Handelsbanken Fonder AB Sells 9,064 Shares of Icon Plc $ICLR

Key Points

• Handelsbanken Fonder AB cut its stake in Icon Plc by 58.0% in Q3, selling 9,064 shares and retaining 6,563 shares valued at about $1.15 million.
• Institutional investors control 95.61% of Icon's stock, with several other funds making small buys or new stakes during the quarter.
• Analysts' consensus is a "Hold" rating with a consensus target of $157.47, though individual targets range widely (about $75 to $216) and the analyst split is 6 Buy / 9 Hold / 2 Sell.

Handelsbanken Fonder AB trimmed its position in Icon Plc (NASDAQ:ICLR - Free Report) by 58.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,563 shares of the medical research company's stock after selling 9,064 shares during the quarter. Handelsbanken Fonder AB's holdings in Icon were worth $1,149,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA boosted its holdings in shares of Icon by 200.0% in the 3rd quarter. Private Trust Co. NA now owns 141 shares of the medical research company's stock valued at $25,000 after purchasing an additional 94 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position 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 worth $58,000 after buying an additional 201 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Icon in the third quarter valued at about $63,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Icon in the second quarter valued at about $61,000. Finally, Geneos Wealth Management Inc. raised its stake in Icon by 11.5% during the second quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company's stock worth $79,000 after acquiring an additional 56 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Icon Stock Performance

NASDAQ:ICLR opened at $110.60 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06. Icon Plc has a fifty-two week low of $66.57 and a fifty-two week high of $211.00. The company has a 50 day simple moving average of $153.61 and a two-hundred day simple moving average of $168.53. The company has a market capitalization of $8.93 billion, a PE ratio of 14.97, a P/E/G ratio of 2.82 and a beta of 1.35.

Analysts Set New Price Targets

ICLR has been the topic of a number of research analyst reports. Mizuho set a $216.00 price target on shares of Icon in a research note on Friday, January 9th. Leerink Partners restated a "market perform" rating and issued a $105.00 target price on shares of Icon in a research report on Thursday, February 12th. Bank of America reaffirmed an "underperform" rating and set a $75.00 target price on shares of Icon in a research note on Thursday, February 12th. Zacks Research downgraded shares of Icon from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 25th. Finally, Rothschild & Co Redburn set a $100.00 price objective on Icon and gave the company a "neutral" rating in a report on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $157.47.

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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