icon from $183.00 to $172.00 and set a “hold” rating on the stock in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Icon in a report on Wednesday, October 8th. Finally, Mizuho raised their price target on shares of Icon from $173.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $207.14.

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.