Icon Plc $ICLR Shares Acquired by Fisher Funds Management LTD

Key Points

• Fisher Funds Management LTD raised its stake in Icon Plc by 19% in Q4 to 513,102 shares (an additional 82,019), making Icon its 7th-largest holding and owning about 0.64% of the company valued at $93.21 million.
• The Wall Street view is mixed: analysts are split across Buy/Hold/Sell, with a consensus "Hold" rating and a $148.80 price target.
• Icon shares opened at $115.58 (52-week range $66.57–$211.00) and the company has a market cap of ~$9.33B; the stock is highly institutionally owned (about 95.6%) and several other funds also increased Q4 positions.

Fisher Funds Management LTD lifted its holdings in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 513,102 shares of the medical research company's stock after buying an additional 82,019 shares during the period. Icon makes up about 2.4% of Fisher Funds Management LTD's investment portfolio, making the stock its 7th largest holding. Fisher Funds Management LTD owned about 0.64% of Icon worth $93,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SeaBridge Investment Advisors LLC boosted its position in shares of Icon by 50.5% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 22,263 shares of the medical research company's stock worth $4,057,000 after buying an additional 7,468 shares during the period. Foster Victor Wealth Advisors LLC boosted its position in shares of Icon by 39.6% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 1,573 shares of the medical research company's stock worth $287,000 after buying an additional 446 shares during the period. Timber Creek Capital Management LLC acquired a new position in shares of Icon during the fourth quarter worth approximately $5,646,000. Assetmark Inc. boosted its position in shares of Icon by 56.3% during the fourth quarter. Assetmark Inc. now owns 4,897 shares of the medical research company's stock worth $892,000 after buying an additional 1,763 shares during the period. Finally, Live Oak Private Wealth LLC boosted its position in shares of Icon by 3.2% during the fourth quarter. Live Oak Private Wealth LLC now owns 18,815 shares of the medical research company's stock worth $3,428,000 after buying an additional 582 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ICLR. 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. Zacks Research downgraded Icon from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 25th. Citigroup cut their target price on Icon from $200.00 to $120.00 and set a "neutral" rating for the company in a research report on Wednesday, March 11th. 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 report on Monday, March 9th. Finally, TD Cowen upgraded Icon from a "hold" rating to a "buy" rating and cut their target price for the stock from $183.00 to $120.00 in a research report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $148.80.

Icon Price Performance

Shares of NASDAQ:ICLR opened at $115.58 on Friday. Icon Plc has a one year low of $66.57 and a one year high of $211.00. The stock has a fifty day moving average of $107.33 and a 200-day moving average of $154.34. The company has a market capitalization of $9.33 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28. 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 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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