ICON plc
In the published model solve dated 2026-Q2, anchored at $176.83, ICON plc (ICLR) is priced for +15.3% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• ICON is one of the world's largest contract research organizations, running clinical trials for drug developers, and its $22.7 billion backlog is the visibility that defines the business. • The current strain is margin, not demand: first-quarter 2026 bookings were strong with a book-to-bill of 1.42, but adjusted gross margin fell to 24.4% from 28.4% a year earlier, and earnings per share dropped to $1.36 from $1.99. • Watch the conversion of bookings to revenue and the trajectory of biotech fu
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405 institutional managers reported holding ICLR in 13F filings for the quarter ended 2026-03-31. 58 opened new positions that quarter. Held by Artisan Partners, Wellington Management, Harris Associates (Oakmark), among others. On the short side, 3.2M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (2.9 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ICLR's share count grew 46.2% over the past five years even with $1.35B spent on repurchases. It pays no dividend. Cash returned over the past three years: $1.25B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.