BNP Paribas Financial Markets Trims Holdings in Icon Plc $ICLR

BNP Paribas Financial Markets trimmed its position in Icon Plc (NASDAQ:ICLR) by 71.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,501 shares of the medical research company’s stock after selling 123,094 shares during the quarter. BNP Paribas Financial Markets’ holdings in Icon were worth $9,020,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Icon in the fourth quarter worth about $160,073,000. Armor Advisors L.L.C. raised its position in Icon by 2.4% during the fourth quarter. Armor Advisors L.L.C. now owns 39,868 shares of the medical research company’s stock valued at $7,265,000 after acquiring an additional 934 shares in the last quarter. Malaga Cove Capital LLC raised its position in Icon by 37.3% during the fourth quarter. Malaga Cove Capital LLC now owns 5,589 shares of the medical research company’s stock valued at $1,018,000 after acquiring an additional 1,519 shares in the last quarter. Tandem Investment Advisors Inc. purchased a new position in Icon during the fourth quarter valued at approximately $251,000. Finally, Legal & General Group Plc raised its position in Icon by 7.7% during the fourth quarter. Legal & General Group Plc now owns 147,715 shares of the medical research company’s stock valued at $26,917,000 after acquiring an additional 10,609 shares in the last quarter. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Icon Stock Up 1.9%

Icon stock opened at $152.24 on Tuesday. 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 12 month low of $66.57 and a 12 month high of $211.00. The stock has a market capitalization of $11.66 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 11.81 and a beta of 1.26. The business has a 50 day simple moving average of $118.50 and a 200-day simple moving average of $140.68.

Icon (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, June 10th. The medical research company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.47 by $0.05. Icon had a return on equity of 9.50% and a net margin of 5.98%.The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the business earned $3.43 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts anticipate that Icon Plc will post 9.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ICLR has been the subject of several recent research reports. TD Cowen lifted their price target on Icon from $120.00 to $164.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Jefferies Financial Group reiterated a “buy” rating and set a $165.00 price target on shares of Icon in a research report on Friday, May 29th. Barclays lifted their price target on Icon from $120.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Truist Financial lifted their price target on Icon from $139.00 to $159.00 and gave the company a “hold” rating in a research report on Friday, May 29th. Finally, Robert W. Baird set a $119.00 price target on Icon in a research report on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $156.44.

Icon Company 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.