Motley Fool Wealth Management LLC Trims Position in ICON Public Limited (NASDAQ:ICLR)

Motley Fool Wealth Management LLC lowered its position in ICON Public Limited (NASDAQ:ICLR) by 8.7% in the third quarter, HoldingsChannel reports. The firm owned 62,572 shares of the medical research company’s stock after selling 5,943 shares during the period. Motley Fool Wealth Management LLC’s holdings in ICON Public were worth $17,978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of ICON Public in the 2nd quarter valued at approximately $54,000. ORG Partners LLC acquired a new position in ICON Public in the second quarter valued at approximately $59,000. GAMMA Investing LLC grew its position in ICON Public by 50.0% in the second quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock worth $82,000 after acquiring an additional 87 shares during the period. EverSource Wealth Advisors LLC increased its stake in ICON Public by 17.4% during 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 during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in ICON Public by 119.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the medical research company’s stock valued at $130,000 after purchasing an additional 226 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

ICON Public Stock Down 0.3 %

ICLR stock opened at $212.99 on Wednesday. The stock has a market capitalization of $17.57 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 1.58 and a beta of 1.21. ICON Public Limited has a one year low of $183.38 and a one year high of $347.72. The company has a fifty day moving average of $247.68 and a 200-day moving average of $293.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.34.

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Redburn Atlantic began coverage on shares of ICON Public in a research report on Monday, October 14th. They set a “neutral” rating and a $311.00 price objective for the company. JPMorgan Chase & Co. cut their target price on ICON Public from $375.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Evercore ISI decreased their price target 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. Finally, Leerink Partnrs raised ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.45.

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.