Whittier Trust Co. Boosts Position in ICON Public Limited (NASDAQ:ICLR)

Whittier Trust Co. boosted its holdings in shares of ICON Public Limited (NASDAQ:ICLR) by 8.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,579 shares of the medical research company’s stock after buying an additional 284 shares during the quarter. Whittier Trust Co.’s holdings in ICON Public were worth $1,122,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. CIBC Private Wealth Group LLC raised its position in ICON Public by 0.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 695,932 shares of the medical research company’s stock worth $196,998,000 after buying an additional 6,331 shares during the last quarter. State of Tennessee Treasury Department raised its position in ICON Public by 4.9% during the 4th quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company’s stock worth $44,101,000 after buying an additional 7,270 shares during the last quarter. Liontrust Investment Partners LLP raised its position in ICON Public by 19.5% during the 2nd quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock worth $37,531,000 after buying an additional 19,546 shares during the last quarter. Amalgamated Bank raised its position in ICON Public by 15.8% during the 4th quarter. Amalgamated Bank now owns 9,771 shares of the medical research company’s stock worth $2,766,000 after buying an additional 1,333 shares during the last quarter. Finally, Motco raised its position in ICON Public by 1.5% during the 1st quarter. Motco now owns 3,882 shares of the medical research company’s stock worth $1,304,000 after buying an additional 59 shares during the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ICLR. The Goldman Sachs Group started coverage on shares of ICON Public in a research report on Thursday, June 6th. They set a “buy” rating and a $370.00 price target for the company. Barclays lowered their price target on shares of ICON Public from $355.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Robert W. Baird raised their price target on shares of ICON Public from $367.00 to $376.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. William Blair restated an “outperform” rating on shares of ICON Public in a research note on Friday, May 31st. Finally, Truist Financial increased their price target on ICON Public from $367.00 to $383.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $352.56.

ICON Public Stock Performance

NASDAQ ICLR opened at $320.58 on Friday. The stock’s 50 day simple moving average is $322.67 and its 200-day simple moving average is $318.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market cap of $26.45 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 1.46 and a beta of 1.22. ICON Public Limited has a 1-year low of $221.20 and a 1-year high of $347.72.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, July 24th. The medical research company reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.96 earnings per share. As a group, equities research analysts anticipate that ICON Public Limited will post 14.54 EPS for the current fiscal year.

About ICON Public

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.