Somerset Trust Co Sells 142 Shares of Icon Plc (NASDAQ:ICLR)

Somerset Trust Co decreased its holdings in shares of Icon Plc (NASDAQ:ICLR) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,114 shares of the medical research company’s stock after selling 142 shares during the period. Somerset Trust Co’s holdings in Icon were worth $881,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. UBS Asset Management Americas Inc. boosted its stake in Icon by 30.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 326 shares of the medical research company’s stock worth $50,000 after purchasing an additional 77 shares during the period. FTB Advisors Inc. boosted its stake in shares of Icon by 27.6% during the 3rd quarter. FTB Advisors Inc. now owns 361 shares of the medical research company’s stock worth $52,000 after buying an additional 78 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Icon by 7.6% during the 3rd quarter. Parallel Advisors LLC now owns 1,168 shares of the medical research company’s stock worth $172,000 after buying an additional 83 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Icon by 3.9% during the 3rd quarter. Raymond James Trust N.A. now owns 2,791 shares of the medical research company’s stock worth $411,000 after buying an additional 104 shares during the last quarter. Finally, Cim LLC boosted its stake in shares of Icon by 2.2% during the 3rd quarter. Cim LLC now owns 5,026 shares of the medical research company’s stock worth $741,000 after buying an additional 107 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

A number of research firms have recently commented on ICLR. Wells Fargo & Co began coverage on shares of Icon in a research note on Tuesday, January 7th. They set an “equal weight” rating and a $180.00 price objective for the company. Zacks Investment Research upgraded shares of Icon from a “hold” rating to a “buy” rating and set a $191.00 price objective for the company in a research note on Wednesday, December 25th. Credit Suisse Group restated a “buy” rating and set a $160.00 price objective on shares of Icon in a research note on Monday, October 28th. UBS Group set a $160.00 price objective on shares of Icon and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Citigroup began coverage on shares of Icon in a research note on Monday, January 6th. They set a “neutral” rating and a $185.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Icon presently has a consensus rating of “Buy” and a consensus price target of $169.56.

NASDAQ:ICLR traded up $0.72 during mid-day trading on Friday, hitting $175.84. The stock had a trading volume of 8,968 shares, compared to its average volume of 268,155. Icon Plc has a twelve month low of $127.58 and a twelve month high of $175.20. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 2.05 and a beta of 0.70. The company’s 50 day simple moving average is $166.91 and its 200 day simple moving average is $155.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.03 and a current ratio of 2.03.

Icon (NASDAQ:ICLR) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $1.74 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.74. Icon had a net margin of 13.16% and a return on equity of 24.86%. The business had revenue of $710.40 million during the quarter, compared to the consensus estimate of $709.75 million. During the same period last year, the business posted $1.54 EPS. Icon’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that Icon Plc will post 6.89 earnings per share for the current year.

Icon Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It 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.

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Institutional Ownership by Quarter for Icon (NASDAQ:ICLR)

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