Maverick Capital Ltd. Buys New Stake in Icon Plc $ICLR

Key Points

• Maverick Capital purchased a new 13,887-share stake in Icon Plc during the first quarter, valued at approximately $1.54 million. Institutional investors collectively own 95.61% of the company.
• Icon shares opened at $168.78, above their 50-day and 200-day moving averages, with a market capitalization of $12.92 billion and a 52-week range of $66.57 to $203.91.
• Analyst sentiment is mixed: seven analysts rate Icon a Buy, six a Hold, and three a Sell, producing a consensus rating of “Hold” and an average price target of $168.73.

Maverick Capital Ltd. purchased a new position in Icon Plc (NASDAQ:ICLR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,887 shares of the medical research company's stock, valued at approximately $1,537,000.

Other hedge funds also recently bought and sold shares of the company. Toth Financial Advisory Corp purchased a new position in shares of Icon in the 4th quarter worth $27,000. EFG International AG purchased a new stake in shares of Icon during the 4th quarter valued at about $27,000. Abound Financial LLC purchased a new stake in shares of Icon during the 4th quarter valued at about $54,000. Johnson Financial Group Inc. bought a new position in shares of Icon in the 3rd quarter valued at about $71,000. Finally, Blue Trust Inc. grew its position in Icon by 207.5% in the first quarter. Blue Trust Inc. now owns 658 shares of the medical research company's stock worth $73,000 after acquiring an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company's stock.

Icon Price Performance

ICLR opened at $168.78 on Tuesday. The business has a fifty day moving average of $152.21 and a 200 day moving average of $135.77. The stock has a market cap of $12.92 billion, a P/E ratio of 30.03, a PEG ratio of 8.14 and a beta of 1.22. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. Icon Plc has a 52-week low of $66.57 and a 52-week high of $203.91.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ICLR shares. TD Cowen boosted their price objective on Icon from $164.00 to $197.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. lifted their target price on Icon from $130.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, June 25th. Robert W. Baird boosted their target price on Icon from $168.00 to $186.00 and gave the company an "outperform" rating in a research report on Thursday, June 25th. Piper Sandler lowered Icon to a "neutral" rating in a report on Thursday, May 28th. Finally, Barclays raised their price target on Icon from $160.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 25th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Icon currently has an average rating of "Hold" and a consensus target price of $168.73.

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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