Sei Investments Co. Trims Position in Icon Plc $ICLR

Key Points

• Sei Investments Co. reduced its stake in Icon Plc by 3.6% in the first quarter, selling 28,448 shares and leaving it with 757,489 shares worth about $83.8 million.
• Institutional ownership remains very high in Icon, with hedge funds and other institutions holding 95.61% of the company’s stock, and several firms recently adding to or starting positions.
• Analysts are mixed on the stock: the consensus rating is currently Hold with an average price target of $168.73, though some firms have recently raised targets and issued Buy/Outperform ratings.

Sei Investments Co. trimmed its holdings in shares of Icon Plc (NASDAQ:ICLR - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 757,489 shares of the medical research company's stock after selling 28,448 shares during the period. Sei Investments Co. owned approximately 0.94% of Icon worth $83,824,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ICLR. WINTON GROUP Ltd purchased a new position in Icon during the second quarter valued at approximately $254,000. Daiwa Securities Group Inc. raised its position in shares of Icon by 19.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 28,145 shares of the medical research company's stock worth $4,094,000 after purchasing an additional 4,546 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Icon by 97.6% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 71,360 shares of the medical research company's stock valued at $10,379,000 after purchasing an additional 35,253 shares during the last quarter. Peapack Gladstone Financial Corp acquired a new stake in Icon in the 2nd quarter valued at about $212,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Icon by 58.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 781 shares of the medical research company's stock worth $113,000 after acquiring an additional 289 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company's stock.

Icon Price Performance

ICLR opened at $165.76 on Friday. The stock's 50-day moving average price is $151.11 and its 200 day moving average price is $136.43. Icon Plc has a 12-month low of $66.57 and a 12-month high of $203.91. The firm has a market cap of $12.69 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 8.36 and a beta of 1.22. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ICLR. Leerink Partners set a $145.00 price target on shares of Icon in a research report on Thursday, May 28th. Citigroup upped their target price on shares of Icon from $140.00 to $165.00 and gave the company a "neutral" rating in a research report on Thursday, June 25th. Robert W. Baird lifted their price target on shares of Icon from $168.00 to $186.00 and gave the company an "outperform" rating in a research report on Thursday, June 25th. Mizuho boosted their price target on shares of Icon from $180.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, June 26th. Finally, Piper Sandler lowered shares of Icon to a "neutral" rating in a report on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus 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.

Want to see what other hedge funds are holding ICLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Icon Plc (NASDAQ:ICLR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.