Eagle Health Investments LP Buys 111,410 Shares of Icon Plc $ICLR

Key Points

• Eagle Health Investments LP increased its Icon stake by 45.1%, purchasing 111,410 additional shares to reach 358,500 shares valued at approximately $39.7 million. Icon now represents 6.9% of the fund’s portfolio, while institutional investors collectively own 95.61% of the company.
• Analyst sentiment remains mixed: seven analysts rate Icon a Buy, six a Hold and three a Sell, resulting in a consensus “Hold” rating and an average price target of $168.73. Several firms recently raised their targets, including Mizuho to $190 and Robert W. Baird to $186.
• Icon shares opened at $168.78, with a market capitalization of $12.92 billion and a P/E ratio of 30.03. The stock has traded between $66.57 and $203.91 over the past year and is above its 50-day and 200-day moving averages.

Eagle Health Investments LP boosted its stake in Icon Plc (NASDAQ:ICLR - Free Report) by 45.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 358,500 shares of the medical research company's stock after acquiring an additional 111,410 shares during the period. Icon accounts for 6.9% of Eagle Health Investments LP's investment portfolio, making the stock its 2nd largest holding. Eagle Health Investments LP owned about 0.44% of Icon worth $39,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new position in Icon during the fourth quarter worth $27,000. EFG International AG acquired a new position in shares of Icon in the 4th quarter valued at about $27,000. Abound Financial LLC acquired a new position in shares of Icon in the 4th quarter valued at about $54,000. Johnson Financial Group Inc. bought a new stake in shares of Icon during the 3rd quarter valued at about $71,000. Finally, Quadrant Capital Group LLC acquired a new stake in Icon during the third quarter worth approximately $78,000. Institutional investors and hedge funds own 95.61% of the company's stock.

Wall Street Analyst Weigh In

ICLR has been the topic of several recent analyst reports. Robert W. Baird boosted their price target on Icon from $168.00 to $186.00 and gave the company an "outperform" rating in a research note on Thursday, June 25th. Mizuho lifted their price objective on shares of Icon from $180.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, June 26th. Barclays boosted their target price on shares of Icon from $160.00 to $175.00 and gave the company an "equal weight" rating in a research report on Thursday, June 25th. Weiss Ratings lowered shares of Icon from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Icon from $130.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, June 25th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $168.73.

Icon Stock Up 1.8%

Shares of NASDAQ ICLR opened at $168.78 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14. The company has a 50-day moving average price of $152.21 and a 200-day moving average price of $135.77. The stock has a market capitalization of $12.92 billion, a P/E ratio of 30.03, a P/E/G ratio of 8.14 and a beta of 1.22. Icon Plc has a 1 year low of $66.57 and a 1 year high of $203.91.

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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