Muhlenkamp & Co. Inc. Makes New $12.86 Million Investment in Icon Plc $ICLR

Muhlenkamp & Co. Inc. bought a new position in Icon Plc (NASDAQ:ICLR) in the 3rd quarter, Holdings Channel.com reports. The firm bought 73,467 shares of the medical research company’s stock, valued at approximately $12,857,000. Icon makes up 3.5% of Muhlenkamp & Co. Inc.’s portfolio, making the stock its 15th biggest holding.

Several other hedge funds have also modified their holdings of the stock. 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 in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of Icon by 153.4% during 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 period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Icon during the third quarter valued at approximately $63,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Icon by 40,800.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the medical research company’s stock worth $59,000 after purchasing an additional 408 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Icon in the second quarter valued at $61,000. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Icon Stock Performance

Shares of ICLR stock opened at $96.50 on Thursday. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 2.15 and a beta of 1.27. Icon Plc has a one year low of $66.57 and a one year high of $211.00. The company’s 50-day simple moving average is $170.51 and its 200-day simple moving average is $173.20. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06.

Analyst Ratings Changes

Several research firms recently issued reports on ICLR. Rothschild & Co Redburn set a $100.00 price target on shares of Icon and gave the stock a “neutral” rating in a research note on Tuesday. Mizuho set a $216.00 target price on Icon in a research note on Friday, January 9th. TD Cowen upgraded Icon from a “hold” rating to a “buy” rating and cut their price target for the stock from $183.00 to $120.00 in a research note on Wednesday. Robert W. Baird set a $119.00 price target on Icon in a report on Friday, February 13th. Finally, Bank of America restated an “underperform” rating and set a $75.00 price objective on shares of Icon in a report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Icon currently has a consensus rating of “Hold” and a consensus target price of $160.13.

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.