Motley Fool Wealth Management LLC Cuts Holdings in ICON Public Limited (NASDAQ:ICLR)

Motley Fool Wealth Management LLC reduced its position in ICON Public Limited (NASDAQ:ICLR) by 8.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,572 shares of the medical research company’s stock after selling 5,943 shares during the period. Motley Fool Wealth Management LLC owned 0.08% of ICON Public worth $17,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ICLR. Ashton Thomas Private Wealth LLC bought a new stake in ICON Public in the second quarter worth $54,000. ORG Partners LLC purchased a new stake in shares of ICON Public during the 2nd quarter valued at about $59,000. GAMMA Investing LLC lifted its holdings in shares of ICON Public by 50.0% in the 2nd quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock valued at $82,000 after acquiring an additional 87 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in ICON Public by 17.4% in the first quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock worth $95,000 after acquiring an additional 42 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in ICON Public by 119.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the medical research company’s stock worth $130,000 after acquiring an additional 226 shares during the last quarter. 95.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ICLR has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of ICON Public from $375.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Evercore ISI dropped their price objective on ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Baird R W downgraded ICON Public from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. The Goldman Sachs Group dropped their price target on ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Leerink Partnrs upgraded shares of ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ICON Public has a consensus rating of “Moderate Buy” and an average target price of $292.45.

ICON Public Trading Down 0.3 %

ICLR stock opened at $212.99 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. ICON Public Limited has a 52-week low of $183.38 and a 52-week high of $347.72. The company’s 50-day simple moving average is $247.68 and its 200-day simple moving average is $293.20. The firm has a market cap of $17.57 billion, a P/E ratio of 23.74, a PEG ratio of 1.58 and a beta of 1.21.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.37). The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.10 earnings per share. As a group, equities analysts forecast that ICON Public Limited will post 13.42 EPS for the current fiscal year.

ICON Public Profile

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.