Timber Creek Capital Management LLC Makes New $5.65 Million Investment in Icon Plc $ICLR

Key Points

• Timber Creek Capital Management acquired a new position of 30,985 shares in Icon Plc valued at $5.65 million, representing about 1.3% of its portfolio and the firm's 29th largest holding.
• Analysts are mixed: Icon's consensus rating is Hold with an average price target of $148.80, though recent actions include TD Cowen upgrading to Buy while cutting its target to $120 and Barclays and Zacks lowering targets/ratings.
• Institutional investors own 95.61% of Icon's stock; the shares trade near $110 with a market cap of $8.91 billion, a P/E of 14.94 and a 1‑year range of $66.57–$211.00.

Timber Creek Capital Management LLC acquired a new position in shares of Icon Plc (NASDAQ:ICLR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 30,985 shares of the medical research company's stock, valued at approximately $5,646,000. Icon accounts for about 1.3% of Timber Creek Capital Management LLC's portfolio, making the stock its 29th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its position in Icon by 11.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company's stock worth $79,000 after acquiring an additional 56 shares during the period. Spire Wealth Management lifted its position in 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 acquiring an additional 62 shares during the period. New Wave Wealth Advisors LLC lifted its position in Icon by 5.1% during the 4th quarter. New Wave Wealth Advisors LLC now owns 1,479 shares of the medical research company's stock worth $270,000 after acquiring an additional 72 shares during the period. Signaturefd LLC lifted its position in Icon by 12.6% during the 4th quarter. Signaturefd LLC now owns 643 shares of the medical research company's stock worth $117,000 after acquiring an additional 72 shares during the period. Finally, Private Trust Co. NA lifted its position in Icon by 200.0% during the 3rd quarter. Private Trust Co. NA now owns 141 shares of the medical research company's stock worth $25,000 after acquiring an additional 94 shares during the period. 95.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ICLR has been the subject of a number of recent research reports. TD Cowen raised Icon from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $183.00 to $120.00 in a research report on Wednesday, February 18th. Leerink Partners reaffirmed a "market perform" rating and set a $105.00 price objective on shares of Icon in a research report on Thursday, February 12th. Barclays reduced their price target on Icon from $200.00 to $120.00 and set an "equal weight" rating for the company in a report on Monday, March 9th. Zacks Research cut Icon from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 25th. Finally, Mizuho set a $216.00 price target on Icon in a report on Friday, January 9th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $148.80.

Icon Stock Performance

NASDAQ ICLR opened at $110.37 on Tuesday. Icon Plc has a 1-year low of $66.57 and a 1-year high of $211.00. The company has a market capitalization of $8.91 billion, a P/E ratio of 14.94, a PEG ratio of 2.70 and a beta of 1.28. The business has a 50 day moving average price of $109.96 and a 200 day moving average price of $155.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06.

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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