M&T Bank Corp Has $31.50 Million Holdings in Icon Plc $ICLR

Key Points

• M&T Bank boosted its stake in Icon Plc by 10,115.2% in Q4, adding 171,150 shares to hold 172,842 shares worth about $31.50 million (≈0.21% of the company).
• Institutional investors and hedge funds own a very large portion of Icon — about 95.61% of the stock — while several smaller wealth managers made modest buys during recent quarters.
• Analysts are mixed with a consensus rating of Hold and an average target of $148.80; Icon shares traded at $115.43 with a 1-year range of $66.57–$211.00 and a market cap near $9.3 billion.

M&T Bank Corp grew its stake in Icon Plc (NASDAQ:ICLR - Free Report) by 10,115.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,842 shares of the medical research company's stock after purchasing an additional 171,150 shares during the period. M&T Bank Corp owned about 0.21% of Icon worth $31,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its position in Icon by 11.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company's stock worth $79,000 after purchasing an additional 56 shares during the last quarter. Spire Wealth Management grew its position in Icon by 10.1% in the 3rd quarter. Spire Wealth Management now owns 678 shares of the medical research company's stock worth $119,000 after purchasing an additional 62 shares during the last quarter. New Wave Wealth Advisors LLC grew its position in Icon by 5.1% in the 4th quarter. New Wave Wealth Advisors LLC now owns 1,479 shares of the medical research company's stock worth $270,000 after purchasing an additional 72 shares during the last quarter. Signaturefd LLC grew its position in Icon by 12.6% in the 4th quarter. Signaturefd LLC now owns 643 shares of the medical research company's stock worth $117,000 after purchasing an additional 72 shares during the last quarter. Finally, Private Trust Co. NA grew its position in Icon by 200.0% in 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. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on ICLR shares. Mizuho set a $216.00 price target on shares of Icon in a research report on Friday, January 9th. Truist Financial reaffirmed a "hold" rating and set a $222.00 price objective (down from $231.00) on shares of Icon in a report on Thursday, January 8th. Rothschild & Co Redburn set a $100.00 price objective on shares of Icon and gave the stock a "neutral" rating in a report on Tuesday, February 17th. TD Cowen raised shares of Icon from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $183.00 to $120.00 in a report on Wednesday, February 18th. Finally, Citigroup reduced their price objective on shares of Icon from $200.00 to $120.00 and set a "neutral" rating for the company in a report on Wednesday, March 11th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Icon has a consensus rating of "Hold" and an average target price of $148.80.

Icon Trading Up 0.2%

Shares of NASDAQ ICLR opened at $115.43 on Thursday. Icon Plc has a 1-year low of $66.57 and a 1-year high of $211.00. The company has a market cap of $9.32 billion, a PE ratio of 15.62, a P/E/G ratio of 2.91 and a beta of 1.28. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $105.02 and a two-hundred day moving average of $152.27.

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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