Jennison Associates LLC acquired a new position in Icon Plc (NASDAQ:ICLR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 677,981 shares of the medical research company's stock, valued at approximately $123,542,000. Jennison Associates LLC owned approximately 0.84% of Icon as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in Icon by 26.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company's stock worth $811,499,000 after purchasing an additional 975,268 shares in the last quarter. Invesco Ltd. grew its position in Icon by 11.1% in the 3rd quarter. Invesco Ltd. now owns 3,427,630 shares of the medical research company's stock worth $599,835,000 after purchasing an additional 341,637 shares in the last quarter. Principal Financial Group Inc. grew its position in Icon by 739.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company's stock worth $573,526,000 after purchasing an additional 2,886,755 shares in the last quarter. Ninety One UK Ltd grew its position in Icon by 0.4% in the 3rd quarter. Ninety One UK Ltd now owns 3,006,141 shares of the medical research company's stock worth $526,075,000 after purchasing an additional 12,489 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Icon by 35.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,753,528 shares of the medical research company's stock worth $481,692,000 after purchasing an additional 719,301 shares in the last quarter. 95.61% of the stock is owned by institutional investors.
Icon Stock Down 2.9%
ICLR opened at $112.81 on Thursday. The company has a 50 day moving average of $106.61 and a 200 day moving average of $149.44. The company has a market cap of $9.11 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 2.61 and a beta of 1.28. Icon Plc has a 12 month low of $66.57 and a 12 month high of $211.00. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31.
Analyst Ratings Changes
A number of equities research analysts have issued reports on ICLR shares. Rothschild & Co Redburn set a $100.00 price objective on shares of Icon and gave the stock a "neutral" rating in a research report on Tuesday, February 17th. Jefferies Financial Group set a $135.00 target price on shares of Icon and gave the company a "buy" rating in a research report on Monday, February 23rd. Barclays reduced their target price on shares of Icon from $200.00 to $120.00 and set an "equal weight" rating for the company in a research report on Monday, March 9th. Leerink Partners reissued a "market perform" rating and set a $105.00 target price on shares of Icon in a research report on Thursday, February 12th. Finally, Bank of America reissued an "underperform" rating and set a $75.00 target price on shares of Icon in a research report on Thursday, February 12th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $148.71.
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About Icon
(
Free Report)
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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