Eversept Partners LP Sells 27,144 Shares of Icon Plc $ICLR

Key Points

• Eversept Partners LP reduced its Icon stake by 28.3% in the first quarter, selling 27,144 shares and retaining 68,688 shares valued at approximately $7.6 million.
• Institutional investors own approximately 95.61% of Icon’s outstanding stock, with several other firms making modest changes to their positions.
• Analyst sentiment is mixed: Icon has a consensus “Hold” rating and an average price target of $168.73, while shares recently traded at $168.78 after rising 1.8%.

Eversept Partners LP lessened its stake in Icon Plc (NASDAQ:ICLR - Free Report) by 28.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,688 shares of the medical research company's stock after selling 27,144 shares during the quarter. Eversept Partners LP owned approximately 0.09% of Icon worth $7,601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC increased its holdings in Icon by 1.1% in the 4th quarter. Sanctuary Advisors LLC now owns 4,932 shares of the medical research company's stock valued at $899,000 after acquiring an additional 56 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Icon by 11.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company's stock valued at $79,000 after purchasing an additional 56 shares during the last quarter. Signaturefd LLC grew its position in shares of Icon by 12.6% during the fourth quarter. Signaturefd LLC now owns 643 shares of the medical research company's stock valued at $117,000 after purchasing an additional 72 shares in the last quarter. New Wave Wealth Advisors LLC grew its position in shares of Icon by 5.1% during the fourth quarter. New Wave Wealth Advisors LLC now owns 1,479 shares of the medical research company's stock valued at $270,000 after purchasing an additional 72 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Icon by 0.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,942 shares of the medical research company's stock worth $4,363,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 95.61% of the company's stock.

Wall Street Analyst Weigh In

ICLR has been the topic of a number of research analyst reports. Truist Financial upgraded Icon from a "hold" rating to a "buy" rating and boosted their target price for the stock from $159.00 to $207.00 in a research report on Tuesday, June 30th. Piper Sandler downgraded Icon to a "neutral" rating in a research note on Thursday, May 28th. Leerink Partners set a $145.00 price objective on Icon in a report on Thursday, May 28th. TD Cowen increased their target price on Icon from $164.00 to $197.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. Finally, Weiss Ratings lowered shares of Icon from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 29th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $168.73.

Icon Trading Up 1.8%

Shares of NASDAQ ICLR opened at $168.78 on Tuesday. Icon Plc has a 1-year low of $66.57 and a 1-year high of $203.91. 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 business's 50 day moving average is $152.21 and its two-hundred day moving average is $135.77. The stock has a market capitalization of $12.92 billion, a P/E ratio of 30.03, a PEG ratio of 8.14 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source