Ruane Cunniff & Goldfarb L.P. decreased its holdings in shares of Icon Plc (NASDAQ:ICLR – Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,634,611 shares of the medical research company’s stock after selling 44,979 shares during the quarter. Icon accounts for approximately 3.0% of Ruane Cunniff & Goldfarb L.P.’s portfolio, making the stock its 16th largest position. Ruane Cunniff & Goldfarb L.P. owned about 2.02% of Icon worth $180,886,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Toth Financial Advisory Corp bought a new stake in Icon during the fourth quarter valued at approximately $27,000. EFG International AG bought a new position in shares of Icon in the 4th quarter worth $27,000. Abound Financial LLC bought a new stake in shares of Icon during the 4th quarter worth $54,000. Johnson Financial Group Inc. purchased a new stake in Icon during the third quarter valued at about $71,000. Finally, Quadrant Capital Group LLC bought a new stake in Icon during the third quarter worth about $78,000. 95.61% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
ICLR has been the subject of a number of research reports. Piper Sandler cut Icon to a “neutral” rating in a report on Thursday, May 28th. Weiss Ratings cut Icon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Mizuho boosted their target price on Icon from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, June 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $165.00 target price on shares of Icon in a research note on Friday, May 29th. Finally, Citigroup increased their price target 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. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $168.73.
Icon Stock Up 1.8%
Shares of Icon stock opened at $168.78 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. Icon Plc has a 52-week low of $66.57 and a 52-week high of $203.91. The company’s 50 day moving average price is $152.21 and its 200-day moving average price is $135.77. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 8.14 and a beta of 1.22.
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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