Capital World Investors Takes $39.97 Million Position in Icon Plc $ICLR

Key Points

• Capital World Investors bought 228,384 shares of Icon Plc (NASDAQ:ICLR) in Q3, a new position valued at approximately $39.97 million, equal to about 0.28% of the company.
• Hedge funds and other institutional investors own 95.61% of Icon’s stock, with several other institutions adding small new stakes or increasing holdings in the quarter.
• Analysts’ consensus is a Hold with an average target of $146.80, though recent notes include downgrades and price-target cuts (e.g., Bank of America "underperform" $75, Barclays cut target to $120, Zacks to "strong sell").

Capital World Investors purchased a new position in shares of Icon Plc (NASDAQ:ICLR - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 228,384 shares of the medical research company's stock, valued at approximately $39,967,000. Capital World Investors owned 0.28% of Icon as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its stake in shares of Icon by 200.0% in 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 in the last quarter. Ameriflex Group Inc. bought a new stake in shares of Icon in the third quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Icon by 153.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 332 shares of the medical research company's stock valued at $58,000 after buying an additional 201 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Icon in the 3rd quarter worth approximately $63,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Icon by 11.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company's stock worth $79,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 95.61% of the company's stock.

Analyst Ratings Changes

ICLR has been the topic of a number of analyst reports. Bank of America reissued an "underperform" rating and set a $75.00 target price on shares of Icon in a report on Thursday, February 12th. Truist Financial reaffirmed a "hold" rating and issued a $222.00 price target (down from $231.00) on shares of Icon in a report on Thursday, January 8th. Zacks Research cut Icon from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Icon in a report on Monday, December 29th. Finally, 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. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Icon has an average rating of "Hold" and an average target price of $146.80.

Icon Price Performance

Shares of Icon stock opened at $97.45 on Friday. The firm has a market capitalization of $7.87 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 2.70 and a beta of 1.35. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31. Icon Plc has a 12 month low of $66.57 and a 12 month high of $211.00. The business's 50-day moving average price is $145.89 and its 200-day moving average price is $166.01.

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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