Clearbridge Investments LLC Cuts Stock Position in Icon Plc $ICLR

Clearbridge Investments LLC reduced its position in Icon Plc (NASDAQ:ICLR) by 45.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 616,991 shares of the medical research company’s stock after selling 517,449 shares during the quarter. Clearbridge Investments LLC’s holdings in Icon were worth $112,428,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC boosted its holdings in shares of Icon by 1.1% in the 4th quarter. Sanctuary Advisors LLC now owns 4,932 shares of the medical research company’s stock worth $899,000 after purchasing an additional 56 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Icon by 11.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock worth $79,000 after purchasing an additional 56 shares in the last quarter. New Wave Wealth Advisors LLC boosted its holdings in shares of Icon by 5.1% in the 4th quarter. New Wave Wealth Advisors LLC now owns 1,479 shares of the medical research company’s stock worth $270,000 after purchasing an additional 72 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Icon by 12.6% in the 4th quarter. Signaturefd LLC now owns 643 shares of the medical research company’s stock worth $117,000 after purchasing an additional 72 shares in the last quarter. Finally, 1900 Wealth Management LLC boosted its holdings in shares of Icon by 4.4% in the 4th quarter. 1900 Wealth Management LLC now owns 2,430 shares of the medical research company’s stock worth $443,000 after purchasing an additional 103 shares in the last quarter. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ICLR. TD Cowen upped their price objective on Icon from $120.00 to $164.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Barclays boosted their target price on Icon from $120.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. BMO Capital Markets boosted their target price on Icon from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Weiss Ratings lowered Icon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Finally, Truist Financial boosted their target price on Icon from $139.00 to $159.00 and gave the company a “hold” rating in a research note on Friday, May 29th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Icon currently has an average rating of “Hold” and a consensus price target of $156.44.

Icon Stock Performance

ICLR opened at $149.45 on Monday. The business has a 50 day simple moving average of $117.51 and a two-hundred day simple moving average of $140.74. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 11.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.10 and a quick ratio of 1.10. Icon Plc has a one year low of $66.57 and a one year high of $211.00.

Icon (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, May 27th. The medical research company reported $2.21 EPS for the quarter. The business had revenue of $2.11 billion during the quarter. Icon had a return on equity of 9.50% and a net margin of 5.98%.Icon has set its FY 2026 guidance at 10.000-11.000 EPS. Analysts predict that Icon Plc will post 9.74 EPS for the current year.

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.