Capital Research Global Investors Buys 67,480 Shares of Icon Plc $ICLR

Key Points

• Capital Research Global Investors raised its stake in Icon Plc by 69.5%, buying 67,480 shares to hold 164,563 shares (about 0.20% of the company) valued at roughly $28.8M at quarter-end.
• Institutional investors and hedge funds own a concentrated 95.61% of Icon’s stock, reflecting heavy institutional ownership.
• Analysts have a consensus rating of Hold with a consensus price target of $146.80, though several firms trimmed targets to about $120; the stock recently traded near $97.45, below its 50- and 200-day moving averages.

Capital Research Global Investors raised its stake in Icon Plc (NASDAQ:ICLR - Free Report) by 69.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,563 shares of the medical research company's stock after acquiring an additional 67,480 shares during the period. Capital Research Global Investors owned approximately 0.20% of Icon worth $28,799,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ICLR. Geneos Wealth Management Inc. increased its position in shares of Icon by 11.5% in the second quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company's stock worth $79,000 after purchasing an additional 56 shares during the period. Spire Wealth Management lifted its position in Icon by 10.1% during the third quarter. Spire Wealth Management now owns 678 shares of the medical research company's stock worth $119,000 after purchasing an additional 62 shares during the period. Private Trust Co. NA lifted its position in Icon by 200.0% during the third quarter. Private Trust Co. NA now owns 141 shares of the medical research company's stock worth $25,000 after purchasing an additional 94 shares during the period. Sierra Legacy Group grew its stake in Icon by 2.5% during the third quarter. Sierra Legacy Group now owns 4,540 shares of the medical research company's stock worth $794,000 after buying an additional 110 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its holdings in Icon by 1.8% in the 2nd quarter. SkyView Investment Advisors LLC now owns 6,321 shares of the medical research company's stock valued at $914,000 after buying an additional 113 shares during the period. 95.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on ICLR shares. Robert W. Baird set a $119.00 target price on shares of Icon in a research report on Friday, February 13th. Zacks Research cut shares of Icon from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 25th. Citigroup lowered their price objective on shares of Icon from $200.00 to $120.00 and set a "neutral" rating for the company in a research report on Wednesday. Barclays cut their target price on Icon from $200.00 to $120.00 and set an "equal weight" rating for the company in a research note on Monday. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Icon in a report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $146.80.

Icon Stock Performance

Icon stock opened at $97.45 on Friday. The business has a 50 day moving average of $145.89 and a 200-day moving average of $166.01. The company has a market capitalization of $7.87 billion, a P/E ratio of 13.19, a P/E/G ratio of 2.70 and a beta of 1.35. Icon Plc has a 1 year low of $66.57 and a 1 year high of $211.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06.

Icon 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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