Wellington Management Group LLP Sells 592,983 Shares of Icon Plc $ICLR

Wellington Management Group LLP lowered its stake in Icon Plc (NASDAQ:ICLR) by 10.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,320,054 shares of the medical research company’s stock after selling 592,983 shares during the period. Wellington Management Group LLP owned approximately 6.95% of Icon worth $924,147,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ICLR. EFG International AG bought a new stake in Icon during the 4th quarter valued at approximately $27,000. Abound Financial LLC bought a new stake in shares of Icon in the fourth quarter valued at approximately $54,000. GAMMA Investing LLC boosted its position in shares of Icon by 21.4% in the second 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 during the period. Johnson Financial Group Inc. acquired a new stake in shares of Icon in the third quarter worth $71,000. Finally, Quadrant Capital Group LLC bought a new position in Icon during the third quarter worth $78,000. 95.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ICLR shares. Robert W. Baird set a $194.00 target price on shares of Icon in a research note on Friday, July 31st. Bank of America raised their price objective on Icon from $125.00 to $150.00 and gave the stock an “underperform” rating in a research report on Thursday, June 25th. UBS Group set a $160.00 target price on Icon in a research note on Wednesday, June 24th. BMO Capital Markets lifted their price target on shares of Icon from $160.00 to $187.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Finally, William Blair upgraded shares of Icon to a “strong-buy” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $170.40.

Icon Stock Up 0.2%

Shares of ICLR opened at $170.02 on Friday. The business’s fifty day moving average price is $167.20 and its two-hundred day moving average price is $134.06. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 39.91, a PEG ratio of 7.04 and a beta of 1.21. Icon Plc has a 52 week low of $66.57 and a 52 week high of $203.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95.

Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Thursday, July 30th. The medical research company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.01. Icon had a net margin of 3.99% and a return on equity of 8.02%. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the firm earned $3.26 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts predict that Icon Plc will post 9.58 earnings per share for the current year.

Insider Buying and Selling at Icon

In other news, Director Anne Clem Whitaker sold 841 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $164.29, for a total value of $138,167.89. Following the sale, the director directly owned 891 shares in the company, valued at $146,382.39. The trade was a 48.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eugene Pacelli Mccague sold 841 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $164.29, for a total transaction of $138,167.89. Following the transaction, the director owned 3,811 shares of the company’s stock, valued at $626,109.19. The trade was a 18.08% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,531 shares of company stock worth $1,565,764 in the last three months. 44.00% of the stock is owned by insiders.

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.