Icon Plc $ICLR Shares Sold by Brant Point Investment Management LLC

Brant Point Investment Management LLC reduced its stake in shares of Icon Plc (NASDAQ:ICLR) by 40.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,000 shares of the medical research company’s stock after selling 4,000 shares during the quarter. Brant Point Investment Management LLC’s holdings in Icon were worth $1,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ICLR. WINTON GROUP Ltd acquired a new stake in Icon during the 2nd quarter worth $254,000. Daiwa Securities Group Inc. raised its stake in Icon by 19.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 28,145 shares of the medical research company’s stock worth $4,094,000 after acquiring an additional 4,546 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in Icon by 97.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 71,360 shares of the medical research company’s stock worth $10,379,000 after acquiring an additional 35,253 shares in the last quarter. Peapack Gladstone Financial Corp acquired a new stake in Icon during the 2nd quarter worth $212,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Icon by 58.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 781 shares of the medical research company’s stock worth $113,000 after acquiring an additional 289 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Icon Trading Down 2.5%

Shares of Icon stock opened at $146.18 on Friday. Icon Plc has a 1 year low of $66.57 and a 1 year high of $211.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $11.19 billion, a P/E ratio of 23.73, a PEG ratio of 11.55 and a beta of 1.26. The company’s fifty day moving average is $121.76 and its two-hundred day moving average is $140.47.

Icon (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, June 17th. The medical research company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.05. Icon had a net margin of 5.98% and a return on equity of 9.50%. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the firm posted $3.43 EPS. Icon’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts forecast that Icon Plc will post 9.74 earnings per share for the current year.

Analysts Set New Price Targets

ICLR has been the topic of several research analyst reports. TD Cowen lifted their price target on shares of Icon from $120.00 to $164.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Jefferies Financial Group reiterated a “buy” rating and set a $165.00 price target on shares of Icon in a research note on Friday, May 29th. Barclays lifted their price target on shares of Icon from $120.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Leerink Partners set a $145.00 price target on shares of Icon in a research note on Thursday, May 28th. Finally, Piper Sandler lowered shares of Icon to a “neutral” rating in a research note on Thursday, May 28th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $156.44.

About Icon

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.