Swedbank AB Has $7.05 Million Position in Icon Plc $ICLR

Key Points

• Swedbank AB cut its stake in Icon Plc by 19.5% in the fourth quarter, selling 9,400 shares and leaving it with 38,700 shares worth about $7.05 million.
• Institutional ownership remains high, with 95.61% of Icon’s stock held by institutions and hedge funds, even as several firms recently bought or added to positions.
• Analyst sentiment is mixed to cautious: Icon has a consensus rating of “Hold” and an average target price of $149.38, with some firms maintaining bearish views and others upgrading the stock.

Swedbank AB reduced its stake in Icon Plc (NASDAQ:ICLR - Free Report) by 19.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,700 shares of the medical research company's stock after selling 9,400 shares during the period. Swedbank AB's holdings in Icon were worth $7,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ICLR. Toth Financial Advisory Corp acquired a new position in shares of Icon in the fourth quarter valued at $27,000. Ameriflex Group Inc. acquired a new position in shares of Icon in the third quarter valued at $33,000. Wilmington Savings Fund Society FSB increased its holdings in shares of Icon by 153.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 332 shares of the medical research company's stock valued at $58,000 after purchasing an additional 201 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Icon in the third quarter valued at $63,000. Finally, Johnson Financial Group Inc. acquired a new position in shares of Icon in the third quarter valued at $71,000. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Icon Trading Down 0.4%

Shares of Icon stock opened at $124.49 on Friday. The firm has a 50-day moving average of $108.25 and a 200-day moving average of $147.36. The stock has a market cap of $10.05 billion, a PE ratio of 16.85, a PEG ratio of 3.25 and a beta of 1.23. Icon Plc has a 52-week low of $66.57 and a 52-week high of $211.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06.

Wall Street Analyst Weigh In

Several equities analysts have commented on ICLR shares. Robert W. Baird set a $119.00 price objective on shares of Icon in a report on Friday, February 13th. Bank of America reissued an "underperform" rating and issued a $75.00 target price on shares of Icon in a research report on Thursday, February 12th. Zacks Research cut shares of Icon from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 25th. TD Cowen raised shares of Icon from a "hold" rating to a "buy" rating and reduced their target price for the company from $183.00 to $120.00 in a research report on Wednesday, February 18th. Finally, Citigroup reduced their target price on shares of Icon from $200.00 to $120.00 and set a "neutral" rating for the company in a research report on Wednesday, March 11th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $149.38.

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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