Entropy Technologies LP Reduces Stock Position in ICON Public Limited (NASDAQ:ICLR)

Entropy Technologies LP decreased its position in shares of ICON Public Limited (NASDAQ:ICLR) by 78.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,079 shares of the medical research company’s stock after selling 3,899 shares during the quarter. Entropy Technologies LP’s holdings in ICON Public were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new stake in ICON Public during the second quarter worth $54,000. ORG Partners LLC acquired a new stake in ICON Public in the 2nd quarter valued at about $59,000. GAMMA Investing LLC increased its holdings in ICON Public by 50.0% during 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 in the last quarter. EverSource Wealth Advisors LLC raised its position 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. lifted its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ICLR. The Goldman Sachs Group cut their price objective on ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Evercore ISI reduced their price objective on ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Barclays dropped their price objective on ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Truist Financial reduced their target price on shares of ICON Public from $363.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Redburn Atlantic initiated coverage on shares of ICON Public in a report on Monday, October 14th. They set a “neutral” rating and a $311.00 price target for the company. Four equities research 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. According to MarketBeat.com, ICON Public presently has an average rating of “Moderate Buy” and a consensus price target of $304.27.

ICON Public Stock Performance

NASDAQ:ICLR opened at $189.64 on Friday. ICON Public Limited has a fifty-two week low of $188.57 and a fifty-two week high of $347.72. The firm’s 50 day moving average is $267.03 and its two-hundred day moving average is $301.32. The company has a market cap of $15.64 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.51 and a beta of 1.25. 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 (NASDAQ:ICLR) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.72 by ($0.37). The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.13 billion. ICON Public had a return on equity of 11.91% and a net margin of 9.00%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $3.10 earnings per share. Analysts expect that ICON Public Limited will post 13.43 EPS for the current 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.