Russell Investments Group Ltd. Buys 68,493 Shares of Icon Plc $ICLR

Key Points

• Russell Investments raised its stake in Icon Plc by 38.7%, buying 68,493 shares to hold 245,647 shares (about 0.30% of the company) valued at approximately $42,988,000.
• Analysts are mixed: the consensus rating is Hold with a $146.80 average price target (6 Buy, 9 Hold, 2 Sell), and recent notable moves include Citigroup cutting its target from $200 to $120.
• Icon shares trade at $105.38 with a 52-week range of $66.57–$211.00 and a market cap of $8.51 billion, reflecting a sizable drop from the year high.

Russell Investments Group Ltd. boosted its position in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 38.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,647 shares of the medical research company's stock after purchasing an additional 68,493 shares during the period. Russell Investments Group Ltd. owned about 0.30% of Icon worth $42,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its stake in Icon by 11.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company's stock valued at $79,000 after buying an additional 56 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Icon by 10.1% during the 3rd quarter. Spire Wealth Management now owns 678 shares of the medical research company's stock worth $119,000 after buying an additional 62 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Icon by 200.0% in the 3rd quarter. Private Trust Co. NA now owns 141 shares of the medical research company's stock valued at $25,000 after acquiring an additional 94 shares in the last quarter. Sierra Legacy Group grew its holdings in shares of Icon by 2.5% in the 3rd quarter. Sierra Legacy Group now owns 4,540 shares of the medical research company's stock valued at $794,000 after acquiring an additional 110 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its position in shares of Icon by 1.8% in the second quarter. SkyView Investment Advisors LLC now owns 6,321 shares of the medical research company's stock valued at $914,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company's stock.

Analyst Ratings Changes

ICLR has been the subject of several recent research reports. Mizuho set a $216.00 price target on Icon in a research report on Friday, January 9th. 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. Weiss Ratings reissued a "hold (c)" rating on shares of Icon in a report on Monday, December 29th. Truist Financial reissued a "hold" rating and issued a $222.00 target price (down from $231.00) on shares of Icon in a research note on Thursday, January 8th. Finally, Jefferies Financial Group set a $135.00 target price on shares of Icon and gave the stock a "buy" rating in a report on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $146.80.

Icon Stock Performance

Shares of ICLR stock opened at $105.38 on Thursday. Icon Plc has a 52 week low of $66.57 and a 52 week high of $211.00. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.73 and a beta of 1.35. The company has a 50-day simple moving average of $147.59 and a 200 day simple moving average of $166.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06.

Icon Company 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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