First Horizon Advisors Inc. Cuts Stake in ICON Public Limited (NASDAQ:ICLR)

First Horizon Advisors Inc. reduced its stake in shares of ICON Public Limited (NASDAQ:ICLR) by 35.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387 shares of the medical research company’s stock after selling 210 shares during the quarter. First Horizon Advisors Inc.’s holdings in ICON Public were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS grew its holdings in ICON Public by 40.6% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 97,102 shares of the medical research company’s stock valued at $20,363,000 after buying an additional 28,050 shares in the last quarter. Foyston Gordon & Payne Inc purchased a new stake in ICON Public during the 3rd quarter valued at approximately $11,672,000. Icon Wealth Advisors LLC grew its holdings in ICON Public by 861.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock valued at $3,797,000 after buying an additional 11,840 shares in the last quarter. Entropy Technologies LP grew its holdings in ICON Public by 472.2% during the 4th quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company’s stock valued at $1,295,000 after buying an additional 5,095 shares in the last quarter. Finally, Tributary Capital Management LLC boosted its position in shares of ICON Public by 116.1% during the 4th quarter. Tributary Capital Management LLC now owns 3,950 shares of the medical research company’s stock valued at $828,000 after acquiring an additional 2,122 shares during the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

ICON Public Stock Down 0.7 %

Shares of ICLR opened at $196.20 on Thursday. The firm has a market capitalization of $16.19 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.86 and a beta of 1.19. ICON Public Limited has a 12-month low of $181.51 and a 12-month high of $347.72. The company has a current ratio of 1.26, a quick ratio of 1.34 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $202.52 and a 200-day moving average price of $242.53.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, February 19th. The medical research company reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.01. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.04 billion. ICON Public had a net margin of 9.56% and a return on equity of 11.81%. Equities research analysts expect that ICON Public Limited will post 13.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ICLR. Barclays lowered their target price on ICON Public from $275.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Truist Financial lowered their target price on ICON Public from $284.00 to $262.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $263.00 target price on shares of ICON Public in a research report on Wednesday, January 15th. Leerink Partners reiterated an “outperform” rating and set a $255.00 target price (down from $270.00) on shares of ICON Public in a research report on Tuesday, November 19th. Finally, William Blair restated an “outperform” rating on shares of ICON Public in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $281.00.

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.