Icon Plc $ICLR Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Q4 stake in Icon by 1.1%, ending the quarter with 1,080,192 shares (1.34% ownership) valued at about $203.8 million, and institutional/hedge funds now own roughly 95.61% of the stock.
• Icon shares opened at $105.10 with a 12‑month range of $66.57–$211.00, a market capitalization of $8.49 billion and a trailing P/E of 14.22.
• Analyst sentiment is mixed: the consensus rating is Hold with an average price target of $148.80, and several firms recently trimmed targets to around $120.00.

Allspring Global Investments Holdings LLC grew its stake in Icon Plc (NASDAQ:ICLR - Free Report) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,080,192 shares of the medical research company's stock after buying an additional 11,335 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.34% of Icon worth $203,800,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ICLR. Private Trust Co. NA lifted its position in shares of Icon by 200.0% during the 3rd 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 during the last quarter. Ameriflex Group Inc. acquired a new stake in Icon in the third quarter valued at $33,000. Wilmington Savings Fund Society FSB lifted its holdings in 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 position in shares of Icon during the 3rd quarter worth about $63,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Icon in the 3rd quarter valued at about $71,000. 95.61% of the stock is owned by institutional investors and hedge funds.

Icon Stock Up 3.0%

Icon stock opened at $105.10 on Tuesday. The stock has a 50 day moving average of $124.83 and a two-hundred day moving average of $159.60. Icon Plc has a twelve month low of $66.57 and a twelve month high of $211.00. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.58 and a beta of 1.36. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ICLR shares. Leerink Partners restated a "market perform" rating and set a $105.00 target price on shares of Icon in a research note on Thursday, February 12th. Robert W. Baird set a $119.00 price objective on shares of Icon in a research report on Friday, February 13th. Truist Financial restated a "hold" rating and issued a $222.00 target price (down from $231.00) on shares of Icon in a report on Thursday, January 8th. Citigroup dropped their target price on shares of Icon from $200.00 to $120.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 11th. Finally, Barclays cut their price target on shares of Icon from $200.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Monday, March 9th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Icon currently has an average rating of "Hold" and a consensus price target of $148.80.

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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