Vise Technologies Inc. Buys New Shares in Icon Plc $ICLR

Vise Technologies Inc. bought a new stake in Icon Plc (NASDAQ:ICLR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,632 shares of the medical research company’s stock, valued at approximately $662,000.

Other institutional investors have also recently bought and sold shares of the company. Harris Associates L P bought a new stake in Icon in the second quarter valued at approximately $238,256,000. Wellington Management Group LLP raised its stake in Icon by 26.6% in the third quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock valued at $811,499,000 after buying an additional 975,268 shares during the period. Norges Bank bought a new stake in Icon in the fourth quarter valued at approximately $160,073,000. Franklin Resources Inc. raised its stake in Icon by 35.4% in the third quarter. Franklin Resources Inc. now owns 2,753,528 shares of the medical research company’s stock valued at $481,692,000 after buying an additional 719,301 shares during the period. Finally, Boston Partners raised its stake in Icon by 1,207.3% in the third quarter. Boston Partners now owns 739,135 shares of the medical research company’s stock valued at $129,372,000 after buying an additional 682,597 shares during the period. Institutional investors and hedge funds own 95.61% of the company’s stock.

Icon Price Performance

Icon stock opened at $144.59 on Thursday. Icon Plc has a 12 month low of $66.57 and a 12 month high of $211.00. The stock’s 50 day moving average is $120.28 and its 200-day moving average is $140.53. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 11.99 and a beta of 1.26.

Icon (NASDAQ:ICLR) last posted its earnings results on Wednesday, June 10th. The medical research company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.47 by $0.05. Icon had a return on equity of 9.50% and a net margin of 5.98%.The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the business earned $3.43 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts expect that Icon Plc will post 9.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank Of Canada upped their price objective on Icon from $123.00 to $126.00 and gave the company a “sector perform” rating in a research note on Friday, May 29th. Leerink Partners set a $145.00 price objective on Icon in a research note on Thursday, May 28th. Piper Sandler lowered Icon to a “neutral” rating in a research note on Thursday, May 28th. Truist Financial upped their price objective on Icon from $139.00 to $159.00 and gave the company a “hold” rating in a research note on Friday, May 29th. Finally, Weiss Ratings lowered Icon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Icon currently has an average rating of “Hold” and a consensus price target of $156.44.

Icon 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.