Allspring Global Investments Holdings LLC Sells 998,057 Shares of Icon Plc $ICLR

Key Points

• Allspring Global Investments sharply reduced its stake in Icon Plc by 92.4% in the first quarter, selling 998,057 shares and leaving it with 82,135 shares worth about $9.15 million.
• Other institutional investors were also active in ICLR, and overall institutions now own 95.61% of the company’s stock.
• Wall Street sentiment is mixed but constructive: analysts have set price targets as high as $190, while the consensus rating is Hold with an average target of $173.19.

Allspring Global Investments Holdings LLC lessened its stake in Icon Plc (NASDAQ:ICLR - Free Report) by 92.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,135 shares of the medical research company's stock after selling 998,057 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of Icon worth $9,151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ICLR. Toth Financial Advisory Corp acquired a new position in shares of Icon in the 4th quarter valued at approximately $27,000. EFG International AG acquired a new stake in shares of Icon during the 4th quarter worth approximately $27,000. Abound Financial LLC acquired a new stake in shares of Icon during the 4th quarter worth approximately $54,000. Johnson Financial Group Inc. bought a new position in Icon in the third quarter valued at approximately $71,000. Finally, Quadrant Capital Group LLC bought a new position in Icon in the third quarter valued at approximately $78,000. Institutional investors own 95.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group set a $160.00 price objective on Icon in a research report on Wednesday, June 24th. DA Davidson set a $164.00 target price on Icon in a research report on Monday, June 1st. Citigroup boosted their target price on Icon from $140.00 to $165.00 and gave the stock a "neutral" rating in a research note on Thursday, June 25th. Barclays increased their target price on shares of Icon from $160.00 to $175.00 and gave the stock an "equal weight" rating in a report on Thursday, June 25th. Finally, Mizuho lifted their price target on shares of Icon from $180.00 to $190.00 and gave the company an "outperform" rating in a report on Friday, June 26th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $173.19.

Icon Stock Performance

NASDAQ:ICLR opened at $167.28 on Thursday. The stock's 50-day moving average is $149.05 and its 200-day moving average is $136.36. Icon Plc has a 1-year low of $66.57 and a 1-year high of $211.00. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31. The stock has a market cap of $12.81 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 8.18 and a beta of 1.22.

About Icon

Icon plc NASDAQ: ICLR is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon's service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.

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