Calamos Advisors LLC Acquires New Stake in Icon Plc $ICLR

Key Points

• Calamos Advisors bought a new Q4 position of 26,500 shares of Icon Plc, worth about $4.83 million, and institutional investors collectively own 95.61% of the company.
• Icon (NASDAQ:ICLR) trades near $102.17 with a market cap of $8.25 billion, a PE of 13.83, a 52‑week range of $66.57–$211, and its 50‑day moving average ($105.73) sits well below the 200‑day average ($150.84), signaling recent weakness.
• Analysts are split but the consensus is Hold with an average price target of $148.80, following mixed recent actions such as Citigroup cutting its target to $120, Bank of America keeping an "underperform" at $75, and TD Cowen upgrading to buy while lowering its target to $120.

Calamos Advisors LLC bought a new position in shares of Icon Plc (NASDAQ:ICLR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 26,500 shares of the medical research company's stock, valued at approximately $4,829,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ICLR. Muhlenkamp & Co. Inc. purchased a new stake in Icon in the third quarter valued at approximately $12,857,000. Mitchell Capital Management Co. purchased a new position in Icon in the 3rd quarter worth approximately $1,627,000. First National Bank of Omaha bought a new position in shares of Icon in the 3rd quarter worth $6,267,000. Tributary Capital Management LLC increased its holdings in shares of Icon by 84.5% in the 3rd quarter. Tributary Capital Management LLC now owns 11,752 shares of the medical research company's stock worth $2,057,000 after buying an additional 5,381 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Icon by 1.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,080,192 shares of the medical research company's stock valued at $203,800,000 after buying an additional 11,335 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company's stock.

Icon Price Performance

Shares of NASDAQ:ICLR opened at $102.17 on Monday. The stock has a market cap of $8.25 billion, a PE ratio of 13.83, a PEG ratio of 2.59 and a beta of 1.28. The company's fifty day moving average is $105.73 and its 200 day moving average is $150.84. Icon Plc has a 52 week low of $66.57 and a 52 week high of $211.00. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31.

Analyst Upgrades and Downgrades

ICLR has been the subject of several research reports. Mizuho set a $216.00 target price on shares of Icon in a research report on Friday, January 9th. Citigroup lowered their price target on Icon from $200.00 to $120.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 11th. Bank of America reaffirmed an "underperform" rating and set a $75.00 price target on shares of Icon in a research note on Thursday, February 12th. Rothschild & Co Redburn set a $100.00 price objective on Icon and gave the stock a "neutral" rating in a report on Tuesday, February 17th. Finally, TD Cowen upgraded Icon from a "hold" rating to a "buy" rating and reduced their price objective for the company from $183.00 to $120.00 in a research report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $148.80.

Icon Company Profile

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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