Hsbc Holdings PLC Invests $2.01 Million in Icon Plc $ICLR

Hsbc Holdings PLC acquired a new stake in Icon Plc (NASDAQ:ICLR) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 11,028 shares of the medical research company’s stock, valued at approximately $2,012,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ICLR. WINTON GROUP Ltd acquired a new position in Icon during the second quarter valued at approximately $254,000. Daiwa Securities Group Inc. increased its position in shares of 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 purchasing an additional 4,546 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of 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 purchasing an additional 35,253 shares during the last quarter. Peapack Gladstone Financial Corp bought a new stake in shares of Icon during the 2nd quarter worth approximately $212,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Icon from $168.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Piper Sandler lowered shares of Icon to a “neutral” rating in a research report on Thursday, May 28th. TD Cowen increased their price target on shares of Icon from $164.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial lifted their price objective on shares of Icon from $139.00 to $159.00 and gave the company a “hold” rating in a research report on Friday, May 29th. Finally, Jefferies Financial Group restated a “buy” rating and set a $165.00 price objective on shares of Icon in a research note on Friday, May 29th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $170.19.

Icon Stock Up 1.8%

ICLR stock opened at $172.99 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $13.25 billion, a PE ratio of 30.78, a PEG ratio of 8.38 and a beta of 1.26. Icon Plc has a 1-year low of $66.57 and a 1-year high of $211.00. The business’s 50 day simple moving average is $130.79 and its 200 day simple moving average is $137.91.

Icon (NASDAQ:ICLR) last announced its quarterly earnings results on Tuesday, June 23rd. The medical research company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.07. Icon had a return on equity of 8.73% and a net margin of 5.35%.The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm posted $3.43 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts anticipate that Icon Plc will post 9.39 EPS for the current year.

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.