Icon Plc $ICLR Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its holdings in shares of Icon Plc (NASDAQ:ICLR) by 99.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 525 shares of the medical research company’s stock after selling 58,952 shares during the period. Peregrine Capital Management LLC’s holdings in Icon were worth $76,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financiere des Professionnels Fonds d investissement inc. grew its holdings in Icon by 31.0% during the second quarter. Financiere des Professionnels Fonds d investissement inc. now owns 50,212 shares of the medical research company’s stock worth $7,303,000 after acquiring an additional 11,894 shares during the period. Greenhaven Associates Inc. acquired a new stake in Icon in the second quarter valued at $2,565,000. DAVENPORT & Co LLC acquired a new stake in Icon in the second quarter valued at $403,000. Allspring Global Investments Holdings LLC grew its holdings in Icon by 18.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,060,499 shares of the medical research company’s stock valued at $157,887,000 after purchasing an additional 162,853 shares during the last quarter. Finally, Canoe Financial LP grew its holdings in Icon by 10.3% in the second quarter. Canoe Financial LP now owns 193,851 shares of the medical research company’s stock valued at $28,196,000 after purchasing an additional 18,174 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays lowered their target price on Icon from $190.00 to $185.00 and set an “equal weight” rating on the stock in a report on Friday, October 24th. Truist Financial upped their target price on Icon from $187.00 to $234.00 and gave the company a “buy” rating in a report on Friday, July 25th. Leerink Partners set a $220.00 target price on Icon in a report on Thursday, October 23rd. TD Cowen lowered their target price on Icon from $183.00 to $172.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Finally, Citigroup reissued a “neutral” rating and issued a $200.00 target price (down previously from $225.00) on shares of Icon in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $207.14.

Icon Stock Down 2.4%

ICLR opened at $177.73 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. The firm has a market cap of $14.35 billion, a P/E ratio of 24.05, a PEG ratio of 3.33 and a beta of 1.23. Icon Plc has a 52 week low of $125.10 and a 52 week high of $234.60. The business’s fifty day simple moving average is $178.73 and its 200 day simple moving average is $159.01.

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

About Icon

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.