Capital World Investors lifted its holdings in Icon Plc (NASDAQ:ICLR – Free Report) by 555.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,496,479 shares of the medical research company’s stock after buying an additional 1,268,095 shares during the period. Capital World Investors’ holdings in Icon were worth $272,688,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in ICLR. Harris Associates L P bought a new stake in shares of Icon in the 2nd quarter worth about $238,256,000. Wellington Management Group LLP increased its holdings in shares of Icon by 26.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock worth $811,499,000 after buying an additional 975,268 shares during the last quarter. Norges Bank bought a new stake in shares of Icon in the 4th quarter worth about $160,073,000. Franklin Resources Inc. boosted its stake in shares of Icon by 35.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,753,528 shares of the medical research company’s stock worth $481,692,000 after purchasing an additional 719,301 shares during the period. Finally, Boston Partners boosted its stake in shares of Icon by 1,207.3% during the 3rd quarter. Boston Partners now owns 739,135 shares of the medical research company’s stock worth $129,372,000 after purchasing an additional 682,597 shares during the period. 95.61% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently commented on ICLR. Citigroup lifted their price target on shares of Icon from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Piper Sandler cut shares of Icon to a “neutral” rating in a research note on Thursday, May 28th. Barclays lifted their price target on shares of Icon from $120.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Weiss Ratings cut shares of Icon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Finally, DA Davidson set a $164.00 price target on shares of Icon in a research note on Monday, June 1st. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $156.44.
Icon Price Performance
Shares of ICLR opened at $152.24 on Tuesday. The company has a 50 day moving average price of $118.50 and a 200-day moving average price of $140.68. Icon Plc has a fifty-two week low of $66.57 and a fifty-two week high of $211.00. The stock has a market capitalization of $11.66 billion, a PE ratio of 24.71, a PEG ratio of 11.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.10 and a current ratio of 1.10.
Icon (NASDAQ:ICLR – Get Free Report) last announced its quarterly earnings results on Wednesday, June 10th. The medical research company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.05. Icon had a net margin of 5.98% and a return on equity of 9.50%. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the prior year, the company earned $3.43 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. Equities analysts predict that Icon Plc will post 9.74 earnings per share for the current fiscal year.
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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