Nicholas Hoffman & Company LLC. Boosts Stock Holdings in Icon Plc $ICLR

Nicholas Hoffman & Company LLC. grew its holdings in shares of Icon Plc (NASDAQ:ICLR) by 65.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,954 shares of the medical research company’s stock after purchasing an additional 3,548 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Icon were worth $991,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ICLR. Allspring Global Investments Holdings LLC grew its holdings in shares of Icon by 1.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,080,192 shares of the medical research company’s stock worth $203,800,000 after acquiring an additional 11,335 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Icon during the third quarter worth $39,074,000. Jennison Associates LLC purchased a new stake in Icon during the fourth quarter worth $123,542,000. Franklin Resources Inc. boosted its position in Icon by 35.4% during the third quarter. Franklin Resources Inc. now owns 2,753,528 shares of the medical research company’s stock worth $481,692,000 after purchasing an additional 719,301 shares in the last quarter. Finally, Trinity Street Asset Management LLP grew its holdings in Icon by 23.1% in the fourth quarter. Trinity Street Asset Management LLP now owns 1,072,428 shares of the medical research company’s stock valued at $195,418,000 after purchasing an additional 201,455 shares during the last quarter. 95.61% of the stock is owned by institutional investors and hedge funds.

Icon Price Performance

NASDAQ:ICLR opened at $168.72 on Wednesday. Icon Plc has a 12-month low of $66.57 and a 12-month high of $211.00. The firm has a market cap of $12.92 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 8.39 and a beta of 1.22. The company’s 50-day moving average is $137.96 and its two-hundred day moving average is $137.39. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31.

Icon (NASDAQ:ICLR) last issued its quarterly earnings results on Tuesday, June 23rd. The medical research company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.07. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.98 billion. Icon had a net margin of 5.35% and a return on equity of 8.73%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.43 earnings per share. Research analysts expect that Icon Plc will post 9.43 EPS for the current year.

Analysts Set New Price Targets

ICLR has been the topic of several recent research reports. Piper Sandler lowered shares of Icon to a “neutral” rating in a research report on Thursday, May 28th. BMO Capital Markets raised their target price on shares of Icon from $160.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. JPMorgan Chase & Co. lifted their target price on shares of Icon from $130.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Bank of America increased their price target on shares of Icon from $125.00 to $150.00 and gave the company an “underperform” rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada raised shares of Icon from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $126.00 to $185.00 in a research note on Thursday, June 25th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $173.19.

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.