JPMorgan Chase & Co. Sells 614,165 Shares of Icon Plc $ICLR

Key Points

• JPMorgan Chase & Co. sold 614,165 shares of Icon in Q3, trimming its stake by 81.6% to 138,868 shares (about 0.17% of the company) valued at roughly $24.3 million.
• Analysts have a consensus rating of Hold with a consensus price target of $146.80, while sentiment is mixed (six Buys, eight Holds, three Sells) against Icon’s recent share price near $100.35.

JPMorgan Chase & Co. trimmed its stake in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 81.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,868 shares of the medical research company's stock after selling 614,165 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.17% of Icon worth $24,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Private Trust Co. NA increased its position in Icon by 200.0% during 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 during the period. Ameriflex Group Inc. acquired a new position in shares of Icon in the 3rd quarter worth approximately $33,000. Wilmington Savings Fund Society FSB lifted its position in shares of Icon by 153.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 332 shares of the medical research company's stock worth $58,000 after purchasing an additional 201 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Icon in the 3rd quarter valued at $63,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Icon in the 3rd quarter valued at $71,000. 95.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ICLR has been the subject of a number of analyst reports. Truist Financial reissued a "hold" rating and set a $222.00 target price (down from $231.00) on shares of Icon in a research note on Thursday, January 8th. Jefferies Financial Group set a $135.00 price target on shares of Icon and gave the company a "buy" rating in a research report on Monday, February 23rd. Bank of America reiterated an "underperform" rating and set a $75.00 price target on shares of Icon in a report on Thursday, February 12th. Citigroup dropped their price objective on Icon from $200.00 to $120.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 11th. Finally, Rothschild & Co Redburn set a $100.00 target price on Icon and gave the company a "neutral" rating in a research report on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Icon has a consensus rating of "Hold" and a consensus price target of $146.80.

Icon Stock Up 0.7%

Icon stock opened at $100.35 on Tuesday. The company has a market capitalization of $8.10 billion, a PE ratio of 13.58, a PEG ratio of 2.55 and a beta of 1.36. Icon Plc has a 12-month low of $66.57 and a 12-month high of $211.00. The firm's fifty day moving average is $132.92 and its 200 day moving average is $162.07. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31.

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.

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